The financial information regarding the Italian current accounts of US citizens (Fatca) and OECD / EU (CRS / Dac2), must be sent to the Agency by June 20.
Updated instructions for the filing and transmission of communications that Italian financial institutions will have to send to the Tax Authority, for the tax period 2018, for the purposes of the international agreements Fatca and crs / DAC2 have been published.
Communications must be sent to the Tax Agency by June 20, as established by the provisions (Fatca and Crs / Dac2) of March 26, 2019.
In this regard, we recall that the inter-governmental agreement Fatca (Iga), signed by Italy and the United States, provides for the automatic exchange of financial information concerning US citizens holding a bank account in Italy, and Italian citizens with accounts at US financial institutions. Similarly, Crs (Common reporting standard) and Dac2 refer to agreements and data exchange procedures between OCSE countries and the European Union.
The purpose of these agreements is to fight tax evasion.