General Directorate of Taxes has begun implementing the legal obligation to report bank accounts, based on the law No. 154/2020 “On the Central Register of Bank Accounts”, as part of aligning our legislation with that of the European Union.
According to this definition, the carrier registry of data for this legal obligation has been established. The data reporting subjects are all financial institutions, both banks and non-banks, that administer bank accounts and safe deposit boxes.
Since January 2021, the Tax Administration has encouraged all of the aforementioned financial institutions to fulfill the obligations arising from this law.
Financial institutions that have not yet reported to the General Directorate of Taxes, by failing to fulfill their legal obligations, will be subject to further penalties under the provisions of this law.
Source: General Directorate of Taxes.
