Current account information exchange

This is to report that as of 2018 (EU Directive 2018/855 of May 25, 2018, so called DAC 6), the C.R.S. mechanism is in effect, an English acronym, common reporting standard, attrarverso which tax administrations of 29 countries cooperate to transmit information on current accounts in the name of nonresident taxpayers. The intesification of automatic exchanges of information between agencies of different countries is aimed at combating tax evasion. The careless taxpayer is recommended to have his or her tax position assessed by authoritative professionals.