Last updated: 7 January 2016
The GRUIA DUFAUT Law Office wishes you an Excellent New Year!
In order to prevent tax evasion, fraud and money laundering, the legislator decided to introduce in the new Code of fiscal procedure an article providing the credit institutions’ obligation to provide information related to bank accounts held by natural or legal persons. Order no. 3770/2015 of the President of the National Agency for Tax Administration (ANAF), published in the Official Journal no. 983 of December 30, 2015, in force starting from January 1st 2016, details the transfer procedure of the information requested by the Tax Authority, as follows
INFORMATION REGARDING BANK STATEMENTS
As per article 61 of the new Code of fiscal procedure, credit institutions are obliged to provide to the central tax authority, at the latter’s request, their clients’ bank statements, as well as information/document regarding certain operations performed through the said bank account.
As provided by Emergency Ordinance no. 99/2006, credit institutions are defined as banks, credit cooperatives, real-estate savings or credit institutions, mortgage banks.
The notion of “bank account” should be interpreted broadly, including all accounts that the client could have opened in any currency, whether they were opened or closed on the date of the tax authority’s request.
The requested information musty be sent in 5 days – for requests referring to a period under 3 years and in 10 days for requests referring to a period of over 3 years. This information must be used by the tax authority for the sole purpose of treating its own files and it is forbidden to disclose such information to other institutions or judicial authorities.
INFORMATION REGARDING NEW ACCOUNTS
Article 61 paragraph 2 of the new Code of fiscal procedure also imposes the obligation of credit institutions to provide ANAF, on a daily basis, with the list of all persons (natural, legal or other non-incorporated entities) which opened/closed a bank account, as well as the identity data of all persons holding a signature right for the said accounts. Furthermore, credit institutions must provide a list of the persons who rent safe deposit boxes at banks, as well as inform the tax authority of the termination of the lease agreement for such safe deposit boxes.