Act No. 105 / 2016 Coll.
Act amending certain laws in the field of international cooperation in tax administration and repealing Act No. 330 / 2014 Coll., on the Exchange of Information on Financial Accounts with the United States of America for Tax Management purposes
Valid
Law
Effective from 06.04.2016
Text versions:
01.04.2017
06.04.2016
Contents
ČÁST PRVNÍ
Čl. I
„Oddíl 1
„Oddíl 2
Pododdíl 1
§ 13a
§ 13b
§ 13c
§ 13d
§ 13e
§ 13f
§ 13g
§ 13h
§ 13i
§ 13j
§ 13k
§ 13l
§ 13m
§ 13n
§ 13o
§ 13p
Pododdíl 2
§ 13q
§ 13r
Oddíl 3
§ 13s
§ 13t
Oddíl I
Oddíl II
Oddíl III
Oddíl IV
Oddíl V
Oddíl VI
Oddíl VII
Čl. II
ČÁST DRUHÁ
Čl. III
Čl. IV
ČÁST TŘETÍ
Čl. V
Čl. VI
ČÁST ČTVRTÁ
Čl. VII
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105
THE LAW
of 16 March 2016
amending certain laws in the field of international cooperation in tax administration and repealing Act No. 330 / 2014 Coll., on the Exchange of Information on Financial Accounts with the United States of America for tax management purposes
Parliament has decided on this law of the Czech Republic:
Amendment to the International Tax Administration Cooperation Act
Act No. 164 / 2013 Coll., on International Cooperation in Tax Administration and on the Amendment of Other Related Laws, as amended by Senate Legal Measures No. 344 / 2013 Coll., is amended as follows:
1. In footnote 1, the words "as amended by Council Directive 2014 / 107 / EU 'shall be added at the end of the text.
2. In Paragraph 8, the following paragraph 2 is inserted after paragraph 1:
"(2) The tax administrator shall be the Specialised Financial Office when automatically exchanging information notified by financial institutions. ';
Paragraphs 2 and 3 shall become paragraphs 3 and 4.
3. In Part One, Title III, Part 2, the following is inserted above Section 13:
Automatic exchange of information by type of income and property '.
4. In Section 13 (1) of the introductory part of the provision, the words "by type of income or property 'are deleted.
5. In Article 13 (1), the words "by type of income or property 'shall be inserted at the beginning of point (a).
6. In footnote 2, the words "as amended by Council Directive 2014 / 107 / EU 'shall be added at the end of the text.
7. In Paragraph 13 (6), the words "or income or property not exceeding a certain amount 'are deleted.
8. in Part One, Title III, Part 2, the following sections 2 and 3 are inserted after Section 1:
Automatic exchange of information notified by financial institutions
General provisions
Preliminary provisions
The central liaison body shall regularly provide the contact point of another State with information concerning persons subject to tax in another State and on whom the information is reported by financial institutions.
Terms
(1) If the term used in this section is defined in the case of automatic exchange of information
(a) with another Member State in Annex 1 to this Law, is always relevant to that Annex;
(b) the Contracting State of the Convention on Mutual Administrative Assistance in Tax Matters in Annex 1 to this Act has the meaning given by that Annex, unless a bilateral international agreement governing the automatic exchange of information notified by financial institutions is applicable between that Contracting State and the Czech Republic;
(c) with a Contracting State in an international agreement, is of relevance to this International Treaty, even if it is defined in this section; if the contract does not define terms, the meaning given in Annex 1 to this Act shall be that which is relevant.
(2) The list of States Parties referred to in paragraph 1 (b) and (c) shall be published by the Ministry in a manner which allows remote access.
Reporting Czech Financial Institution
(1) The notifying Czech financial institution shall mean a financial institution in the Czech Republic not referred to in paragraph 2.
(2) Non-Reporting Czech Financial Institution means:
(a) a Financial Institution in the Czech Republic which is a non-Reporting Financial Institution under Article B of Annex 1 to this Act; or
(b) a legal person or entity without a legal personality where there is a low risk that the correct determination and determination of the tax or the security of its remuneration will be compromised.
(3) A financial institution in a State or jurisdiction is a financial institution which is:
(a) resident of that State or jurisdiction, except for any branch of that State or jurisdiction located outside that State or jurisdiction; or
(b) a branch of a financial institution which is not resident in that State or jurisdiction, where that branch is located in that State or jurisdiction.
(4) The list of non-reporting Czech financial institutions referred to in paragraph 2 (b) shall be established by the Ministry by decree and notified to the European Commission. The Ministry shall inform the European Commission of any changes to the list.
Notified account
(1) A Reportable Account is a Financial Account maintained by a Reportable Czech Financial Institution held by a Reportable Person or a Passive Non-Financial Institution whose Controlling Person is a Reportable Person, sought under due diligence procedures or other comparable procedures set out in Annex 2 to this Act.
(2) Controlling person means in the case of:
(a) legal persons the beneficial owner under the law governing the measure against the legalisation of proceeds from crime and terrorist financing;
(b) the trust fund of the founder, the trustee, the person overseeing the management of the fund, the employed or other natural person having the highest effective control over the trust fund;
(c) units without a legal personality other than a trust fund by a person in an equivalent or similar position to that of the controlling person of the trust fund.
(3) Passive non-financial entity means:
(a) a non-financial entity which is not an active non-financial entity pursuant to Article D of Annex 1 to this Act; or
(b) the investment entity referred to in Article A (4) (b) of Annex 1 to this Act, which is not a financial institution in the participating State;
(c) a non-financial entity means a legal person or entity without a legal personality which is not a financial institution.
(4) For the purposes of automatic exchange of information with another State, an account exempted shall also mean an account where there is a low risk of the correct identification and / or payment of the tax or of the security of its payment being compromised and has very similar characteristics to any of the excluded accounts referred to in Article C (17) (a) to (f) of Annex 1 to this Act.
(5) The list of exempted accounts referred to in paragraph 5 shall be drawn up by the Ministry by a decree and notified to the European Commission. The Ministry shall inform the European Commission of any changes to the list.
Notified person
(1) The person notified is a person from a participating State who is not:
(a) a public limited company whose shares are traded regularly on a regulated securities market;
(b) a commercial corporation which is the linked entity of the public limited liability company referred to in (a);
(c) a government entity,
(d) an international organisation;
(e) a central bank; or
(f) a financial institution.
(2) Person from a participating State means:
(a) a natural person, legal person or entity without a legal personality resident in that participating State;
(b) a non-legal entity other than a trust fund which is not resident in any State or jurisdiction if it has its head office in that participating State; or
(c) the estate of the deceased resident of that participating State.
(3) The participating State means:
(a) another Member State;
(b) a Contracting State with which the Czech Republic has concluded an international agreement on the basis of which the information notified by financial institutions may be automatically exchanged with that State; or
(c) a Contracting State with which the European Union has concluded an international agreement on the basis of which information notified by financial institutions may be exchanged and which is included in a list published by the European Commission.
(4) A resident of a State or a jurisdiction shall mean a person or entity without a legal personality who, under the law of that State or jurisdiction, is subject to taxation in that State or jurisdiction on account of his residence, permanent residence, seat or place of management.
(5) For the purposes of automatic exchange of information with the United States of America:
(a) the notified person specified by the American person;
(b) resident of the State or jurisdiction of the resident under a contract between the Czech Republic and the United States of America to prevent double taxation and prevent tax evasion in the field of income and property taxes.
(6) The list of States Parties referred to in paragraph 3 (b) shall be notified by the Ministry to the European Commission.
Proceedings of the Financial Institution
The notifying Czech Financial Institution and the non-reporting Czech Financial Institution have for the purposes of this Act the procedural status of the tax entity.
Verification
(1) The notifying Czech Financial Institution shall verify that the notified account is maintained in the calendar year.
(2) The notifying Czech Financial Institution uses in the verification of:
(a) the due diligence procedures set out in Annex No 2 to this Act or the stricter procedures for the application of which this Annex allows;
(b) the Contracting State of the Convention on Mutual Administrative Assistance in Tax Matters, due diligence procedures listed in Annex 2 to this Act, or more stringent procedures, the application of which this Annex allows, provided that no international agreement is applicable between that Contracting State and the Czech Republic governing the automatic exchange of information notified by financial institutions;
(c) due diligence procedures under an international agreement or other comparable procedures, the application of which is permitted under an international agreement; where the contract does not contain due diligence procedures, the due diligence procedures set out in Annex 2 to this Act or the stricter procedures for the application of which this Annex allows.
(3) The notifying Czech financial institution shall notify the tax administrator of the application of other comparable or stricter procedures as referred to in paragraph 2.
(4) For the purposes of the examination referred to in Annex 2 to this Act, the relevant date shall be 31 December 2015 for a State or jurisdiction that was a participating State on 31 December 2015; in other cases, the operative date shall be 31 December of the year in which that State becomes a participating State.
(5) The list of relevant dates referred to in paragraph 4 shall be published by the Ministry in a manner which allows remote access.
Detection
(1) The notifying Czech Financial Institution shall collect data on the notified account for the calendar year.
(2) The notifying Czech financial institution shall proceed in the detection process in a similar manner to the verification using due diligence procedures, other comparable procedures or stricter procedures.
(3) Data are to be collected on a Reportable Account held by:
(a) the person notified;
(b) a legal person or entity without a legal person whose controlling person is the notified person.
(4) The reported account data are:
(a) the name or designation of the account holder;
(b) the date and place of birth of the account holder;
(c) the address of the place of permanent or other residence or the address of the account holder's registered office; and
(d) the tax identification number or other similar number of the account holder used for tax purposes in the State where he is resident and the code of that State.
(5) The data referred to in paragraph 4 shall also be collected for the controlling person referred to in paragraph 3 (b).
Synergies
(1) The account holder shall provide the notifying Czech Financial Institution or the non-reporting Czech Financial Institution with the necessary synergies in the verification and detection.
(2) The acting person shall also provide the account holder with the cooperation referred to in paragraph 1.
Storage of documents
The notifying Czech Financial Institution shall keep the documents relating to the verification and survey for a period of 10 years from the end of the calendar year for which the notified accounts are examined and the data are collected.
Notification
(1) The notifying Czech Financial Institution which holds the notified account in the calendar year shall submit to the tax administrator a notification indicating:
(a) an identification number where it has been allocated in accordance with an international contract;
(b) its name or designation, the identification number of the person under the law governing the national statistical service;
(c) details of the notified account;
(d) the unique identifier of the notified account;
(e) the balance on the account notified or the value of that account at the end of the calendar year or, if the account has been cancelled during that period, information on its cancellation; in the case of an insurance contract with a capital value or a pension insurance contract, also the capital or the value of the redemption;
(f) for the custody account
1. the total gross amount of interest, the total gross amount of dividends and the total gross amount of other income accruing from funds in that account paid or credited to that account during the calendar year;
2. the total gross proceeds from the sale or redemption of financial assets paid or credited to that account during the calendar year in which the Reporting Czech Financial Institution acted as the custodian, broker, agent or other representative of the holder of that account;
(g) for a depositary account, the total gross amount of interest paid or credited to that account during the calendar year;
(h) for an account not referred to in (f) or (g), the total gross amount paid or credited to its owner in connection with that account during the calendar year in which the Reporting Czech Financial Institution is a debtor or a debtor, including the aggregate amount paid to the Account Holder for any redemption during the calendar year;
(i) other particulars under an international agreement or annexes thereto;
(j) a statement that due diligence procedures, other comparable or stricter procedures, have been properly applied in the verification.
(2) If the verification indicates that the notifying Czech Financial Institution does not hold any notified account in the calendar year, it shall notify the tax administrator accordingly.
(3) If the non-reporting Czech Financial Institution, which is a government entity, an international organisation or a Czech National Bank, as an entrepreneur carries out activities of the same type as those carried out by financial institutions, it shall, in respect of such business, make the notification provided for in paragraph 1.
Time limit for submission of notifications
The notification shall be submitted by 30 June of the calendar year following that for which it is submitted.
Notification procedure
(1) The notification shall be made by a data message:
(a) signed by a recognised electronic signature; or
(b) with a certified identity of the feeder in a way that can be logged into his data box.
(2) The format and structure of the data report will be published by the tax administrator in a way that allows remote access.
Fines
(1) The tax administrator may also impose a fine on the notifying Czech Financial Institution or non-reporting Czech Financial Institution for failure to fulfil an obligation of a non-monetary nature if it infringes the obligation
(a) in the course of verification,
(b) on survey,
(c) keep evidence of verification and detection;
(d) obtain an identification number;
(e) information or disclosure.
(2) The tax administrator may impose an order fine of up to CZK 500 000 on the notifying Czech Financial Institution or the non-reporting Czech Financial Institution if it infringes the obligation to notify.
Procedure of the tax administrator for the transmission of information
The tax administrator shall transmit the information obtained from the notification to the central liaison body.
Procedure for the transmission of information by the Central Contact Authority
(1) The central liaison body shall forward the information obtained from the tax administrator to the contact point of the Member State or to the contact point of the contract State with which the international agreement concluded is applicable for the automatic exchange of information notified by financial institutions by 30 September of the calendar year following the calendar year for which it was notified.
(2) The list of States Parties referred to in paragraph 1 shall be published by the Ministry in a manner which allows remote access.
Specific provisions on the automatic exchange of information notified by financial institutions with the United States of America
Identification number
(1) The notifying Czech Financial Institution will request the United States Contact Point to assign an identification number.
(2) The Non-Reporting Czech Financial Institution that holds the Reportable Account will request the United States Contact Point to assign an identification number if it is to be assigned under an international agreement.
(3) The financial institution shall apply for an identification number in such a way as to obtain it no later than the date of the preceding date on which it is to submit a notification to the tax administrator.
(4) The financial institution shall notify the tax administrator of the identification number within 15 days of the date of its allocation.
Non-participating financial institutions
(1) In addition, the notifying Czech Financial Institution shall verify that the account held by the non-participating Financial Institution is maintained in the calendar year.
(2) A notifying Czech financial institution which holds an account held by a non-participating financial institution in a given calendar year shall notify the tax administrator of this fact.
(3) A notifying Czech financial institution which points out or mediates payment from sources within the territory of the United States of America to the non-participating financial institution,
(a) provide the person from whom such payment has been received with the information necessary for the notification of such payment and the tax withholding of the United States of America under an international agreement; or
(b) reduce the amount corresponding to the tax of the United States of America under the international agreement if it is bound to do so by that State and forward it to that State.
Common provisions for automatic exchange of information
Information and publication
(1) The notifying Czech Financial Institution shall inform the Reportable Person, who is a natural person, of the collection and transmission of data about it, before making the first notification to the tax administrator containing data on that person, in such a way that he can exercise his personal data protection rights.
(2) In the event of a security breach concerning data relating to a notified person likely to have an impact on the protection of personal data or on the privacy of the notified person, he shall inform him of this fact.
(a) a notifying Czech Financial Institution, where the breach of security has occurred during the processing or transmission of the data to the tax administrator; or
(b) the central liaison body in other cases.
(3) The notifying Czech financial institution shall also notify the security breach referred to in paragraph 2 to the central liaison body.
(4) The notifying Czech Financial Institution shall publish in a manner that allows remote access or by any other appropriate means that it applies:
(a) due diligence procedures for new accounts also in previously existing accounts;
(b) due diligence procedures for high-value accounts also in lower-value accounts;
(c) due diligence procedures also apply to previously existing entities whose value at the relevant date does not exceed USD 250 000; or
(d) other comparable or stricter procedures under an international agreement.
Procedure for receiving information by the Central Contact Authority
The central liaison body shall receive and use information from the contact point of another State. ';
9. In Article 25 (6), the words "by mutual agreement between the institutions' shall be replaced by" by mutual agreement between the institutions' and the words ", in particular 'shall be inserted after the words" States'.
10. In Article 29 (1), the words "Central Contact Authority 'are replaced by the words" Ministry'; the words "Contact Point of another State 'are replaced by the words" Another State'; at the end of the paragraph, the sentence "The method of implementing wider international cooperation shall be agreed by the Central Contact Authority with the Contact Point of another State '.
11. the following Annexes 1 and 2 to the Act are added:
"Annex No 1 to Act No 164 / 2013 Coll.
Definitions
A. Financial institutions
Contents
ČÁST PRVNÍ
Čl. I
„Oddíl 1
„Oddíl 2
Pododdíl 1
§ 13a
§ 13b
§ 13c
§ 13d
§ 13e
§ 13f
§ 13g
§ 13h
§ 13i
§ 13j
§ 13k
§ 13l
§ 13m
§ 13n
§ 13o
§ 13p
Pododdíl 2
§ 13q
§ 13r
Oddíl 3
§ 13s
§ 13t
Oddíl I
Oddíl II
Oddíl III
Oddíl IV
Oddíl V
Oddíl VI
Oddíl VII
Čl. II
ČÁST DRUHÁ
Čl. III
Čl. IV
ČÁST TŘETÍ
Čl. V
Čl. VI
ČÁST ČTVRTÁ
Čl. VII
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Regulation Information
| Citation | Act No. 105 / 2016 Coll., amending certain laws in the field of international cooperation in tax administration and repealing Act No. 330 / 2014 Coll., on the Exchange of Information on Financial Accounts with the United States of America for tax management purposes |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.04.2016 |
|---|---|
| Effective from | 06.04.2016 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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