In response to the impact of the COVID-19 pandemic, the Ministry of Finance plans to extend the reporting period for 2021 financial account information in tax matters (hereinafter as CRS information) from the statutory period of June 1 to June 30, 2022 to the period of June 1 to August 1, 2022.
The Ministry of Finance stated that, in accordance with the second paragraph of Article 51 of the “Regulations Governing the Implementation of the Common Standard on Reporting and Due Diligence for Financial Institutions” (hereinafter as CRS Regulations), where Reporting Financial Institutions affected by a natural disaster, incident, or force majeure fail to report within the reporting period stipulated in the CRS Regulations, the Ministry of Finance may, based on the situation, make a public announcement extending the reporting period. Due to the recent rapid increase in the number of confirmed COVID-19 cases locally, financial institutions’ employee scheduling may be so affected, and it is obviously difficult for financial institutions to complete the reporting requirement before the end of June as scheduled. The Ministry of Finance, in accordance with the second paragraph of Article 51 of the CRS Regulations, will make a public announcement that the deadline for reporting 2021 CRS information is extended to August 1, 2022.
The Ministry of Finance urged financial institutions to prepare the reporting data as early as possible under permissible operating conditions, and emphasized that the CRS XML Schema can be downloaded from the CRS Financial Institution Portal (https://www.cfi.mof.gov.tw). If there are any operational questions regarding the Portal, please dial 0800-808-228 for customer service.
Contact person: Ms. Yu-Hsuan Wang, Section Chief
Contact Number: 02-2322-8183