Honoured Financial Institutions,
We would like to remind all Financial Institutions obliged to report under the Law No. 05/L-013 on Ratification of the Agreement between the Government of the Republic of Kosovo and the Government of the United States of America to Improve Compliance of Tax Regulations at the International Level and implementing FATCA regulations, shortly FATCA Agreement, to report on the calendar year prior to the 30th of September 2019.
According to Article 1 (g) of the FATCA agreement, the financial institutions that are classified as below are obliged to report:
- Custody institution
- Deposit Institution
- Investment entity, and
- Certain tax companies
And to maintain reportable USA accounts.
Also, it is noted that this year automatic reporting through the application provided by the Tax Administration of Kosovo has already commenced, whereby manual reporting has been removed and has allowed for a reduction in reporting errors.
Tax Administration of Kosovo
