Implementation Of The Common Reporting Standard Act (Gmsg-Dv)

Original Language Title: Durchführung des Gemeinsamen Meldestandard-Gesetzes (GMSG-DV)

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: http://www.ris.bka.gv.at/Dokumente/BgblAuth/BGBLA_2015_II_439/BGBLA_2015_II_439.html

439. Ordinance of the Federal Minister of Finance on the implementation of the common reporting standard Act (GMSG-DV)

On the basis of § 62 No. 3 and the section 87 Z 8 of the Federal Act on the implementation of the common standards of reporting for the automatic exchange of information about financial accounts (common reporting standard law - GMSG, Federal Law Gazette I no. 116/2015) is prescribed:

§ 1 without prejudice to § 62 Z recorded cases are already 1, 2, 4, or 5 GMSG exempted from the reporting obligation: 1 corporate provision funds in terms of operational employees and self-employed persons Pension Act - BMSVG, Federal Law Gazette I no. 100/2002 as amended by Federal Law Gazette I no. 79/2015;

2. the OeKB CSD GmbH;

3. investment fund management companies for real estate within the meaning of the real estate investment Fund Act ImmoInvFG, Federal Law Gazette I no. 80/2003 as amended by Federal Law Gazette I no. 115/2015;

4. the Oesterreichische Entwicklungsbank AG;

5. the Austrian Kontrollbank Aktiengesellschaft;

6. the 'Austrian export Fund"Ltd.;

7. the Austrian hotel and tourism Bank Gesellschaft M.b.h..;

8. the Austrian Federal Financing Agency (AFFA) within the meaning of the Federal Finance Act, Federal Law Gazette No. 763/1992 as amended by Federal Law Gazette I no. 46/2014;

9 pension fund within the meaning of the Pension Fund Act - PKG, BGBl. No. 281/1990 as amended by Federal Law Gazette I no. 68/2015, or of operating pension law - BPG, BGBl. No. 282/1990 as amended by Federal Law Gazette I no. 34/2015;

10. the Mortgage Bank (Austria) AG;

11 management company within the meaning of the investment fund law 2011 - 2011 InvFG, Federal Law Gazette I no. 77/2011 in the version of Federal Law Gazette I no. 117/2015;

12 within the meaning of the Federal law on tax measures for the promotion of housing, Federal Law Gazette I no. 162/2001, no public deposits contrary to take no. of 253/1993 in the version of Federal Law Gazette housing banks.

§ 2. without prejudice to the by § 87 Z 1 cases entered until 6 GMSG are already exempt from the reporting requirement: 1. severance and Jubilee money outsourcing insurance;

2. funeral expenses insurance;

3. occupational collective insurance within the meaning of §§ 93 to 98 of the insurance supervision law 2016 - VAG 2016, Federal Law Gazette I no. I 34/2015 in the version of Federal Law Gazette I no. 112/2015;

4. accounts of apartment owner associations and joint ownership communities in accordance with the condominium Act 2002 - route 2002, Federal Law Gazette I no. 70/2002 as amended by Federal Law Gazette I no. 100/2014;

5. deposits within the meaning of § 1 para 1 of the building societies Act - BSpG, Federal Law Gazette I no. 532/1993 as amended by Federal Law Gazette I no. 184/2013;

6 real estate fund within the meaning of § 1 para 1 ImmoInvFG as amended by Federal Law Gazette I no. 115/2015;

7. pension supplementary insurance within the meaning of § 108 b of the income tax Act 1988 - EStG 1988, Federal Law Gazette I no. 400/1988 as amended by Federal Law Gazette I no. 118/2015;

8 risk insurance, where the occurrence of the insurance case is uncertain;

9 trust accounts (Anderkonten), which Treuhänder is an authorised party representative (lawyer, notary or accountants), if it is a Sammelanderkonto that is accordingly established the ethical rules governing the authorized representatives of political parties, run and closed, or if the account of the custody of funds pursuant to § 1 in conjunction with § 104 notarial order - NO, RGBl. No. 75/1871 in the version of Federal Law Gazette I no. 87/2015 , is used or if the account in connection with a the is established in § 87 Z 5 GMSG named purposes. Excluded are trust accounts, which serve the administration of assets;

10 insurance companies in relation to the securing of the future in the sense of § 3 para 1 No. 15 lit. a EStG 1988 as amended by Federal Law Gazette I no. 118/2015;

11 insurance companies and pension funds in the context of future interest within the meaning of §§ 108 g to 108i EStG 1988 as amended by Federal Law Gazette I no. 118/2015.

§ 3. This Regulation shall enter into force 1 January 2016.

Schelling