Council Decision (EU) 2025/2438 of 20 November 2025 on the conclusion of the Amending Protocol to the Agreement between the European Union and the Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance
Date: 2025-11-20
Institutions: Council of the European Union
Subjects: European tax cooperation, San Marino, account, agreement (EU), exchange of information, international tax law, protocol to an agreement, ratification of an agreement, revision of an agreement, virtual currency








L_202502438EN.000101.fmx.xml












Official Journal of the European Union


EN
L series













2025/2438


5.12.2025







            COUNCIL DECISION (EU) 2025/2438
         
of 20 November 2025
         
on the conclusion of the Amending Protocol to the Agreement between the European Union and the Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance


THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 115, in conjunction with Article 218(6), second subparagraph, point (b), and Article 218(8), second subparagraph, thereof,


Having regard to the proposal from the European Commission,


Having regard to the opinion of the European Parliament (1),

Whereas:







(1)


The Agreement between the European Union and the Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance (2) (‘the Agreement’) has enhanced mutual assistance in tax matters between the Contracting Parties and improved international tax compliance.












(2)


Important changes to the Common Reporting Standard (CRS) of the Organisation for Economic Cooperation and Development were approved at international level on 26 August 2022 and were incorporated into Union law by means of Council Directive (EU) 2023/2226 (3), which amended Council Directive 2011/16/EU (4).












(3)


Therefore, the Agreement needs to be amended to ensure that the automatic exchange of financial account information between Member States and the Republic of San Marino is aligned with, and continues to take place in accordance with, the updated CRS from 1 January 2026.












(4)


The text of the Amending Protocol to the Agreement between the European Union and Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance (‘the Amending Protocol’), which is the result of the negotiations, duly reflects the negotiating directives issued by the Council.












(5)


In accordance with Council Decision (EU) 2025/2126 (5), the Amending Protocol was signed on 13 October 2025, subject to its conclusion at a later date.












(6)


The Amending Protocol and the Joint Declarations attached thereto should be approved on behalf of the Union.












(7)


The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 of the European Parliament and of the Council (6),





HAS ADOPTED THIS DECISION:



Article 1
The Amending Protocol to the Agreement between the European Union and the Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance is hereby approved on behalf of the Union (7).


Article 2
The Joint Declaration of the Contracting Parties on the Agreement and the Annexes, the Joint Declaration of the Contracting Parties on Article 5 of the Agreement, the Joint Declaration of the Contracting Parties on the relations between San Marino and the European Union, the Joint Declaration of the Contracting Parties on the definition of Central Bank and the Joint Declaration of the Contracting Parties on the entry into force of the Amending Protocol are hereby approved on behalf of the Union.


Article 3
This Decision shall enter into force on the date of its adoption (8).




Done at Brussels, 20 November 2025.


For the Council


The President

K. KALLAS
            





(1)  Opinion of 13 November 2025 (not yet published in the Official Journal).

(2)  
            OJ L 381, 28.12.2004, p. 33, ELI: http://data.europa.eu/eli/agree_internation/2004/903/oj.

(3)  Council Directive (EU) 2023/2226 of 17 October 2023 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (OJ L, 2023/2226, 24.10.2023, ELI: http://data.europa.eu/eli/dir/2023/2226/oj).

(4)  Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC (OJ L 64, 11.3.2011, p. 1, ELI: http://data.europa.eu/eli/dir/2011/16/oj).

(5)  Council Decision (EU) 2025/2126 of 10 October 2025 on the signing, on behalf of the Union, of the Amending Protocol to the Agreement between the European Union and the Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance (OJ L, 2025/2126, 17.10.2025, ELI: http://data.europa.eu/eli/dec/2025/2126/oj).

(6)  Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39, ELI: http://data.europa.eu/eli/reg/2018/1725/oj).

(7)  The text of the Amending Protocol is published in OJ L, 2025/2428, 5.12.2025, ELI: http://data.europa.eu/eli/agree_internation/2025/2428/oj.

(8)  The date of entry into force of the Amending Protocol will be published in the Official Journal of the European Union by the General Secretariat of the Council.


ELI: http://data.europa.eu/eli/dec/2025/2438/oj
ISSN 1977-0677 (electronic edition)