Republic of Latvia Cabinet Regulation No. 20 Adopted 5 January 2016 Procedures by which a Financial Institution Implements the Due Diligence Procedures for Financial Accounts and Provides Financial Accounts Information to the State Revenue Service Issued pursuant to Section 64, Section 97, Paragraph one, Section 99, Paragraph one, Section 100, Paragraph five of the Law On Taxes and Duties 1. General Provisions 1. This Regulation prescribes: 1.1. the date of determining the list of participating countries and territories (hereinafter — the participating country) and the category of accounts (Annex); 1.2. the procedures by the financial institutions referred to in Section 71, Paragraph one of the Law On Taxes and Duties (hereinafter — the Law) (hereinafter — the financial institutions), shall implement the due diligence procedures for financial accounts to identify reportable accounts; 1.3. the procedures by which financial institutions shall provide information to the State Revenue Service for forwarding to the competent authority of the participating country in accordance with Section 100 of the Law. 2. The State Revenue Service is the competent authority for ensuring the exchange of information within the scope of this Regulation. 3. The Revenue Service shall ensure the protection of data to be received and forwarded to the competent authorities of the participating country in accordance with the laws and regulations laying down the protection of information in relation to personal data processing and circulation of such data. 4. According to the procedures laid down in this Regulation and provisions of the agreement entered into by the Republic of Latvia or the European Union with the relevant country the State Revenue Service shall automatically (without prior request) provide to the competent authorities of the participating country the financial accounts information which is indicated in Section 100, Paragraph one of the Law and which has been received from the financial institution in accordance with Section 100 of the Law. 5. If the financial institution (except a is a resident for tax purposes (hereinafter — the tax resident) in two or more participating countries, the financial institution shall apply the provisions regarding reporting or due diligence of such participating country in which the financial institution maintains a financial account or accounts. If the trust is a financial institution (regardless of whether it is a tax resident in the participating country), the trust shall be regarded as subjected to the legal framework of the relevant participating country in
Annex Cabinet Regulation No. 20 5 January 2016 Participating Countries and Date of Determining the Category of Accounts No. Country Date of determining the category of accounts1 Period regarding which the first report must be provided1 Date by which the financial institution provides the first report to the State Revenue Service new accounts preexisting accounts high value individual accounts lower value individual accounts entity accounts 1 2 3 4 5 6 7 8 1. Austria 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 2. United Kingdom 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 3. Belgium 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 4. Bulgaria 31 December 1 January 31 July 2017 31 July 2017 1) 31 July 2017, or 1) 31 July 2017, or 2016- 2016- 2016- 2016-
the account as reportable in 2017 account as reportable in 2017 10. Estonia 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 11. Ireland 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 12. 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 13. Cyprus 31 December 1 January December 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 14. Lithuania 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 15. 31 December 2015 1 January 31 July 2017 31 July 2017 1) 31 July 2017, or 1) 31 July 2017, or 2016- 2016- 2016- 2016-
31 December 2016 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 16. Malta 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 17. 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 18. Poland 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 19. Portugal 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 20. Romania 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the
the account as reportable in 2017 account as reportable in 2017 21. Slovakia 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 22. Slovenia 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 23. Finland 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 24. Spain 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 25. Hungary 31 December 2015 1 January 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 26. Germany 31 December 2015 1 January 31 July 2017 31 July 2017 1) 31 July 2017, or 1) 31 July 2017, or
31 December 2016 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 27. Sweden 31 December 2015 1 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 28. Anguilla 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 29. Argentina 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 30. Barbados 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 31. Bermuda 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the
the account as reportable in 2017 account as reportable in 2017 32. British Virgin Islands 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 33. Cayman Islands 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 34. Columbia 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 35. Curaçao 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 36. of Dominica 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 37. Faroe Islands 15 January 2016 16 January 2016- 31 July 2017 31 July 2017 1) 31 July 2017, or 1) 31 July 2017, or
31 December 2016 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 38. Gibraltar 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 39. Greenland 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 40. Guernsey 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 41. Iceland 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 42. India 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the
the account as reportable in 2017 account as reportable in 2017 43. Isle of Man 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 44. Jersey 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 45. Korea 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 46. Principality of 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 47. Republic of Mauritius 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 48. Mexico 15 January 2016 16 January 2016- 31 July 2017 31 July 2017 1) 31 July 2017, or 1) 31 July 2017, or
31 December 2016 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 49. Montserrat 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 50. Niue 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 51. Republic of San Marino 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 11) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 52. Seychelles 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 53. Republic of South Africa 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the
the account as reportable in 2017 account as reportable in 2017 54. Trinidad and Tobago 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 55. Turks and Caicos Islands 15 January 2016 16 January 2016- 31 December 2016 31 July 2017 31 July 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 1) 31 July 2017, or 2) 31 July 2018, if the financial institution recognises the account as reportable in 2017 Note. 1 If the financial institution has exercised the rights specified in Section 99, Paragraph four of the Law On Taxes and Duties regarding such financial accounts holders or beneficiaries of which during implementation of the due diligence are tax residents in any country indicated in Paragraphs 28-55 of this Table, 31 December 2015 shall be deemed as the date of determining the category of accounts for the financial institution regardless of the date indicated in Box 3 of this Table. In such case the first reporting period regarding year 2016 shall be 1 January 2016-31 December 2016. Minister for Finance Reirs