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Reporting Agreement Eur Lex

3. administrative procedures to verify compliance with notification and due diligence procedures by reporting financial institutions; administrative follow-up procedures with a financial institution reporting when undocumented accounts are reported; 7) the term “financial property” refers to a security (for example. B a stake in shares in a capital company; Partnership or economic participation in a widely distributed or listed partnership or trust; Borrowings, bonds or other debt), corporate interest, Products, swaps (e.g. B interest rate swaps, currency swaps, currency swaps, commodity swaps, stock swaps and similar agreements), insurance or interest contract (including futures or futures or option) in a security, partnership contract, base contract, insurance contract or insurance contract. The term “financial property” does not include direct non-indebted shares in real estate. D. Verification procedures for identifying entity accounts for which a return is required. For the accounts of existing companies described in paragraph B, a reporting financial institution must apply the following verification procedures to determine whether the account is held by one or more persons to be reported or by passive NFNs with one or more supervisors who are persons to report: b) Monaco with respect to reports to a Member State or 4. At the end of the consultations, this agreement may be amended by a protocol or a new agreement between the parties. 1. In accordance with this article and subject to the applicable notification and due diligence obligations, in accordance with Annex I and II, which are an integral part of this agreement, the competent authority of Monaco exchanges annually with each of the competent authorities of the Member States and each year, each of the competent authorities of the Member States automatically exchanges with the competent authority of Monaco the information obtained in accordance with these provisions and referred to in paragraph 2. The parties agree that the Council`s provisions on the automatic exchange of information on administrative cooperation in taxation, as amended by the 2014/107/EU Council Directive in the agreement and its annexes, will be respected; and in other agreements that the European Union has negotiated in parallel with the same issue with the Swiss Confederation, the Principality of Andorra, the Principality of Liechtenstein and the Republic of San Marino, although some of these agreements, due to differences of opinion on the Principality of Monaco and these four other countries, contain additional details on data privacy and protection, to the extent strictly necessary to enable EU Member States to meet the requirements imposed on them by EU law in their relations with the EU authorities.

An entity such as a corporation, limited partnership or similar legal arrangement that does not have a tax residence, pursuant to Schedule I, Section VIII, paragraph 1, is considered resident in the jurisdiction where its actual place of management is located.