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​In recent years, the challenge posed by cross-border tax fraud and tax evasion has become a major focus of concern within the European Union and at global level. Unreported and untaxed income reduces national tax revenues and therefore an increase in the efficiency and effectiveness of tax collection is considered to be required. The automatic exchange of information constitutes an important tool in this regard. In view of this, the Council of the European Union adopted EU Council Directive 2014/107/EU (commonly known as ‘DAC2’) that extended the cooperation between EU tax authorities to automatic exchange of financial account information. This extension effectively incorporated the Common Reporting Standard (commonly known as ‘CRS’), developed by the OECD, within EU Council Directive 2011/16/EU as regards administrative cooperation in the field of taxation. The CRS contains the reporting and due diligence standard that underpins the automatic exchange of financial account information.        

A jurisdiction implementing the CRS and DAC2 must have rules in place that require financial institutions (hereinafter referred to as ‘FIs’) to report information consistent with the scope of reporting and to follow due diligence procedures consistent with the procedures set out in the Standard. As an “early adopter” Malta has committed to implement the CRS in accordance to a specific and ambitious timetable leading to the first automatic information exchanges in 2017.  

The DAC2 and CRS have been implemented into Maltese legislation by virtue of LN 384 of 2015 entitled the Cooperation with Other Jurisdiction on Tax Matters (Amendment) Regulations, 2015, which regulations amend the Cooperation with Other Jurisdiction on Tax Matters Regulations with effect from 1st January 2016. In line with regulation 45 of the afore-mentioned regulations, the DAC2 and CRS will be implemented uniformly into Maltese legislation. A copy of the above-mentioned legal notice is available here.       

Guidelines (version 2.0) in relation to the implementation of DAC2 and CRS issued under the provisions of article 96(2) of the Income Tax Act are available here.        

Any further queries not covered by these guidelines can be sent by email to .

Forms and other documents requested in connection with these Rules are available here below: