Updated FAQs dealing with due diligence obligations
The tax administration of Finland on February 28, 2025, updated Section 1 of its FATCA and common reporting standard (CRS) 鈥渇requently asked questions鈥� (FAQs), dealing with fulfilling due diligence obligations.
Specifically, a question regarding whether a self-issued certificate is needed from an existing customer when opening a new account was updated. The answer was revised to clarify that a self-issued certificate from the customer is not considered a pre-requisite for account opening, when no additional customer information is required by other legislation, for technical account openings involving time deposits that renew automatically without customer involvement.
Read a March 2025 report prepared by the 乐鱼(Leyu)体育官网 member firm in Finland