Regulatory Alerts2020-03-31 | 13214Central Bank of Lebanon Circular No. 548: Amendment to Decision No. 12625 on the Common Reporting Standard
The Central Bank of Lebanon issued Circular No. 548 to amend Decision No. 12625 regarding the automatic exchange of information for tax purposes under the Common Reporting Standard. The amendment modifies Article 2 of the original decision to incorporate the definition of 'beneficial owner' and the determination method for 'controlling person' as established in the anti-money laundering and counter-terrorist financing regulatory framework. This decision entered into force immediately upon issuance and was published in the Official Gazette on March 31, 2020.
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