Central Bank of Lebanon Circular No. 562 – Common Reporting Standard

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Circular No. 562

To Banks and Financial Institutions

We enclose for your reference Circular No. 13235 dated 10/6/2020 regarding the amendment of Fundamental Decision No. 12625 dated 21/7/2017 (Automatic Exchange of Information for Tax Purposes (Standard Reporting Common) attached to Fundamental Decision No. 139.

Beirut, June 10, 2020

Governor of the Central Bank of Lebanon

Riad T. Safieh

Circular No. 13235

Amending Fundamental Decision No. 12625 dated 21/7/2017 regarding the Automatic Exchange of Information for Tax Purposes (Standard Reporting Common)

The Governor of the Central Bank of Lebanon, based on the Monetary and Banking Law, particularly Articles 174, 182, and 70 thereof, and based on Fundamental Decision No. 12625 dated 21/7/2017 and its amendments regarding the Automatic Exchange of Information for Tax Purposes (Standard Reporting Common), and based on Decision No. 171/1 dated 27/5/2020 issued by the Minister of Finance, and based on the corrections returned to the Governor by the Acting Secretary-General of the Central Bank of Lebanon, relying on the principle of continuity of public service,

hereby decides as follows:

Article One: The following paragraph is added to Paragraph (3) of "Article Thirty-Three" of Fundamental Decision No. 12625 dated 21/7/2017, with the following text: « "Information Declaration" Information for the year 2019 shall be submitted, exceptionally, to the Ministry of Finance within a period not exceeding September 30, 2020, in order to submit the abovementioned declaration to the relevant authorities of each country as specified in Table No. 4 mentioned above within a period not exceeding December 31, 2020.»

Article Two: This decision takes effect upon its issuance.

Article Three: This decision is published in the Official Gazette. Beirut, June 10, 2020

Governor of the Central Bank of Lebanon

Riad T. Safieh