The Decision on Approval of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information with an Enclosed Statement published.

Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information has been published in the fifth repetitive Official Gazette dated 31.12.2019 following its approval with the Presidential Decision no.1965.

Information to be notified within the scope of Article 2 of the agreement:

• Name, address, tax identification number of the person holding the title of account holder, place and date of birth for real persons, if the account holder is an institution and if it is determined to have at least one controlling person, the name / title and address of the said Institution, tax identification number, name and address of each notifiable person, tax identification number, place of birth and date,
• Account number or functional equivalent,
• The notifying financial institution title and identification number if exists,
• Account balance at the end of the account reporting period, closing of account if the closure occurred during the period,
• For custodian account; gross amounts of interest, dividends and other revenues paid or credited to the account during the reporting period from assets monitored in the account,
• The gross amount of the interest paid or credited for the deposit account during the reporting period,
• For accounts other than custodian or deposit accounts, the total gross amount including the total amount of redemption payments paid or credited to the account holder during the reporting period.

These notifications will be made by various "financial institutions" including banks, custody institutions, insurance companies and investment banks (including mutual funds).

Time of exchange of information: Starting from the years specified in Annex F of the Agreement, it will be subject to change within 9 months following the end of the calendar year to which the information belongs.