Austria (AT)

Jurisdiction Overview

IDQuestionAnswer
420 *LEI: Is the use of an annually updated LEI mandatory for identification of reporting financial institutions (pursuant to the Common Reporting Standard (CRS), as referred to in the CRS commentaries, page 97, section I, subpara A (3))? No
 Data Date: 2019

Notes

 
According to Austria's Ministry of Finance, the use of an annually updated LEI is mandatory for identification of reporting financial institutions (pursuant to the Common Reporting Standard (CRS), as referred to in the CRS commentaries, page 97, section I, subpara A (3)) as per the EU regulations. An analysis of the relevant Council Directive 2014/107/EU of 9 December 2014 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation and of national implementing legislation has not confirmed this suggestion.

Sources

TJN Survey-2017
 
https://www.gleif.org/en/about-lei/regulatory-use-of-the-lei
 
http://www.leiroc.org/lei/uses.htm
 
http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L:2014:359:FULL&from=EN
 
http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/legislation/bankenpaket_BGBLA_2015_I_116.pdf
 
http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/legislation/Austria-secondary-legislation.pdf
 
http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/guidance/Austria%20-%20Guidance.pdf