- Law no. 207/2015 regarding the Fiscal Procedure Code (hereinafter referred to as „FPC”);
- Government Emergency Ordinance no. 111/2020 regarding the amendment and completion of Law no. 129/2019 for preventing and combating money laundering and terrorist financing, as well as for amending and supplementing some normative acts, for completing art. 218 of the Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy, for the amendment and completion of Law no. 207/2015 on the Fiscal Procedure Code, as well as for completing art. 12 para. (5) of Law no. 237/2015 on the authorization and supervision of the insurance and reinsurance activity (hereinafter referred to as “GEO no. 111/2020”).
The amendments to the FPC aim to extend the category of entities obliged to transmit a series of data and information to the National Agency for Fiscal Administration (hereinafter referred to as “NAFA“), in order to prevent the risks related to money laundering and terrorist financing.
Before introducing these amendments, art. 61 of the FPC provided for the obligation of credit institutions to provide certain information to the central tax authority, some at the request of the latter, while others daily and automatically.
The information provided at the request of the central tax authority shall cover all turnover, accounts opened and transactions carried out in those accounts for each holder.
The information to be provided daily relates to:
- the list of holders of natural or legal persons or any other entities without legal personality that open or close accounts, as well as the identification data of the persons who have the right to sign the specimen signature for the accounts opened with them;
- the list of persons who rent safety-deposit, as well as the termination of the rental agreement.
The local tax authority and other central and local public authorities may request from the central tax authority information on bank accounts, in order to fulfill the reporting obligations related to the prevention and sanctioning of money laundering.
The request and transmission of information are made through the computer system provided by NAFA. On the basis of a protocol, concluded between the central fiscal body and the local fiscal body or other public authority, direct access to the database of the central fiscal body can be ensured.
The natural persons, the legal persons and any other entities that have the obligation to transmit information to the National Office for Prevention and Combating Money Laundering (hereinafter referred to as the „Office”) transmit at the same time and in the same form the respective information to NAFA.
By GEO no. 111/2020, the scope of the institutions obliged to transmit information to NAFA and to the payment institutions and electronic money issuing institutions was widened, in addition to the credit institutions that were previously provided.
The information communicated at the request of the central tax authority is the same (all turnovers, accounts opened and operations carried out for each holder) as those required by credit institutions, stating that they are currently required to communicate both payment institutions as well as electronic money issuing institutions.
The categories of information that are communicated daily refer to:
- the list of holders of natural or legal persons or any other entities without legal personality that open or close accounts, as well as the list of persons who have the right to sign the specimen signature accounts for them;
- the list of persons acting on behalf of the client;
- the list of the real beneficiaries of the account holders, together with their identification data or with the unique identification numbers assigned to each person / entity, as well as with the information regarding the IBAN number and the date of opening / closing of each account;
- the list of persons renting safety-deposit, as well as the termination of the lease, accompanied by their identification data or with the unique identification numbers assigned to each person / entity, as well as the leases termination date.
Also through GEO no. 111/2020, the electronic central register for payment accounts and bank accounts (hereinafter referred to as the „Register”) was established, which was to be operational on January 4, 2021, but at the request of the business environment, NAFA decided to postpone it for one week, respectively until January 11.
NAFA organizes and operationalizes this Register based on data and information received from credit institutions, payment institutions and electronic money issuing institutions.
The following information is available through the Register:
- for the client account holder: the identification data of the persons holding the right to sign the specimen signature and any person claiming to act on behalf of the client;
- for the real beneficiary of the account holder: his identification data or the unique registration number in case of non-residents;
- for the bank / payment account: IBAN number and account opening / closing date;
- for safes: the identification data of the concessionaire or the unique registration number in case of non-residents and the duration of the concession period.
The following institutions and authorities have access to the above information:
- criminal investigation bodies;
- public authorities and institutions with regulatory, information and control attributions in the field, such as the Romanian financial information unit, authorities with financial / fiscal control attributions or authorities with fiscal control attributions, customs authority;
- state bodies specialized in the information activity provided in Law no. 51/1991 regarding the national security of Romania, republished, with the subsequent completions;
- autonomous administrative authorities and institutions with the role of sectoral regulation and supervision and control of the reporting entities, such as the National Bank of Romania, the Financial Supervisory Authority, the National Gambling Office.
The information contained in the Register is directly accessible, without delay and without being filtered to the Office.
According to the law, all data and information contained in the Register are kept for a period of 10 years from the termination of the business relationship between credit institutions / payment institutions / electronic money issuing institutions and the customer.