BLF having decided to fully comply with FATCA, all entities within its Expanded Affiliated Group as defined by FATCA have registered with the IRS either as Registered Deemed Compliant or as Participating Foreign Financial Institutions and obtained their respective GIINs (Global Intermediary Identification Number).
We are pleased to communicate our Group GIINs (published on the first IRS list published in June 2014) as follows:
| Entity |
GIIN |
| Banque Libano-Française SAL |
C62TUW.00000.LE.422
|
| Libano-Française Finance SAL |
C62TUW.00001.ME.422 |
| Banque SBA SA |
C62TUW.00002.ME.250 |
| Banque SBA SA (Cyprus branch) |
C62TUW.00002.BR.196 |
| LF Finance (Suisse) SA |
C62TUW.00003.ME.756 |
In order to be able to comply with its obligations under FATCA, BLF will be asking some of its clients for specific information and documents.
To serve you better, please find here a Frequently Asked Questions (FAQs) document that can provide general answer to your questions.
Please note that we are unable to offer you any tax advice. For tax related questions, we suggest you contact your professional tax advisor or to visit the IRS website.
Common Reporting Standard (CRS)
The Common Reporting Standard (CRS), formally referred to as the Standard of Automatic Exchange of Financial Information, is a standardized model for the Automatic Exchange of Information (AEOI), developed in the context of the G20 and the Organization for Economic Cooperation and Development (OECD)’s effort to counter tax evasion.
The CRS requires from Banks in CRS participating countries (such as Lebanon) to collect certain information about their clients’ tax residence and their financial accounts, and, if the clients are tax residents in a reportable country, to report such information to the local tax authority (namely, for Lebanon, to the Ministry of Finance). That information is subsequently automatically exchanged by the Ministry of Finance with its peers in other countries on an annual basis.
To know more about CRS, please click here.
