1 tax residence - is the place (country or territory) where a person or entity is liable to pay taxes and/or other public law liabilities.
2 EPMAP Ltd. is obliged, on the basis of relevant regulations, to receive from its Clients a statement concerning their tax residence and tax identification number and to provide the competent authorities, for the purpose of transferring to the competent authority of a Participating State, data concerning persons residing in a Participating State under the tax law of that Participating State.
In case of a change in circumstances which may affect the tax residence of the Client, the Client is required to immediately notify EPMAP Ltd. about it and then to submit the statement again, within 30 days from the occurrence of such circumstances.
A Participating State shall mean: a) a Member State other than Romania b) a country or territory other than the United States of America with which Romania has concluded an agreement concerning automatic exchange of information on reporting accounts (c) a country or territory other than the United States of America with which the European Union has concluded an agreement providing for automatic exchange of information about reported account listed in a list published by the European Commission. The list of participating countries referred to in points (b-c) shall be published by the competent authorities.
