Amending Protocol with San Marino on automatic exchange of financial account information approved
Decision
The European Parliament approved the conclusion of the Amending Protocol on 13 October 2025 by simplified procedure, based on COM(2025)0398. Parliament instructed its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of the Republic of San Marino.
What Changes
The Protocol aligns the Agreement with the updated OECD Common Reporting Standard and EU DAC8, extends scope to electronic money products and central bank digital currencies and provides for interaction with the Crypto-Asset Reporting Framework. It replaces references to Directive 95/46/EC with the GDPR and adds safeguards for personal data transfers because San Marino lacks an adequacy decision; the CRS modifications apply from 1 January 2026 and corresponding DAC8 provisions will apply in the EU from that date.
Who Is Affected
The Protocol directly affects the EU Member States and the Republic of San Marino by governing their reciprocal automatic exchange of financial account information.
Sources
Official Documents
- REPORT on the proposal for a Council decision on the conclusion, on behalf of the Union, of the Amending Protocol to the Agreement between the European Union and the Republic of San Marino on the automatic exchange of financial account information to improve international tax compliance The European Parliament approves the conclusion of the Amending Protocol to the EU–San Marino agreement on automatic exchange of financial account information for tax compliance.
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