Although the aim of the tax authorities is in general to the benefit of each of their societies, the exchange of information and transfer of personal data to other countries may conflict with the rights granted to citizens under data protection law due to different standards and levels of protection.
With GDPR being one of the intriguing matters all over the globe and especially following the EUCJ judgment in the Schrems II case the issue of the level of protection in other countries becomes highly relevant.
We in JPM believe that the main advantage of experts in various fields of law working together is the possibility to combine their expertise to shed light on issues from various angles.
In the text prepared by our Partners Nikola Đorđević and Ivan Milošević and Senior Associate Andrea Cvetanović (which you can access using the following link), we are discussing the transfer regimes applicable to transfer of personal data for tax purposes conducted as automatic exchange of information and safeguards which should be introduced in a legally binding document executed between authorities. Particular emphasis has been given to agreement to be executed between competent bodies of the Republic of Serbia and the United States of America pursuant to the FACTA Agreement.