Based on these findings it was concluded that the Czech Republic is fully meeting expectations in relation to sorting, preparing and validating the information. The Czech Republic is encouraged to continue its implementation process accordingly, to ensure its ongoing effectiveness.
Recommendations:
No recommendations made.
SR 2.5 Jurisdictions should agree and use, with each exchange partner, transmission methods that meet appropriate minimum standards to ensure the confidentiality and integrity of the data throughout the transmission, including its encryption to a minimum secure standard.
Findings:
In order to put in place an agreed transmission method that meets appropriate minimum standards in confidentiality, integrity of the data and encryption for use with each of its exchange partners, the Czech Republic linked to the CTS and the CCN, which is used for exchanges within the EU.
Based on these findings it was concluded that the Czech Republic is fully meeting expectations in relation to agreeing and using appropriate transmission methods with each of its partners. The Czech Republic is encouraged to continue to ensure the ongoing effectiveness of its implementation.
Recommendations:
No recommendations made.
SR 2.6 Jurisdictions should carry out all exchanges annually within nine months of the end of the calendar year to which the information relates.
Findings:
One exchange partner highlighted delays in the sending of information by the Czech Republic. It was noted that the Czech Republic successfully addressed all of the issues and sent the information as soon as possible thereafter.
Based on these findings it was concluded that the Czech Republic is fully meeting expectations in relation to exchanging the information in a timely manner. The Czech Republic is encouraged to continue to ensure the ongoing effectiveness of its implementation.
Recommendations:
No recommendations made.
SR 2.7 Jurisdictions should send the information in accordance with the agreed transmission methods and encryption standards.
Findings:
Feedback from the Czech Republic’s exchange partners did not raise any concerns with respect to the Czech Republic’s use of the agreed transmission methods and therefore with the Czech Republic’s implementation of this requirement.
Based on these findings it was concluded that the Czech Republic is fully meeting expectations in relation to sending the information in accordance with the agreed transmission methods and encryption standards. The Czech Republic is encouraged to continue to ensure the ongoing effectiveness of its implementation.
Recommendations:
No recommendations made.
SR 2.8 Jurisdictions should have the systems in place to receive information and, once it has been received, should send a status message to the sending jurisdictions in accordance with the CRS Status Message XML Schema and the related User Guide.
Findings:
One exchange partner highlighted delays in the sending of status messages by the Czech Republic. It was noted that The Czech Republic appears to be successfully addressing the issues to ensure that status messages are sent in accordance with the requirements.
Based on these findings it was concluded that the Czech Republic is fully meeting expectations in relation to the receipt of the information. The Czech Republic is encouraged to continue to ensure the ongoing effectiveness of its implementation.
Recommendations:
No recommendations made.
SR 2.9 Jurisdictions should respond to a notification from an exchange partner as referred to in Section 4 of the Model CAA (which may include Status Messages) in accordance with the timelines set out in the Commentary to Section 4 of the Model CAA. In all other cases, jurisdictions should send corrected, amended or additional information received from a Reporting Financial Institution as soon as possible after it has been received.
Findings:
The Czech Republic appears ready to respond to notifications and to provide corrected, amended or additional information in a timely manner and no such concerns were raised by the Czech Republic’s exchange partners and therefore with respect to the Czech Republic’s implementation of these requirements.
Based on these findings it was concluded that the Czech Republic appears to be meeting expectations in relation to responding to notifications from exchange partners and sending of corrected, amended or additional information. The Czech Republic is encouraged to continue to ensure the ongoing effectiveness of its implementation.
Recommendations:
No recommendations made.