The Dutch tax authorities updated the Act to Prevent Money Laundering and Financing Terrorism (Wwft) on 19 September 2018. This bill followed the 4th European Anti-money Laundering Directive (AMLD4).
The EU has drawn up a list of risk countries. If a country is on this list, every transaction with that country must be reported to the Financial Intelligence Unit-Netherlands (FIU-the Netherlands). The data retention requirement is more specifically described. The obligation for the institution reporting a transaction to FIU-the Netherlands of keeping proofs has now been specified in Article 34 of the new Wwft.
Source: Dutch Tax Authorities
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