EU Formally Agrees on New Crypto Tax Data Sharing Rules
www.coindesk.com/policy/2023/10/17/eu-formally-agrees-on-new-crypto-tax-data-sharing-rules/
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The law, known as the Eighth Directive on Administrative Cooperation (DAC8), forces crypto companies to report information on customers' holdings that will automatically be shared between tax authorities.
EU Formally Agrees on New Crypto Tax Data Sharing Rules
"The directive will improve Member States' ability to detect and combat tax fraud, avoidance and evasion, by requiring all EU-based crypto-asset service providers, regardless of their size, that they report transactions from customers residing in the EU,"
The rules, set to be published in the EU's official journal, force crypto firms to report on customers' holdings to be shared between tax authorities.
EU Formally Agrees on New Crypto Tax Data Sharing Rules
The law, known as the Eighth Directive on Administrative Cooperation (DAC8), forces crypto companies to report information on customers' holdings that will automatically be shared between tax authorities.
"The directive will improve Member States' ability to detect and combat tax fraud, avoidance and evasion, by requiring all EU-based crypto-asset service providers, regardless of their size, that they report transactions from customers residing in the EU," the Commission said in a statement on Tuesday.
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