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DAC 8 – Mandatory disclosure of information on crypto-assets?

DAC 8 – Mandatory disclosure of information on crypto-assets?

WebMar 20, 2024 · Many crypto investors believe that the exchanges on which they bought or sold digital assets already collect the relevant tax. However, until the end of 2024, this is not the case. Traditional stockbrokers are often “tax-efficient,” meaning that the broker already deducts your capital gains tax when you sell an investment product like stocks. WebFollowing into the OECD’s footsteps, on 8 December 2024, the EU Commission issued the 7 th amendment to the Directive on Administrative Co-operation (DAC) (i.e., DAC8). DAC8 builds on the Regulation on Markets in Crypto-Assets (MICA) and the Transfer of Funds Regulation (TFR), thereby avoiding imposition of additional administrative burdens ... consulting civil engineer WebDAC8 is expected to introduce “uniform disclosure requirements for e-money and crypto intermediaries (e.g. crypto exchanges) to ensure tax authorities across the EU have increased visibility in respect of the evolving digital economy and crypto-assets in particular,” observes a recent Grant Thornton factsheet. WebDAC: •Include crypto-assets and e-money in the scope of DAC2. •Define a specific stand-alone framework within DAC for crypto-assets and e-money. To consider: •Account for … consulting civil engineer visiting card WebMar 28, 2024 · We take a close look at the best crypto wallets in 2024, what makes a good wallet, the pros and cons of different wallet types, how to find the right wallet WebDAC8: Industry Position Paper consulting civil engineering companies WebDec 28, 2024 · With the emergence of crypto-assets and e-money, DAC 8 is intended to modernize the scope of the current directive. Scope. Following DAC 8, crypto-asset service providers such as crypto exchanges will be obligated to carry out know-your-client due diligence procedures with EU-clients, regardless if they themselves are located in a …

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