On 8 December 2022, the European Commission proposed a text amending Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC8). DAC8 provides, among other things, the following: changes to the existing DAC framework, rules on advance cross-border rulings for high-net-worth individuals, and a crypto-asset reporting framework for competent EU authorities. The focus of this alert is on the Crypto-Asset Reporting Framework (CARF), intended to enter into force on 1 January 2026. Within the current DAC framework, crypto-assets are excluded from information exchange.
Source Baker & McKenzie
