European Commission publishes crypto and other revised reporting proposals for tax (DAC8)

The European Parliament’s recommendations to the EU Commission on a fair and simple taxation strategy included further categories of income and assets, such as crypto assets, to include in the scope of automatic exchange of information. The seventh potential update published by the European  Commision to the EU’s Directive on Administrative Cooperation on Tax (DAC), which would make this DAC8, is to address certain deficiencies that have been identified in the scope of the automatic exchange of information, including to set minimum levels of financial penalties with respect to  serious non-compliance.

Source PwC

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