The European Commission released a public consultation on the proposed draft of new transparency rules for digital currency amending Directive 2011/16/EU on administrative cooperation in taxation.
Tax authorities can only ensure taxes are paid if they keep track of the money made from crypto assets well enough. So, the proposal’s goal is to make the laws that are already in place stronger, fill in any holes, and ensure they are being followed appropriately.
The proposed draft includes the following:
The deadline for the public consultation is on 6 February 2023, and the new reporting requirements will go into force on 1 January 2026.