Cryptocurrency
(BRUSSELS) – The EU Commission launched a consultation Thursday on revision of its directive to improve cooperation between national tax authoritiesy in emerging areas such as crypto-assets and e-money.
This initiative is designed to provide tax administrations with information to identify taxpayers who are actively using new means of payment and investment, notably crypto-assets and e-money, in order to curb tax fraud and evasion.
It will also ensure consistency with ongoing work at EU level, such as the Digital Finance Strategy adopted on 24 September 2020 and the proposal for a Regulation on Markets in Crypto-assets.
This revision is part of the Action Plan for Fair and Simple Taxation Supporting the Recovery that the Commission presented in July 2020. Since its adoption, the original Directive 2011/16/EU has so far been amended and extended six times, to include information on financial accounts, on tax rulings and advance pricing agreements, on country-by-country reports, on beneficial ownership, on reportable cross border arrangements and on digital platforms. Stakeholders are invited to provide input by the 2 June deadline.
