EU crypto asset tax bill obliges NFT platforms and foreign companies to register | coindesk JAPAN | Coindesk Japan
According to a bill published by CoinDesk under the Freedom of Information Act, the European Union (EU) plans to force crypto-related companies to provide details of their customers’ assets to tax authorities.
The data-sharing law, based on the Organization for Economic Co-operation and Development (OECD) model, is due to be agreed by EU finance ministers next week and will allow tax authorities to share data within their bloc of 27 countries. It’s something to do. European Commission officials say the bill received unanimous approval at its meeting on May 10, but a person familiar with the matter told CoinDesk that some countries’ finance ministers have yet to receive formal approval from parliament. said it had not received any approval.
The May 5 bill follows a proposal submitted by the European Commission in December 2022 to prevent EU residents from moving crypto assets (virtual currencies) out of the EU in an attempt to hide them from tax authorities. They are almost identical. The European Commission will have until December 2025 to create a register of crypto-asset managers, bringing forward the previous deadline by one year and applying this rule from January 1, 2026. .
Controversially, the law, known as the 8th Directive on Administrative Cooperation (DAC8), will allow platforms trading NFTs (Non-Fungible Tokens) that can be used for payments and investments, as well as those outside the EU with EU customers. still include providers of
Non-EU crypto businesses can also report to foreign authorities that meet EU standards.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: EU Crypto Tax Plans Include NFTs, Foreign Companies, Draft Text Shows
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