OECD releases cryptoasset reporting framework and CRS amendments

The OECD on March 22 released a public consultation document regarding the Crypto-Asset Reporting Framework (CARF) — a new global tax transparency framework on the development of automatic information exchange with respect to crypto-assets — as well as proposed amendments to the existing Common Reporting Standard (CRS). The consultation document is intended to inform policy decision makers on the possible adoption of CARF and its related design components. The proposed framework has been developed in light of concerns that crypto-assets could be used to undermine the existing international tax transparency framework, including CRS.

Source PwC

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