- The Estonian Parliament is considering a bill to implement new EU (DAC8) and OECD (CARF) reporting standards for crypto-assets and financial accounts.
- The bill requires crypto-asset service providers to collect and report user and transaction information, and introduces due diligence and recordkeeping for tax residency.
- CRS rules will be expanded to include electronic money products, central bank digital currencies, and certain cross-border tax rulings for high-net-worth individuals.
- The bill clarifies reporting requirements and aims to prevent duplicate reporting under CARF and CRS.
- If adopted, the new reporting obligations will apply from January 1, aligning Estonia’s laws with international standards.
Source: globalvatcompliance.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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