- Bulgaria is advancing a bill to implement EU Directives DAC8 and DAC9 on tax administrative cooperation.
- The bill introduces new reporting and information exchange requirements for crypto-assets, OECD Pillar Two rules, and updates to the common reporting standard (CRS).
- Automatic exchange of information will expand to include crypto-asset users and additional tax data on multinational and large domestic groups.
- Crypto-asset service providers must implement user due diligence by January 1, 2027.
- Penalties will be imposed for noncompliance with crypto-asset reporting obligations.
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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