EU Parliament Approves Sweeping Crypto Tax Reporting Rule DAC8 Despite Criticisms

The EU parliament overwhelmingly voted in support of DAC8, a crypto tax reporting rule, with 535 votes for, 57 against, and 60 abstentions.
DAC8 aims to empower tax authorities to track and assess all crypto transactions by EU individuals and organizations.
The vote on Sept. 13 was the final step before DAC8's passage. EU states have until end of 2025 to implement it before it takes effect in 2026.
DAC8 adheres to the Crypto-Asset Reporting Framework (CARF) and legislation in MiCA and covers all EU crypto asset transactions.
Some critics say DAC8 has little to differentiate from CARF and takes oversight from individual states. There are also concerns over duplicate reporting.

cointelegraph.com

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Posted 9/13/2023, 7:18:45 PM