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Tax fraud and cryptocurrencies: European Commission proposes new rules

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Through a proposalthe European Commission wants to please cryptographic platformsincluding outside the EUto declare the transactions of its European customers.

This Thursday, without great surprise, the European Commission proposed to new standards tax transparency rules for companies offering services. services related to the cryptocurrency a customers based inEU.

Today’s proposal will enhance the ability of member states to. detect and combat tax fraud and tax evasion.by requiring all cryptoasset service providers, regardless of their size or location, to report transactions of EU-resident customers,” reads a official statement.

These new rules, which take the form of an amendment to the Administrative Cooperation Directive (ACD) and supplement the MiCA Regulation, must now be. validated by the Parliament and the European Council. They could enter into force as soon as 2026.

Anonymity means that many cryptoasset users who make significant profits go unnoticed by national tax authorities. This is unacceptable. Our proposal will ensure that Member States get the information they need to make sure that taxes are paid on profits made from trading or investing in cryptoassets,” said Paolo Gentiloni, EU Commissioner for Economic Affairs.

The proposal could raise up to €2.4 billion, according to several media outlets citing sources close to the matter.

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