Netherlands: Draft bill implementing directive on tax transparency rules for cryptoasset service providers (DAC8)

A new draft bill implementing EU Directive 2023/2226 (DAC8), aimed at increasing transparency regarding cryptoasset ownership.

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December 4, 2024

The Ministry of Finance in late October 2024 issued a new draft bill implementing EU Directive 2023/2226 (DAC8), aimed at increasing transparency regarding cryptoasset ownership.

Once DAC8 enters into force on January 1, 2026, cryptoasset service providers in the EU will be required to annually collect, verify, and share specific user information with the tax authorities of their registered member state for DAC8 purposes. The tax authorities will then exchange the received information on residents of other EU member states with those states. However, since the Netherlands has adopted the OECD cryptoasset reporting framework (CARF), the draft bill mandates the exchange of information with non-EU jurisdictions that have adopted CARF under the Convention on Mutual Administrative Assistance in Tax Matters and the CARF Multilateral Competent Authorities Agreement.

Read a November 2024 report prepared by the KPMG member firm in the Netherlands

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