Germany: Draft bill implementing directive on tax transparency rules for cryptoasset service providers (DAC8)
The rules are proposed to be effective January 1, 2026.
The federal government published a draft bill on the implementation of EU Directive 2023/2226 (DAC8) into national law, which must be completed by December 31, 2025, with application from January 1, 2026.
The bill would also implement the model rules for reporting by cryptoasset service providers in accordance with the OECD’s cryptoasset reporting framework (CARF) and the amendments to the common reporting standard (CRS) with regard to financial accounts.
Further DAC8 regulations relating to existing administrative assistance instruments will be implemented by amending the EU Administrative Assistance Act, the Financial Account Information Exchange Act, the Fiscal Code, and the Platform Tax Transparency Act.
The existing due diligence and reporting obligations of domestic financial institutions under the Financial Account Information Exchange Act will be specified and extended by law to include digital financial products such as e-money or digital central bank money, which are not covered by the reporting requirements for cryptoassets.
The draft law also includes regulations to expand the automatic exchange of information between EU member states on certain categories of income and assets to include information on dividends from companies whose shares are not held in a bank custody account. In addition, the exchange of cross-border advance rulings will be extended to include certain advance tax rulings relating to natural persons.
For more information, contact a KPMG tax professional in Germany:
Julian Fey | jfey@kpmg.com