On March 22, 2022, the Organisation for Economic Cooperation and Development (OECD), published a public consultation document regarding a new global tax transparency framework for reporting and exchange of crypto-asset information and proposed amendments to the Common Reporting Standard (CRS). This is due to the increase in use of crypto-assets, which may be exploited to undermine the CRS and other global initiatives. The proposals seek to provide provisions that improve due diligence procedures and reporting outcomes. There will be a public consultation meeting at the end of May 2022.
In the meantime, the OECD invites interested parties to send comments by April 29, 2022 by e-mail to email@example.com.
Check out the OECD Public Consultation Document here:
And the OECD notice here:
Make sure to follow Comply Exchange for more industry updates and subscribe to the Comply Catch-up for a full industry round-up at the end of each month!