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OECD Seeks Public Comment on Reporting Crypto-Assets and Amendments to the CRS

OECD Seeks Public Comment on Reporting Crypto-Assets and Amendments to the CRS

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 taxpublicconsultation@oecd.org.

Check out the OECD Public Consultation Document here:

https://www.oecd.org/tax/exchange-of-tax-information/public-consultation-document-crypto-asset-reporting-framework-and-amendments-to-the-common-reporting-standard.pdf

And the OECD notice here:

https://www.oecd.org/ctp/exchange-of-tax-information/oecd-seeks-input-on-new-tax-transparency-framework-for-crypto-assets-and-amendments-to-the-common-reporting-standard.htm

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OECD Seeks Public Comment on Reporting Crypto-Assets and Amendments to the CRS

This document contains general information only and is not a substitute for accounting, tax, or any other professional advice or services. The information provided is considered accurate at the time of publishing and will not be updated with new regulation requirements.

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