The Dutch government launched a public debate on a draft law that will require crypto services to collect and share user data with the tax authorities. The initiative will bring the country’s taxation into full compliance with European Union requirements.
According to the press release, the Dutch Ministry of Finance plans to ensure transparency regarding the ownership of cryptocurrencies and strengthen methods to combat tax evasion. As part of the initiative, the country’s tax policy will be synchronized with the pan-European directive DAC8 by 1 January 2026.
The European Council adopted the updated DAC8 tax directive in 2023. The bill amends the tax transparency regime for crypto transfer service providers by requiring them to collect information on all cryptocurrency transactions, regardless of the amount and initiator.
Folkert Idsinga, State Secretary for Tax Affairs and the Tax Administration, said the bill won’t require any additional action from crypto holders in the country. Local crypto users will continue to report ownership of digital assets to the country’s tax authorities. The draft law provides for the exchange of data between tax authorities of EU countries.
Feedback and suggestions on the bill will be accepted until November 21, 2024, and its adoption by the Dutch House of Representatives is scheduled for Q2 2025.
The Netherlands is also one of the 47 countries that implemented the Crypto-Asset Reporting Framework (CARF), which allows data exchange with states outside the eurozone, including the U.S., the U.K., and Canada.
Сообщение Netherlands to Change Requirements for Crypto Companies to Comply with EU Laws появились сначала на CoinsPaid Media.