OECD Presents Crypto Tax Reporting Framework
Source: OECD The Organisation for Economic Co-operation and Development (OECD), an intergovernmental organization that seeks to stimulate economic progress, has published a global framework for crypto tax reporting. According to a press release, the framework, dubbed the Crypto-Asset Reporting Framework (CARF), was approved in August and ensures "the collection and automatic exchange of information on transactions for relevant crypto ." The scope of the record also includes crypto exchanges, brokers, ATM operators, and other intermediaries and service providers facilitating exchanges between relevant crypto assets. "The current scope of assets, as well as the scope of obliged entities, covered by the Common Reporting Standard (current standards) do not provide tax administrations with adequate visibility on when taxpayers engage in tax-relevant transactions in, or hold, relevant crypto assets," the report said. The CARF was reportedly develope...