The EU Commission has launched a public consultation on a proposal to expand the Directive on Administrative Cooperation, to provide for the exchange of information in the field of taxation to include crypto-assets and e-money.
The objective of the consultation is to collect data and evidence needed to evaluate the need for new rules on reporting and exchange of information for tax purposes on e-money and crypto assets as well as new rules on penalties and compliance measures for the various reporting obligations under the DAC framework and the potential scope of those provisions. To this aim the consultation should gather the views of the stakeholders concerned on the use of e-money and crypto-assets, what information is available and which reporting mechanisms could be used. Furthermore, it aims to gather views on appropriate penalties and compliance measures and the coordination of such measures among Member States. In particular, the information gathered through the consultation should allow a definition of reporting requirements that ensure fair taxation while avoiding excessive administrative burden and at the same time providing for a level playing field and a common regulation for the 27 EU Member States. In relation to the penalties and compliance measures the input gathered through the consultation should allow a more precise and common definition of effective, proportionate and dissuasive penalties and compliance measures to avoid tax avoidance and potential distortions of the internal market.