Doss. Bitcoins e.a. // De CARF definieert de relevante crypto-activa in reikwijdte en de tussenpersonen en andere dienstverleners die onderworpen zullen zijn aan rapportage. Daarbij neemt de CARF recente ontwikkelingen in wereldwijde antiwitwasnormen mee
De CARF definieert de relevante crypto-activa in reikwijdte en de tussenpersonen en andere dienstverleners die onderworpen zullen zijn aan rapportage. Daarbij neemt de CARF recente ontwikkelingen in de wereldwijde antiwitwasnormen van de Financial Action Task Force mee.
OECD Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard
In light of the rapid development and growth of the Crypto-Asset market and to ensure that recent gains in global tax transparency will not be gradually eroded, in April 2021 the G20 mandated the OECD to develop a framework providing for the automatic exchange of tax-relevant information on Crypto-Assets. In August 2022, the OECD approved the Crypto-Asset Reporting Framework (CARF) which provides for the reporting of tax information on transactions in Crypto-Assets in a standardised manner, with a view to automatically exchanging such information. The CARF defines the Relevant Crypto-Assets in scope and the intermediaries and other service providers that will be subject to reporting. In doing so, the CARF incorporates recent developments in the global anti-money laundering standards of the Financial Action Task Force.
In line with the CRS, the due diligence procedures require the identification of both individual and Entity customers, as well as their Controlling Persons. The CARF requires reporting on an aggregate basis, divided by type of Crypto-Asset and type of transaction. In August 2022, the OECD has also approved amendments to the CRS to bring certain electronic money products and Central Bank Digital Currencies in scope. In light of the CARF, changes have also been made to ensure that indirect investments in Crypto-Assets through derivatives and investment vehicles are now covered by the CRS. In addition, amendments have been made to strengthen the due diligence and reporting requirements (including requiring the reporting of the role of each Controlling Person) and to foresee a carve-out for genuine non-profit organisations.
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