Our latest article co-written by Associates Adonis Zachariou, Theodora Alexandrou and Lawyer Trainee Christos Orfanidis, sheds light on the DAC8 draft proposal, now due for approval by the European Council, aiming to enable tax authorities to track the proceeds gained from crypto-asset trading. This article provides an overview of the reportable transactions under DAC8 and identifies the entities responsible for reporting transaction information. Additionally, it explains the scope of crypto assets covered by the directive, including transactions involving exchanges between different cryptocurrencies. The legislative process for DAC8 is currently underway, and it is expected to be adopted by Member States by 2026.
To view the online version of the article, please click here.