Information exchange and cryptocurrencies

The Commission has invited public comments on the impact assessment a proposed revision to the Directive on Administrative Cooperation (which would be DAC 8) by 21 December 2020. This follows the Commission’s adoption, in July 2020, of the action plan for fair and simple taxation supporting the recovery strategy, of which the proposed revision to the Directive forms a part. The revision aims to improve cooperation between national tax authorities, particularly in emerging areas such as cryptoassets. This initiative would provide tax administrations with information to identify taxpayers who are actively using new means of exchange, notably cryptoassets and e-money. Once the Commission's proposal is published, there will be a further public consultation, currently planned for early 2021.