Collective engagement on international exchange of information on crypto-asset transactions
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The Government has signed up to a collective engagement to implement the multilateral framework for automatic exchange of information in tax matters regarding crypto-assets. Automatic exchange of information is intended to prevent tax evasion and avoidance.
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Sweden is one of a number of countries that have signed up to a collective engagement to implement the OECD’s standard on automatic exchange of information between tax authorities – the Crypto-Asset Reporting Framework (CARF) – as well as the Common Reporting Standard (CRS 2.0) for exchange of information on financial accounts.
The EU has previously adopted a directive on automatic exchange of information and reporting on transactions in crypto-assets (DAC8). However, given the digital nature of crypto-assets, there is a risk of DAC8 being circumvented through the use of trading venues in third countries that lack reporting or information exchange requirements. This means that it is crucial that the CARF is used as widely as possible throughout the world.
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