Belgium has introduced a bill to implement DAC8, establishing the Crypto-Asset Reporting Framework (CARF) from 1 January 2026. The law expands reporting to digital assets, strengthens transparency, increases cross-border tax cooperation, and imposes strict compliance, data protection, and penalty measures for service providers.
The government has presented the bill No. 56 1249/001 of 17 December 2025 to parliament on 9 January 2026 to implement the Amending Directive to the 2011 Directive on Administrative Cooperation (DAC8, 2023/2226). Set to take effect retroactively from 1 January 2026, the bill introduces new rules for reporting and sharing tax-related information on electronic money and crypto-assets.
This legislative proposal outlines the transposition of EU Directive 2023/2226 (DAC8) into Belgian law to enhance tax transparency for digital assets. It establishes the Crypto-Asset Reporting Framework (CARF), which requires service providers to collect and automatically exchange information on transactions involving crypto-assets.
The legislation clarifies key terms such as electronic money tokens and central bank digital currencies, sets due diligence requirements for financial entities, establishes penalties for non-compliance, limits tax data retention to 10 years, and includes an impact analysis and legal advice on integrating the rules into the tax code.
Updates to the common reporting standard (CRS)
New asset classes: The reporting scope now includes electronic money (e-money) and Central Bank Digital Currencies (CBDC).
Detailed transparency: Reporting rules have become more detailed, now requiring information on entity controllers, the validity of self-certifications, and the number of co-holders for joint accounts to ensure accurate income allocation.
Expanded administrative cooperation
The bill increases the exchange of information in other tax-sensitive areas:
High-value rulings: Automatic exchange is extended to advance cross-border rulings for natural persons when the transaction value exceeds EUR 1,500,000 or when the ruling determines tax residency.
Dividend income: Reporting now covers dividends paid through “non-custodial” accounts—those paid directly without an intermediary—to close existing loopholes.
Compliance, privacy, and penalties
To ensure effectiveness, the bill introduces a rigorous compliance and data protection regime:
Due diligence: Service providers must identify reportable users and beneficial owners. If a user fails to provide required information after two reminders, the provider must prevent them from performing further transactions.
GDPR compliance: The bill aligns with GDPR principles, designating providers and authorities as data controllers. Data is generally retained for up to 10 years.
Sanctions: Penalties are designed to be “effective, proportionate, and dissuasive”. For example, a EUR 25,000 fine applies for failing to register, while continuing activity after registration revocation can result in a EUR 50,000 fine.
