The Council of Ministers of Bulgaria has approved the signing of the Multilateral Competent Authority Agreement for the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF MCAA) on Wednesday, 13 November 2024.
The CARF MCAA is scheduled to be signed on 26 November 2024.
The Council of Ministers authorised the finance minister to sign the two accession declarations and submit them to the Organization for Economic Co-operation and Development (OECD), pending ratification.
Accession to the Multilateral Agreement on CARF and the Supplement to the Multilateral Agreement on CRS will enable Bulgaria to exchange information with partner jurisdictions outside the European Union.
The CARF mandates the standardised reporting of tax information on crypto-asset transactions, aiming for automatic information exchange.
This will improve Bulgaria’s reputation as a country that follows international standards for tax transparency and administrative cooperation.
