The German Ministry of Finance announced a public consultation regarding the implementation of Council Directive (EU) 2023/2226, which amends Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC 8).
The draft bill was introduced on 4 November, 2024. Interested parties are invited to submit their feedback by 14 November 2024 in the Ministry’s website.
The European Council approved DAC8 in October 2023, incorporating elements from the OECD’s Crypto-Asset Reporting Framework (CARF) and the revised Common Reporting Standard (CRS) for the automatic exchange of financial account information in tax matters.
DAC8 seeks to introduce new regulations aimed at reporting and exchanging information for tax purposes on e-money and crypto assets, exchanging information on cross-border rulings related to high-net-worth individuals, and implementing penalties and compliance measures for various reporting obligations under the DAC framework.
EU Member States are required to enact and publicise the laws, regulations, and administrative measures needed to adhere to DAC8 by 31 December 2025. While most provisions should be implemented starting from 1 January 2026, certain specific provisions will not come into effect until 1 January 2028.
