The Netherlands Ministry of Finance has initiated a public consultation on a draft bill regarding the implementation of the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226) (DAC8). The consultation will commence from 24 October to 21 November, 2024.
The European DAC8 Directive aims to create more transparency regarding crypto asset ownership, which will help combat tax avoidance and evasion better. It also facilitates enhanced information exchange on cross-border rulings for high-net-worth individuals and sets penalties and compliance measures for reporting obligations. DAC8 also provides for several other amendments to the DAC Directive.
This directive is the seventh amendment to the DAC Directive and is due to enter into force on 1 January 2026.
As of 1 January 2026, crypto service providers in the EU will be required to annually collect, verify, and share specific data about their users with the tax authorities of the Member State in which they are registered for DAC8. The tax authorities will exchange the reported data relating to residents of other EU Member States with those other EU Member States.
As the Netherlands implements the OECD Crypto-Asset Reporting Framework (CARF), data will also be exchanged with non-Union jurisdictions that also implement the CARF under the Convention on Mutual Administrative Assistance in Tax Matters (WABB) and the multilateral competent authorities agreement for the CARF (the CARF MCAA).
The draft bill addresses only those aspects of DAC8 that must be implemented into domestic law by 31 December 2025.
