Netherlands Starts Consulting on Crypto Tax Reporting Bill

The Netherlands launched a consultation on Thursday on a bill that would require crypto services to share their users' data with tax authorities. The European Union (EU) member state is making this step in response to a European directive – known as DAC8 – which requires crypto service providers in the EU to collect and report data about their users to tax authorities. The aim of the bill is to create more transparency to prevent tax avoidance and evasion, said Folkert Idsinga, the state secretary for Taxation and Tax Authorities, in a government statement. The country wants to gather views from stakeholders before the bill is submitted.

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