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01/27 06:40

Australia Seeks Public Input on Crypto Tax Reporti

Australia Seeks Public Input on Crypto Tax Reporting

The Australian Treasury has invited public feedback on implementing the Organization for Economic Cooperation and Development (OECD)’s crypto asset reporting model.
Tackling Crypto-Linked Tax Evasion
The Australian Treasury has invited the public to comment on options for the country’s implementation of the Crypto Asset Reporting Framework (CARF). In a consultation paper released Nov. 21, the Treasury said its implementation of CARF, developed by the Organization for Economic Cooperation and Development (OECD), “would complement the government’s efforts to strengthen tax transparency.”
The paper will explore the policy merits of adopting the OECD model into domestic tax law and consider an implementation timeline that minimizes compliance costs. The rapid growth of cryptocurrency markets is said to have presented challenges for governments in ..

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