The Council of the European Union has agreed on its position on the amendment of the directive on administrative cooperation in the tax field, mainly concerning the reporting of income from trading in crypto assets and information on automated transactions.
and Advance Tax Ruling Information for High Net Worth Individuals, with the aim of strengthening the existing legislative framework by extending the scope of registration and reporting obligations and general administrative cooperation of tax administrations.
The Directive covers a broad range of crypto-assets, building on the definitions set out in the Markets in Crypto-Assets Regulation (MiCA) adopted by the Council today.
In addition, those cryptoassets issued in a decentralized manner, as well as stablecoins, including electronic currency tokens and certain NFTs are also included in this scope.