Definition ∞ Global tax standards are internationally agreed-upon principles and rules designed to ensure consistent and fair taxation across different jurisdictions, particularly for multinational entities and cross-border transactions. These standards aim to combat tax evasion, prevent harmful tax competition, and promote transparency in financial reporting. Organizations like the OECD play a central role in developing and advocating for these unified guidelines.
Context ∞ The application of global tax standards to digital assets is a major topic in crypto news, as governments worldwide seek to establish a uniform approach to taxing cryptocurrency income and gains. Efforts by the OECD to create a Crypto-Asset Reporting Framework (CARF) exemplify this push for international consistency. The implementation of these standards will significantly impact tax compliance requirements for individuals and businesses involved in the digital asset economy.
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