International tax standards are globally agreed-upon rules and guidelines for how income and assets are taxed across different countries. These standards aim to prevent tax evasion, avoid double taxation, and promote fiscal transparency. For crypto-assets, they provide guidance on reporting requirements and tax treatment for cross-border digital asset transactions. Adherence to these standards helps maintain fairness and stability in the global tax system.
Context
The development and adoption of international tax standards for crypto-assets are a priority for global fiscal authorities. The borderless nature of digital assets necessitates common approaches to ensure equitable taxation and prevent illicit financial activities. Ongoing work, such as the OECD’s Crypto-Asset Reporting Framework, seeks to establish a global consensus on how crypto transactions and holdings should be reported and taxed.
The synchronized global adoption of CARF and DAC8 transforms digital assets into a fully reportable class, demanding immediate, systemic updates to cross-border transaction compliance architecture.
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