Global legislative update: Digital assets and tax information reporting webinar
Join us in this webinar for a brief discussion of the proposed developments, related practical impacts, and implications for digital assets stakeholders.
Global Information Reporting
Digital assets have been increasing in prominence and interest in, and ownership of, such assets has been increasing. In view of such developments and a sustained global focus on tax transparency, it has been a matter of time before tax information reporting was extended to digital assets.
With tax reporting proposals concerning digital assets (including cryptocurrency) now published, stakeholders should start preparing for the extension of rules and to satisfy reporting obligations. Preparations can be made through determining how to implement enhanced due diligence processes and defining processes necessary to discharge reporting obligations.
- The proposed extension of the United States’ Foreign Accounting Tax Compliance Act to digital assets; taking account of President Biden's Executive Order Ensuring Responsible Development of Digital Assets.
- Proposed extension of the Organisation for Economic Co-operation and Development (OECD)'s Common Reporting Standard to digital assets and the OECD's proposed new Crypto-asset Reporting Framework.
- Impacts upon digital asset ecosystem stakeholders.
- How your organisation can prepare for tax reporting on digital assets.