European Parliament Draft Report On Crypto

A draft report on the impact of crypto and blockchain on taxation was tabled before the European Parliament sub-committee on tax matters on 25 April 2022. The draft report consists of a motion for a European Parliament resolution, which, when passed, will be forwarded to the European Council and the European Commission. The draft resolution contains a range of recommendations for the European Commission and the EU Member States, including digital levelling-up for EU tax administrations, a European approach on the taxation of crypto-assets and enhancing crypto-asset information exchange among EU tax administrations. The draft resolution also emphasises the importance of sufficient anti-tax fraud policies in the digital and crypto space and suggests the exploration of the potential use of blockchain to facilitate tax compliance.