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Ireland signs up to international crypto plan

13 Nov 2023 / taxation Print

Ireland signs up to international crypto plan

Ireland is among 48 countries that have signed up to a statement committing them to exchanging information on crypto-assets by 2027.

The Crypto Asset Reporting Framework (CARF) is an international standard for the automatic exchange of crypto information between tax authorities, developed at the OECD.

CARF is being delivered within the EU through an amendment to the Directive on Administrative Co-Operation.

Tax evasion

“The widespread, consistent and timely implementation of the CARF will further improve our ability to ensure tax compliance and clamp down on tax evasion, which reduces public revenues and increases the burden on those who pay their taxes,” the countries stated.

The Department of Finance said that the move “reinforces Ireland's commitment to best international practice in tax transparency”.

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland