Cyprus Tax Agency Announces Entry Into Force of DAC8 Amendment Law

The Cypriot Tax Department April 2 announced that an amendment law for EU Directive 2023/2226 (DAC8) on administrative cooperation in the field of taxation, entered into force Jan. 1. The law includes measures: 1) specifying reporting obligations, due diligence requirements, and other rules for reporting crypto-asset service providers, for purposes of the automatic exchange of information (AEOI); 2) setting a deadline of June 30, 2027, for the first submission of information by reporting crypto-asset service providers, for calendar year 2026 data; and 3) clarifying that the deadline also applies to reportable users of crypto-assets who are tax resident in Cyprus. ...