OECD Aims to Release Crypto Tax Reporting Framework in 2021

Oct. 12, 2020, 11:41 AM

The OECD wants to design a tax reporting framework for cryptocurrency assets by 2021, the group’s leader said Monday.

The project aims “to design a tax reporting framework that will ensure tax transparency with respect to crypto-assets, including the income derived from the sale of such assets,” OECD Secretary-General Angel Gurría said in a report to the Group of 20 finance ministers and central bank governors, released Monday.

The framework could be used by countries hoping to better crack down on tax avoidance and regulate the hundreds of billions of dollars in crypto-assets globally, according to the report.

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