Finland Proposes Crypto Reporting Requirement to Tax Authority

Finland’s government proposed a legislative amendment that would require cryptocurrency asset service providers to report their customers’ aggregate annual transaction information to the country’s tax authority.

The amendment Finland’s Finance Ministry proposed Thursday would transpose an EU directive known as DAC 8, which dictates the automatic exchange of tax information, including those deriving from crypto assets, between member countries.

“The Tax Administration has not had comprehensive information on cryptocurrency transactions to date,” the Finnish government wrote in its press release announcing the measure. “Notifications have been based on taxpayers’ own declarations or on the Tax Administration’s supervision.”

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