New Zealand’s new taxation bill aligns with the OECD’s CARF, imposing penalties for non-compliance starting in 2026.
The Reserve Bank of New Zealand is exploring the potential benefits of implementing CBDC.
The Ministry of Revenue introduced the taxation bill. This new proposal is to implement the crypto-reporting framework created by the Organisation for Economic Cooperation and Development (OECD). This was introduced by Hon Simon Watts on 26 August 2024. The proposals will take effect from 1 April 2026, with the first reports due by June 30, 2027.
The bill would incorporate the CARF proposal into New Zealand law. Since the crypto assets are transferred and stored digitally, the OECD developed the Common Reporting Standard. To gather information and report the financial account information of entities investing outside the jurisdiction. The implementation of the Crypto-asset Reporting framework (CARF) is for automatically exchanging financial information regarding cry
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