The Organization for Economic Cooperation and Development (OECD) is looking for input on a new proposal for crypto tax rules.
The OECD is an intergovernmental organization encompassing 38 member nations. The body resembles a think tank that recommends international standards for economic policy and financial crime crime reduction, with participating nations implementing the standards to avoid being black listed by fellow OECD nations. In recent years, it’s focused on international tax reform through its Common Reporting Standard (CRS).
The G20 tasked the OECD with developing a framework for information sharing among crypto providers in different jurisdictions. Now, the OECD is circulating a draft of the first portion of its Crypto Asset Reporting Framework (CARF), an in-progress proposal that will ultimately designate standards for the collection and exchange of information during crypto transactions, particularly related to tax reporting.
This first draft contains rules and comment
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