Published: August 12, 2021
Last Updated: August 24, 2021
Canadian tax expert David Rotfleisch was recently cited in an article on thelawyersdaily.ca. He mentions that the Organization for Economic Cooperation and Development (OECD) pledged to release an updated common-reporting standard by the end of 2021.
“The updated common-reporting standard will feature model tax rules whereby the tax authorities of OECD-member countries shall automatically exchange information concerning cryptocurrency transactions and holdings of taxpayers under their jurisdiction. Of course, if an OECD-member country like Canada plans on implementing the OECD’s recommendations, it must first enact a cryptocurrency-reporting regime locally.”
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