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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Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
