-
The
Netherlands
wants
to
gather
views
from
stakeholders
before
it
submits
a
bill
on
crypto
tax
reporting
to
the
House
of
Representatives
by
the
first
half
of
2025. -
The
aim
of
the
bill
is
to
create
more
transparency
to
prevent
tax
avoidance
and
evasion,
Folkert
Idsinga,
State
Secretary
for
Taxation
and
Tax
Authorities
said.
-
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Game-Changer:
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Outperforming
Amid
Memecoin
Frenzy
The
Netherlands
launched
a
consultation
on
Thursday
on
a
bill
that
would
require
crypto
services
to
share
their
users’
data
with
tax
authorities.
The
European
Union
(EU)
member
state
is
making
this
step
in
response
to
a
European
directive
–
known
as
DAC8
–
which
requires
crypto
service
providers
in
the
EU
to
collect
and
report
data
about
their
users
to
tax
authorities.
These
authorities
exchange
data
with
other
member
states.
The
aim
of
the
bill
is
to
create
more
transparency
to
prevent
tax
avoidance
and
evasion,
said
Folkert
Idsinga,
the
state
secretary
for
Taxation
and
Tax
Authorities,
in
a
government
statement.
“In
the
future,
EU
member
states
will
be
able
to
cooperate
better
thanks
to
the
exchange
of
data
and
transactions
with
cryptos
[which]
will
become
transparent
to
tax
authorities,”
Idsinga
said.
The
country
wants
to
gather
views
from
stakeholders
before
the
bill
is
submitted
to
the
House
of
Representatives
by
the
first
half
of
2025.
The
consultation
will
close
on
Nov.
21.
Countries
around
the
world
like
the
U.K.
and
New
Zealand
have
been
taking
steps
to
implement
the
Organization
for
Economic
Co-operation
and
Development’s
tax
reporting
framework
that
is
also
meant
to
foster
more
transparency
between
nations.
