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DAC8: A New Era of Tax Transparency

Interview & podcast by paperjam.lu from 17.07.2025

New regulatory obligations will go live on January 1st 2026, and the impact could be bigger than you think…
But what exactly do these new obligations entail? Is DAC8 limited to digital assets? Who does it apply to? And how should you prepare?
Both ESMA and the CSSF have noted record levels of interest in crypto-assets - a trend that appears likely to persist. Robert Battison, Tax Regulatory Services Director at BDO, provides insight to help you stay ahead. 
 

What is DAC8? What is the Crypto-Asset Reporting Framework (CARF)?

The DAC8 Directive aims to strengthen the existing automatic exchange of information framework. Its scope is broad, and among the topics addressed are two key changes:
  • Introduction of the Crypto-Asset Reporting Framework (CARF), and
  • Amendments to the Common Reporting Standard (CRS).
CARF introduces mandatory due diligence and reporting obligations for a new category of reporting persons, such as exchange platforms and custodians (in addition to their existing CRS obligations).
CRS is amended to broaden its scope, capture new asset types, and introduce new reportable data.
 

Who is Affected?

For those who are impacted, the stakes are high. The go-live date is less than 6 months away, and the obligations are demanding. Key considerations are that:
  • Anyone who effectuates asset exchanges and uses blockchain technology (or planning to use it in future) needs to consider the impact of CARF,
  • Everyone already reporting under the CRS is impacted, and
  • Customers / account holders will be impacted too! These are complex topics, and the risks of non-compliance can be significant.
The message is clear: be prepared!
 

A Tailored Approach

As DAC8 is both recent and complex, "one size doesn’t fit all" explains Robert Battison. BDO leverages decades of tax regulatory experience and expertise, from across a global network, to offer tailored guidance, in-depth analyses, and targeted assessments relative to each company’s risks, strengths, and specific compliance needs.