The Council of the European Union has issued Directive 2023/2226, known as DAC8, amending Directive 2011/16/EU on 17 October 2023. DAC8 relates to tax cooperation and seeks to extend the directive’s scope on mandatory automatic reporting obligations relating to crypto-asset transactions and cross-border tax rulings involving high-net-worth individuals. In light of such developments, this session will discuss the implications of DAC8 on crypto-assets and crypto-asset service providers by providing participants with practical insights into:
- the adoption of DAC8 at an EU level
- the recent developments at an OECD context in relation to the global crypto-asset reporting framework (CARF) and the relevant amendments to Common Reporting Standard (CRS);
- the interplay between Markets in Crypto-Assets Regulation (MiCA) and DAC8;
- the key provisions of DAC8 including, amongst others: obligations of reporting crypto-asset service providers, reporting requirements, due-diligence procedures; and
- what DAC8 effectively means for businesses and tax professionals.
Dr Ian Zahra is a lawyer by profession and forms part of the international tax team at Deloitte Malta as an Assistant Manager. Following the completion of his studies in law at the University of Malta, Ian graduated in international tax law from the University of Leiden in the Netherlands and worked as a teaching assistant at the International Tax Centre Leiden.
Jeremy Gatt has recently graduated with a Master in Accountancy from the University of Malta after having successfully submitted his thesis, entitled “The Practical Implications of Introducing Transfer Pricing Regulation on the International Tax Landscape in Malta”. Jeremy has been working at Deloitte within the International Tax Advisory team and has also been involved in Tax Compliance and Grants and Incentives team since 2021.