On 10 March 2021, the EU Commission launched a public consultation aimed at strengthening the rules on administrative cooperation and expanding the exchange of information regarding e-money and cryptoassets. The findings from this public consultation, which is now closed, will feed a new update to the Directive on Administrative Cooperation (DAC). DAC8, as it’s known, will be much broader than current EU regulation and will provide the financial authorities with new options for taking action against tax fraud and tax evasion, with observers expecting it to be implemented within the next 12 to 18 months. Read more.
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