They won't escape into cryptocurrencies. A new project aims to automate the exchange of tax information.

The exchange of tax information on transactions involving cryptoassets will be automated, according to the assumptions of the draft law of the Ministry of Finance published on Monday.

On Monday, the government's legislative agenda included the assumptions of the draft amendment to the Act on the exchange of tax information with other countries and certain other acts.

According to the information provided, the draft law will include provisions on the automatic exchange of tax information on transactions involving crypto-assets, provisions introducing changes to the automatic exchange of tax information on reportable accounts and, as explained by the Ministry of Finance, provisions amending "a number of other provisions in the field of administrative cooperation in the field of taxation".

Moreover, the proposed amendment is intended to automate the exchange of information for the purposes of equalisation taxation and to correct the current content of the provisions implementing DAC7 (a directive introducing the obligation for operators of online trading platforms to submit data to the National Tax Administration).

"To ensure automatic exchange of tax information, it is necessary, in particular, to impose on reporting crypto-asset service providers the obligation to report transactions concerning crypto-asset transactions carried out by crypto-asset users meeting certain criteria, as well as to build a mechanism for exchanging information about such transactions. To this end, it is planned to regulate in the Tax Information Act the obligations of reporting crypto-asset service providers, reporting procedures, due diligence procedures, principles of control of reporting crypto-asset service providers, obligations imposed on competent authorities regarding the exchange (transfer) of information, and principles of registration of crypto-asset operators," the assumptions state.

The bill is to be adopted by the government in the third quarter of 2025. (PAP)

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