On 4 April 2022, the ECON Committee put together its draft INI report on the impact of new technologies on taxation: crypto and blockchain. The following points and recommendations regarding the crypto industry were included:
- The Commission must promote an assessment of the different national policies regarding the combat against tax fraud and evasion in the field of crypto-assets;
- The Commission must evaluate the creation of a new platform for training and best-practice sharing between national tax authorities in the field of combat against tax fraud and evasion in the digital economy, notably the use of crypto-assets;
- The Commission must continue evaluating the operational impact and tax governance aspects of blockchain technology;
- Crypto assets must be subject to fair, transparent and effective taxation;
- The definition of the tax base for crypto-assets is a priority to guarantee a leading position for the EU at an international level, as there is currently no internationally agreed-upon standard definition;
- The Commission must consider the dimension of crypto-assets in the planned proposals for corporate taxation legal instruments, namely the Business in Europe: Framework for Income Taxation;
- Member States must consider the dimension of crypto-assets in their national tax reforms, and consider implementing more effective systems that ensure fewer compliance costs and administrative burdens.
In order to develop an effective regulatory/legal framework and a fully integrated European single market, a common approach on the taxation of crypto-assets is required. Thus, the Economic and Financial Affairs Council must initiate a structured dialogue with the Parliament on this matter. Moreover, it is fundamental to amend the scope of the Directive on Administrative Cooperation (DAC8) so that European legislators can further assess if other categories of income and assets such as crypto-assets are to be included.
