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The Dutch government is seeking public input on proposed regulations that would mandate crypto service providers, including exchanges, to collect and share user data with the national tax authority, aligning with broader European Union standards. This move aims to “create more transparency” and improve tax compliance within the crypto industry, according to an October 24 release by the Netherlands Ministry of Finance.
The proposed legislation would bring the Netherlands in line with the EU’s Directive on Administrative Cooperation (DAC8), which mandates that tax authorities across member states share information on crypto assets held by residents. Under the proposed rules, crypto platforms would only need to report in the EU country where they are registered, minimizing administrative burdens.
“This bill is a significant step forward in the taxation of cryptocurrencies,” said Folkert Idsinga, State Secretary for Tax Affairs and Tax Administration, emphasizing that these data exchanges will enable “greater transparency” for tax authorities, reducing tax avoidance and evasion across the EU.
The ministry clarified that these changes would not impact Dutch crypto holders, who are already required to report their crypto assets to the Belastingdienst, the Dutch tax authority. However, the law would facilitate the sharing of collected data with tax authorities of other EU countries, ensuring consistency in the financial sector.
The proposed legislation also aims to expand data sharing beyond the EU, encompassing non-EU countries that have adopted the OECD’s Crypto-Asset Reporting Framework (CARF). Countries such as the United States, the United Kingdom, Canada, Australia, and Singapore would gain access to the crypto data collected by Dutch providers, further enhancing global transparency.
Public feedback on the proposed regulations is open until November 21, with the government planning to submit the final draft to the House of Representatives by the second quarter of 2025.
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