ΠΕΡΙΓΡΑΦΗ

The 8th iteration of the Directive on Administrative Cooperation (DAC8) seeks to enhance the capacity of tax authorities in EU Member States to detect and counter tax fraud, tax evasion and tax avoidance derived from both domestic and cross-border transactions (transfer or exchange) involving crypto-assets. It does so through a process of reporting and automatic exchange of information specifically pertaining to revenues derived from transactions falling within the defined scope, as well as information on advance cross-border tax rulings for individuals residing in the EU. 

DAC8 encompasses a broader range of cryptoassets, including those addressed by MiCA. In fact, DAC8 complements MiCA and Travel of Funds Regulations creating a legislative framework designed to instil transparency and resilience in the crypto-asset ecosystem. 

The Directive is to apply from 1 January 2026. However, two exceptions are provided therein; the provisions on the identification service apply from January 2025, while the provisions on the verification on the tax identification number will only apply from January 2027.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants will:

• Have an overview of the Directives on Administrative Cooperation so far and understand why DAC8 was needed
• Have an overview of the DAC8 and be able to review and analyse it
• Have a thorough understanding of DAC8’s main provisions, such as the information to be automatically exchanged, the due diligence procedures
• Understand why crypto-assets are of particular concern for national tax administrations and the implications of anonymity in implementing crypto-assets policies
• Understand the challenges present in crypto tax design schemes and have an overview of the different        tax treatment of crypto-asset transactions in different jurisdictions
• Understand the links between DAC8, MiCA and Travel of Funds Regulations.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

• Compliance officers
• EU Lawyers
• Third-country lawyers
• Internal lawyers (working in any legal department of an organization or government)
• Blockchain technologists and developers
• Professionals in the banking sector (Including neo and challenger banks)
• Financial Advisors
• Executives and senior managers
• Software Developers
• Legal Services Professionals
• Legal Projects Managers
• Legal Analysts
• Government Agencies
• Corporate Administrators
• Strategy Managers
• Technology Strategy Leaders
• Digital Transformation Heads, Officers and Team Members
• Innovation Leaders and members of Innovations labs

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline 

Introduction to Directives on Administrative Cooperation (DAC) and the Need for DAC8

Opening Remarks

• Brief overview of the importance of taxation in the context of cryptoassets

 The evolution of Directives on Administrative Cooperation: from MiCA to DAC8

• How the enactment of MiCA in May 2023 set the stage for an EU approach to comprehensive set of crypto regulations

 Why DAC8 was Needed

• The distinctive purpose of DAC8: to regulate the flow of information of crypto transactions to tax authorities; not the taxation of crypto
• The OECD international framework of automatic exchange of information “Crypto-asset Reporting Framework (CARF) and the EU “DAC8”

 Understanding DAC8

Introduction to DAC8

• Overview of the key provisions and objectives
• Contextualizing DAC8 within the broader regulatory landscape

 Review and Analysis of DAC8 main provisions

• Examination of DAC8 text and structure
• Exploring the types of information subject to automatic exchange
• Due Diligence Procedures
• Analysing the implications for crypto asset service providers and individuals

 The drive for Crypto Tax Regulation in EU and beyond

Why Crypto-Assets are of Concern for National Tax Administrations

• Divergencies in the treatment of crypto for tax purposes: understanding the unique challenges
• Implications of anonymity in the context of crypto-assets taxation

 Challenges in Crypto Tax Design Schemes

 High level review of the different treatment of crypto for tax purposes

 Interconnections – DAC8, MiCA, and Travel of Funds Regulations

Overview of MiCA (Markets in Crypto-Assets)

• Understanding the relationship between MiCA and DAC8
• Exploring the synergies for comprehensive regulatory coverage

 Travel of Funds Regulations and its Links to DAC8

• Analysing how Travel of Funds regulations complements DAC8

Training Style 

The programme is designed to deliver high-level knowledge and insights into the DAC8 and crypto taxation issues. It will strive to enhance participants’ skills and knowledge via lectures supported by power-point presentations and practical examples. The training style is both training-focused, involving a combination of presentation and real-live examples, but also learner-focused, where participants are encouraged to interact, share their different perspectives and engage in an exchange of views and personal professional experiences.

 CPD Recognition

 For the CySEC requirements, CPD units attained from this course should not exceed the 50% of the total CPD Units of each individual.