Overview of the Directive on Administrative Cooperation (DAC8): Marking the end to Crypto-Asset Non-Taxation

- Χρηματοοικ. Ασφαλιστικά Τραπεζικά - Λογιστικά/ Έλεγχος/ Φορολογικά - Καινοτομία/ Start Ups - Πληροφορική - Επαγγελματίες IT

26 Ιουν 2024 09:00 26 Ιουν 2024 12:15
Αγγλικά
3 ώρες ( 1 ημέρα )
Overview of the Directive on Administrative Cooperation (DAC8): Marking the end to Crypto-Asset Non-Taxation

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

  • The evolution of Directives on Administrative Cooperation;

Understanding DAC8

1. Why Crypto-Assets are of Concern for National Tax Administrations

  • Divergencies in the treatment of crypto for tax purposes; the role of DAC8
  • Implications of anonymity in the context of crypto-assets taxation;

2. Review and Analysis of DAC8 main provisions

  • Overview of the key provisions and objectives
  • Exploring reporting thresholds and deadlines
  • Types of information subject to automatic exchange
  • Due Diligence
  • Penalties for non-compliance

How can CASPs and investors prepare for DAC8 compliance?

  • CASPs: Understanding requirements; preparing the organization.
  • Investors: Understanding the requirements and the challenges.

Contextualizing DAC8 within the broader regulatory landscape – DAC8, MiCA, and Travel of Funds Regulations

  • Understanding interconnectedness between MiCA Regulation, Travel of Funds Regulation, and DAC8
    • Exploring the synergies for comprehensive regulatory coverage; how regulations complement each other.


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.

Πληροφορίες Εκπαιδευτή
Marie Markosian - Hellenic Capital Market Commission (HCMC) Senior Officer

Marie Markosian is a Hellenic Capital Market Commission (HCMC) Senior Officer with 18 years of experience in conducting desktop/on-site investigations, supervising financial intermediaries, and managing a multitude of legal, regulatory, and compliance-related tasks. Marie has been active in policymaking since 2014 and has been following regulatory and policy developments in DLT/Blockchain, Digital/Crypto Assets, AI, and FinTech by participating in relevant ESMA Task Forces and the ESMA Financial Innovation Standing Committee (FISC) in her capacity as the HCMC National Delegate, as well as through the European Forum for Innovation Facilitators (the EFIF) in her capacity as the HCMC Innovation Hub lead. Seconded to a Member of the European Parliament since 2020, she has been connected to the ongoing legislative process (drafting and/or interinstitutional negotiations) of multiple pieces of Fintech and Digital Policy legislation, amongst which the DLT Pilot Regime Regulation, the Markets in Crypto Assets Regulation (MiCA), the Travel of Funds Regulation, and has been following Crypto Taxation (the DAC8) and Consumer Finance and Payments at the European Parliament, in her capacity as the MEP’s Financial Innovation and Digital Policy Advisor. 

Furthermore, she is experienced in assessing and translating regulatory risks and opportunities, analysing, drafting, and negotiating legislative proposals, bridging regulatory and public/private sector perspectives, and identifying digital business opportunities. Marie had been invited to join the inaugural meeting of the Global Coalition to Fight Financial Crime’s new Digital Assets Task Force (the DATF) hosted by the World Economic Forum in Geneva, Switzerland. The DATF committee aims to coordinate efforts between the global industry leaders leading the fight against financial crime in the digital assets industry and identify the key weaknesses and emerging threats in the current AML/CTF frameworks to help develop more effective controls against the movement of illicit financial flows. Marie is also a member of the Advisory Board of the Hellenic Blockchain Hub, has been active as a mentor at the Job-Pairs mentoring platform, and a judge at the NBG Be Finnovative hackathons and the VISA Innovation Program.

Αναλυτικό Κόστος Σεμιναρίου
  • € 150.00
  • € 0.00
  • € 28.50
  • € 150.00
ΠΡΟΓΡΑΜΜΑ ΣΕΜΙΝΑΡΙΟΥ

Τετάρτη - 26 Ιουν 2024

Ώρα

09:00 - 12:15

ΕΚΠΑΙΔΕΥΤΗΣ:

Marie Markosian

Τοποθεσία:

OnLine Virtual Classroom

Εκδήλωση Ενδιαφέροντος : Overview of the Directive on Administrative Cooperation (DAC8): Marking the end to Crypto-Asset Non-Taxation

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