Chile joins the global exchange of information on crypto assets
#Chile adopts #OCDE 's #criptoactivos Reporting Framework (CARF) to strengthen tax transparency in response to the rise of cryptoassets.
In Chile, the Ministry of Finance, through a statement, reported on the approval, by the OECD Fiscal Affairs Committee, of the Information Reporting Framework. This new standard, called Crypto Asset Reporting Framework (CARF), arises in response to the growing digitalization of financial markets and the rise of crypto assets. The initiative aims to ensure that recent progress in global tax transparency is not gradually eroded.
Based on the Common Reporting Standard (CRS), the CARF seeks to facilitate its implementation by various jurisdictions and tax administrations. Widespread and timely implementation of the CARF will strengthen the capacity to ensure tax compliance and take effective measures against tax evasion, thereby contributing to the stability of public revenues and alleviating the tax burden on compliant taxpayers.
