JERSEYGOV November Consultation on Crypto-Asset Reporting Framework, amendments to CRS & AEOI
25/11/2024
On 21st November, JERSEYGOV has issued a consultation on three broad themes:
- Firstly, legislation should be introduced to implement the Organisation for Economic Co-operation and Development’s (OECD) new Crypto[1]Asset Reporting Framework (CARF) in Jersey.
- Secondly, the consultation discusses proposed amendments to the Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations necessary to implement the OECD amendments to the Common Reporting Standard (CRS) on the Automatic Exchange of Financial Account Information in Tax Matters.
- Finally, the consultation seeks views on proposals intended to improve the effectiveness and efficiency of the administration of automatic exchange of tax information (AEOI) in Jersey as a whole – encompassing the operation of the CRS, the Foreign Account Tax Compliance Act (FATCA) Intergovernmental Agreement and the new CARF. Collectively, the CRS, FATCA, and CARF are referred to as AEOI, and the regulations that implement each standard are the AEOI Regulations.
The consultation will run for 12 weeks, from 21 November 2024 to 13 February 2025
SOURCE
https://www.gov.je/SiteCollectionDocuments/Tax%20and%20your%20money/AEOI%20Consultation%20Paper.pdf
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