Important points
- Finland plans to adopt the OECD’s Crypto Asset Reporting Framework (CARF) in 2026 to increase tax transparency for digital assets.
- Finnish crypto exchanges and platforms will be required to collect and report users’ crypto transaction data to the Finnish tax authorities.
Finland will start implementing new domestic crypto reporting requirements by 2026, joining a global effort to standardize tax transparency for digital assets, Bloomberg Tax reported on Friday.
The Nordic EU member states have adopted the OECD’s Cryptoasset Reporting Framework (CARF), which aims to enable the automatic exchange of cryptoasset transaction data between tax authorities.
The implementation of CARF will require cryptocurrency exchanges and other digital asset platforms to collect and report user transaction data to the Finnish tax authorities. This data is shared internationally under automatic exchange agreements.
The UK is introducing CARF through secondary legislation from the beginning of 2026 to increase tax transparency. EU member states have integrated CARF into the Administrative Cooperation Directive, requiring cross-border reporting to be consistent with virtual currency market regulations.
Countries such as India and the United Arab Emirates have adopted the OECD framework to facilitate automatic crypto tax data exchange in the coming years, reflecting a global move towards standardization of crypto asset reporting.
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