On 10 November 2023 the UK and other 47 countires committed to implementing the Crypto-Asset Reporting Framework (CARF) and the amendments to the CRS in a joint statement.
The CARF is the new international standard on automatic exchange of information between tax authorities to ensure tax compliance and clamp down on tax evasion.
The jusrisdicions included in the jount statement will be working to transposing the CARF into domestic law and activating exchange agreements in time for exchanges to commence by 2027, subject to national legislative procedures as applicable.
The statement also invites other jurisdictions to join the 48 signatories.
let's work together