10/03/2021 (Agence Europe) – On Wednesday 10 March the European Commission launched a public consultation to gather stakeholders’ views on a new revision (DAC 8) of the Directive on Administrative Cooperation in Tax Matters (DAC) to extend the automatic exchange of information to crypto-assets and electronic money. In its inception impact assessment (see EUROPE 12608/29) published in November 2020, the Commission explained that the lack of centralised control of crypto-assets, their pseudoanonymity, their hybrid characteristics as well as the rapid evolution of the technology underlying these assets are all challenges in terms of tax obligations. In addition to tackling these challenges, the forthcoming revision should also aim to address some of the inefficiencies of the current Directive, including the limited provisions on sanctions. The revision is expected in the 3rd quarter of 2021. Interested parties have until 2 June to send their comments via http://bit.ly/2N8sz0W (MF)