Argentina commits to OECD crypto tax reporting framework by 2029

Argentina has committed to implementing the OECD’s Crypto-Asset Reporting Framework and starting the automatic exchange of information on crypto transactions by September 2029, bringing the country into a system now backed by 77 jurisdictions. Summary Argentina has committed to implementing CARF and starting automatic exchanges of crypto transaction data by September 2029. The country joins 77 jurisdictions that have committed to the OECD framework for cross border crypto tax information sharing. Crypto exchanges and other covered providers will collect customer identification and transaction data for reporting under the framework. CARF does not create a new crypto tax by itself, while Argentina must still incorporate the standard into domestic law before exchanges begin. The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes said on Sept. 14 that Argentina had formally committed to CARF, a framework developed with G20 countries to extend cross-border tax information exchanges to crypto assets. The commitment sets a deadline for Argentina to begin exchanging information with other participating jurisdictions. It does not immediately create a new crypto...