The Parliament of the European Union voted in favour of a non-binding resolution aimed at using blockchain for tax regulation purposes. The resolution recommends tax authorities in 27 EU member states to consider adopting “simplified tax treatment” for crypto users involved in occasional or small transactions and have national tax administrations use blockchain technology “to facilitate efficient tax collection”. The resolution also calls for common definitions of crypto assets and taxable events and urges the European Commission to consider the conversion of crypto to fiat as a taxable event. The resolution additionally seeks greater cooperation among national tax authorities in the exchange of information regarding the taxation of crypto and for blockchain solutions to be better integrated into tax programs.
Sources: https://cutt.ly/QBya9KZ
