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WebsCrypto—Markets—European Lawmakers to Start Discussions on Crypto Taxation in the Web3 Era on April 25
Markets

European Lawmakers to Start Discussions on Crypto Taxation in the Web3 Era on April 25

By WebsCryptoApril 22, 20221 Min Read
European Lawmakers to Start Discussions on Crypto Taxation in the Web3 Era on April 25
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European lawmakers will discuss on April 25 how to tighten tax laws and procedures in the Web3 era. A draft report prepared by Lídia Pereira, a Portuguese member of the European Parliament, suggests that national tax authorities have the power to exchange data on crypto assets held by individuals, which some see as unreasonable snooping.

In addition, lawmakers also believe that blockchain technology can help improve the tax system, and the blockchain public ledger could provide a new way to automate tax collection, allowing residents to pay what they owe without having to fill out numerous forms.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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