The Australian government is asking for public input on how to implement the Organization for Economic Cooperation and Development’s (OECD) Crypto Asset Reporting Framework (CARF). This framework is aimed at tackling tax evasion related to cryptocurrency. The consultation paper, which was released on November 21, is seeking feedback on the best way to implement this new reporting model in Australia.
The goal is to make it harder for people to hide their cryptocurrency investments and avoid taxes. This is an important step in ensuring that everyone pays their fair share of taxes and that the government can collect the revenue it needs to provide services for its citizens.
