Switzerland Seeks Comments on Crypto Tax Information Standard

Switzerland is seeking feedback on its proposal to extend its automatic exchange of information standard to crypto assets by Jan 1. 2026.

The Swiss Federal Council started a consultation Wednesday to clarify some of its standard’s legal language, introduce penalties of up to 100,000 francs ($111,000) for negligence with disclosure requirements, and simplify information exchange with new countries using the same standard.

• Switzerland is among 48 other countries that agreed to implement the Organization for Economic Cooperation and Development’s global crypto-asset reporting framework by 2027.
• The OECD introduced the crypto-asset reporting framework in October 2022 to standardize how tax ...