DAC8
Also known as: EU DAC8, Directive on Administrative Cooperation 8
The EU's directive aligning with CARF to require automatic reporting and exchange of crypto-asset information among member states.
Definition
DAC8 is the eighth amendment to the EU Directive on Administrative Cooperation. It extends automatic information exchange to crypto assets, broadly aligned with the OECD CARF. It obliges crypto-asset service providers operating in the EU to report user transactions to tax authorities, which then share data across member states. For South Africans with EU exposure, DAC8 increases the chance that crypto activity becomes visible to multiple tax authorities.
Example
A South African using an EU-based exchange may have their data reported under DAC8 and exchanged among EU authorities, complementing CARF.
Jurisdiction notes
- South Africa: DAC8 is an EU measure; for South Africans it matters when using EU service providers, alongside CARF data exchange with SARS.