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Crypto-assets and e-money

Tax fraud and evasion mean money lost, which could be used to pay for e.g. healthcare and education. Despite action taken in recent years, new alternative means of payment and investment threaten to undermine the progress made on tax transparency and pose substantial risks for tax evasion.

The European Commission will amend the Directive on Administrative Cooperation (‘DAC’) to ensure that EU rules stay in line with the evolving economy and include other areas such as crypto-assets and e-money (DAC8 proposal).

The rapidly growing economic importance of cryptocurrencies, such as Bitcoin, facilitates tax fraud & evasion. Despite this trend, still little is known on the impact on taxation. JRC sheds light on the taxation of capital gains from cryptocurrencies in the EU, relying on the scarce empirical evidence to provide a first approximation of the quantitative importance of capital gains from Bitcoin. In this way, the JRC contributes to the impact assessment of the DAC8 proposal.

Check-out related research

Cryptocurrencies: an Empirical View from a Tax Perspective (Forthcoming)


Andreas Thiemann