2021/2201(INI) | [ParlTrack]

Motion for a resolution
Recital B

B. whereas tax authorities today face many challenges nowadays regarding effective cross-border cooperation, given the acceleration of digital transactions, the increasing mobility of taxpayers, the number of cross-border transactions and the internationalisation of economic operations and business models;

Amendment 100 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Underlines the need to define, in a clear, stable and neutral way, the concept of crypto asset for tax purposes, having in regard that there are intrinsic differences between crypto-assets that require specific approaches; stands for the need to guarantee the systematic coherence between the several legal instruments that regulate or will regulate crypto assets (namely the Regulation on Markets in Crypto Assets, the Transfer of Funds Regulation, the Directive on Administrative Cooperation and other Anti-Money Laundering related initiatives, for example) and, most important, the legal certainty and stability required to attract, retain and promote investment in Europe;

Amendment 101 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Points out that with crypto assets, there may be different options to define a relevant taxable event such as the creation of coins via mining, the exchange of crypto assets into fiat currency or other crypto assets, the occasion of a hard fork or staking of crypto assets; notes that a coherent definition of a taxable event needs to be found in order to ensure a proper level of taxation, but avoid instances of double- taxation;

Amendment 102 #

Motion for a resolution
Paragraph 8 b (new)

8 b. Considers that the conversion of one type of crypto asset into a different kind of crypto asset should not count as a taxable event, as this would increase the number of taxable events considerably while creating significant valuation problems; considers therefore that the conversion of a crypto asset into fiat currency might be a more appropriate choice for a taxable event, if gains have been made;

Amendment 103 #

Motion for a resolution
Paragraph 8 c (new)

8 c. Notes that individuals do not necessarily only exchange crypto assets to achieve a financial gain; considers therefore, that generous de-minimis exemptions for personal use might be appropriate;

Amendment 104 #

Motion for a resolution
Paragraph 9

9. Notes that each country tends to use their own terminology when designing their national regulatory solutions to crypto-assets, which could cause legal uncertainty for citizens and companies, ~~at the same time emerge as~~be a threat to the integrity of the European single market, open the door to harmful tax competition in the EU and be exploited to undermine existing international tax transparency such as the Common Reporting Standard;

Amendment 105 #

Aurore LALUCQ, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 9

9. Notes that each country tends to use their own terminology when designing their national regulatory solutions to crypto-assets, which could cause legal uncertainty for citizens and companies, and at the same time emerge as a threat to the integrity of the European single market, as cross-border cooperation could be significantly impaired;

Amendment 106 #

Motion for a resolution
Paragraph 9

9. Notes that each country tends to use their own terminology when designing their national regulatory solutions to crypto-assets, which could cause legal uncertainty for citizens and companies, and at the same time ~~emerge as a threat to the integrity of~~in advertently create loopholes, providing opportunities for tax abuse and avoidance in the European single market;

Amendment 107 #

Motion for a resolution
Paragraph 9

9. Notes that each country tends to use their own terminology when designing their national regulatory solutions to crypto-assets, which ~~could cause legal uncertainty for citizens and companies, at the same time emerge as a threat to the integrity of the European single market~~is an expression of the exclusive competence of the Member States in the area of capital taxes;

Amendment 108 #

Motion for a resolution
Paragraph 10

10. Emphasises that the rapid growth of crypto-assets4 ~~refers to the key question of~~makes it urgent to have rules in place defining the type of taxation to be applied, when a taxable event happens, and its valuation; _________________ 4 The economic size of the cryptocurrencies market was valued at EUR 2.2 trillion in May 2021, with a peak of EUR 2.5 trillion in October 2021 (Joint Research Centre of the Commission, 2021).

Amendment 109 #

Motion for a resolution
Paragraph 10

10. Emphasises that the rapid growth of crypto-assets4 refers to the key question of the type of taxation to be applied, wthe~~n a taxable event happen~~ definition of the “taxable event", the timing when a taxable event occurs, and its valuation; _________________ 4 The economic size of the cryptocurrencies market was valued at EUR 2.2 trillion in May 2021, with a peak of EUR 2.5 trillion in October 2021 (Joint Research Centre of the Commission, 2021).

Amendment 11 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Recital B

B. whereas tax authorities face many challenges nowadays regarding effective tax collection and cross-border cooperation, given the acceleration of digital transactions, the increasing mobility of taxpayers, the number of cross-border transactions ~~and~~, the internationalisation of economic operations and business models and the design of complex aggressive tax planning schemes by an industry of enablers;

Amendment 110 #

Motion for a resolution
Paragraph 10

10. Emphasises that the rapid growth of crypto-assets4 refers to the key question of the type of taxation to be applied, when and where a taxable event happens, and its valuation; _________________ 4 The economic size of the cryptocurrencies market was valued at EUR 2.2 trillion in May 2021, with a peak of EUR 2.5 trillion in October 2021 (Joint Research Centre of the Commission, 2021).

Amendment 111 #

Motion for a resolution
Paragraph 11

11. Points out that the taxation of crypto-assets in cross-border situations is linked to several dimensions of tax policy such as income taxes or VAT and that such dimensions are distributed between national and European competences, but the benefit of a European approach is concentrated in instruments linked to administrative cooperation and corporate taxation;

Amendment 112 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 11

11. Points out that the taxation of crypto-assets in cross-border situations is linked to several dimensions of tax policy and that currently such dimensions are distributed between national and European competences, but that the benefit of a common European approach is concentrated in instruments linked to administrative cooperation and corporate taxation;

Amendment 113 #

Motion for a resolution
Paragraph 11

11. Points out that the taxation of crypto-assets in cross-border situations is linked to several dimensions of tax policy and that such dimensions are distributed between national and European competences, but the benefit of a European approach is concentrated in instruments linked to administrative cooperation and ~~corporate tax~~exchange of information;

Amendment 114 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission to consider the dimension of crypto-assets ~~in the planned proposals for corpor~~, digitalisation and new technologies in all its future legislative proposals in the tax field; calls on Member States t~~axation legal instruments, namely the Business in Europe: Framework for Income Taxation~~o ambition to lead at international level on this front;

Amendment 115 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 12 a (new)

12 a. Considers that it is necessary to have a clear, broadly accepted definition of crypto-assets for tax purposes ;underlines that this definition should be aligned with that of the MiCA regulation;

Amendment 116 #

Martin SCHIRDEWAN, José GUSMÃO

Motion for a resolution
Paragraph 13

13. Calls on the Member States to consider the dimension of crypto-assets in their national tax reforms, and to consider implementing more effective systems that ensure less compliance costs and administrative burden, but that guarantee, at the same time, the fair, transparent and effective taxation of crypto-assets; underlines the role of tax incentives and exemptions in promoting technological innovation and development;deleted

Amendment 117 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES

Motion for a resolution
Paragraph 13

13. Calls on the Member States to consider the ~~dimension~~specificities of the use of crypto-assets in their national tax reforms, and to consider implementing more effective systems that ensure less compliance costs and administrative burden, but that guarantee, at the same time, the fair, transparent and effective taxation of crypto-assets; ~~underlines the role of tax incentives and exemptions in promoting technological innovation and development;~~

Amendment 118 #

13. Calls on the Member States to consider the dimension of crypto-assets in their national tax reforms, and to consider implementing more effective systems that ~~ensure less compliance costs and administrative burden, but that guarantee, at the same time, the fair, transparent and effective taxation of crypto-assets; underlines the role of~~guarantee taxation of crypto-assets taking into account their additional negative externalities; warns against the creation of tax loopholes and the intensification of harmful tax competition by creating tax incentives and exemptions in ~~promoting~~the name of technological innovati~~on and development~~veness;

Amendment 119 #

Motion for a resolution
Paragraph 13

13. Calls on the Member States to consider the dimension of crypto-assets in their national tax reforms, and to consider implementing more effective systems that ensure less compliance costs and administrative burden, but that guarantee, at the same time, the fair, transparent and effective taxation of crypto-assets; underlines the role of tax incentives and exemptions in promoting technological innovation and development; highlights the key importance of common reporting standards for crypto-asset service providers as well as individuals and entities;

Amendment 12 #

Motion for a resolution
Recital B

B. whereas tax authorities face many challenges nowadays regarding effective tax enforcement and most in particular cross-border cooperation, given the acceleration of digital transactions, the increasing mobility of taxpayers, the number of cross-border transactions and the internationalisation of economic operations and business models;

Amendment 120 #

Motion for a resolution
Paragraph 13

13. Calls on the Member States to consider the dimension of crypto-assets in their national tax reforms, and to consider implementing more effective systems that ensure less compliance costs and administrative burden, but that guarantee, at the same time, the fair, transparent, non- burdensome and effective taxation of crypto-assets; underlines the role of tax incentives, reliefs and exemptions in promoting technological innovation and development, particularly of the blockchain technology sector;

Amendment 121 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 13 a (new)

13 a. Deplores, in this respect, that some Member States have opted to not treat exchanges in crypto assets as taxable income, as they do not fall within the definition of capital gains or of capital income for tax purposes; reminds that the estimated revenue potential for the EU on the taxing of realised Bitcoin capital gains in2020 alone could have amounted to EUR 800-900 million; highlights with concern that such regulatory treatment can be combined with specific non- habitual residence programs, incentivising asset holders to artificially seek residence status in order to avoid any taxation on those assets;

Amendment 122 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Calls on the Member States to engage in the debate on the role of tax exemptions on digital assets individual gains, as a way to benefit from the tax generated from professional crypto traders and firms operating within European jurisdictions;

Amendment 123 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Calls on Member States to treat different types of crypto assets in a manner that is consistent with the tax treatment of similar non-crypto assets in order to satisfy the principle of tax neutrality;

Amendment 124 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 13 b (new)

13 b. Calls on Member States to align the tax treatment of crypto-assets with other policy objectives, notably the European Green Deal; highlights that crypto-assets based on proof-of-work (PoW) blockchain are energy-intensive and cause enormous amounts of pollution and damage to the environment; calls, in this regard, for Member States to determine higher taxation on certain crypto-assets, such as those which are based on proof of work blockchain, above and beyond the taxation of other financial instruments;

Amendment 125 #

Motion for a resolution
Paragraph 13 b (new)

13 b. Calls on the Commission to confirm, after a careful technical assessment, whether crypto-assets and e- money services could be included in the rollback of the VAT exemption for financial services, in the context of the legislative proposal to be presented in 2023;

Amendment 126 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 14

14. Points out that the crypto-asset landscape is global and requires an coordinated international approach; understands, in this regard, the need to further negotiate international instruments on the matter;

Amendment 127 #

Motion for a resolution
Paragraph 14

14. Points out that the crypto-asset landscape is global and requires an international approach; understands, in this regard, the need to further align definitions related to crypto-assets such as “taxable event”, “tax object” or other, e.g. airdrops and mining treatments, and negotiate international instruments on the matter;

Amendment 128 #

Motion for a resolution
Paragraph 14

14. Points out that the ~~crypto-asset landscape is global and~~tax treatment of crypto-assets requires an international approach; understands, in this regard, the ~~need to fur~~work lead by the OECD and ther ne~~gotiate~~ ed to have a coordinate~~rnational instruments on the matter~~d approach with the revision of the Common Reporting Standard;

Amendment 129 #

Motion for a resolution
Paragraph 14

14. Points out that the crypto-asset landscape is global and requires an international approach; understands, in this regard, the need to further negotiate international instruments on the matter; considers that the Organisation for Economic Cooperation and Development (OECD), that has already done substantial work on both taxation and the treatment of crypto assets, could be a suitable forum in this regard;

Amendment 13 #

Martin SCHIRDEWAN, José GUSMÃO, Chris MACMANUS

Motion for a resolution
Recital C

C. whereas tax authorities need to ~~keep up with potential risks for the sustainability of tax systems and their ability~~be provided with the tools and means to enforce national and European legal frameworks regarding taxation;

Amendment 130 #

Motion for a resolution
Paragraph 14

14. Points out that the crypto-asset landscape is global and requires an international approach; understands, in this regard, the need to further negotiate international instruments on the matter; calls, in this regard for crypto-assets to be included within the scope of the Common Reporting Standard (CRS) developed by the OECD in 2014;

Amendment 131 #

Martin SCHIRDEWAN, José GUSMÃO

Motion for a resolution
Paragraph 14 a (new)

14 a. Is strongly concerned about the highly volatile and speculative nature of crypto-asset trading and the financial stability risks posed by crypto-asset markets; stresses that the Financial Stability Board warned that the “scale, structural vulnerabilities and increasing interconnectedness with the traditional financial system” may turn into a “threat to global financial stability”1a;calls on the Commission to present a proposal for the implementation of a Financial Transaction Tax on crypto-asset transactions within the Union to address financial stability risks; _________________ 1a Financial Stability Board, “Assessment of the Risks to Financial Stability from Crypto-Assets”, 16 February 2022, p. 1, https://www.fsb.org/2022/02/assessment- of-risks-to-financial-stability-from-crypto- assets/

Amendment 132 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Considers that the lack of an international agreement on taxation of crypto assets is an obstacle for an intelligent and future-driven approach by the European Union and its Member States; recalls that any legislative initiative must consider this absence of an internationally agreed approach and aim to promote the competitiveness of our companies, instead of creating barriers to investment, job creation and innovation in the financial sector;

Amendment 133 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 14 a (new)

14 a. Calls on the Commission to elaborate a comprehensive list of major taxable events and income forms associated with crypto-assets, the tax consequences of a number of key operations such as issuance of crypto- assets; exchange with crypto-assets, fiat currencies and for goods and services including valuation; disposal via gift or inheritance; loss or theft etc;

Amendment 134 #

Martin SCHIRDEWAN, José GUSMÃO, Chris MACMANUS

Motion for a resolution
Paragraph 14 a (new)

14 a. Notes that the OECD has already commenced work on a new Crypto-Asset Reporting Framework1a; _________________ 1a https://www.oecd.org/tax/exchange-of- tax-information/public-consultation- document-crypto-asset-reporting- framework-and-amendments-to-the- common-reporting-standard.pdf

Amendment 135 #

Motion for a resolution
Paragraph 14 b (new)

14 b. Is strongly concerned about the extreme levels of energy expenditure and pollution arising from the use of crypto- assets; warns that the network of the market leader Bitcoin “consumes about 0.36 percent of the world’s electricity - comparable to the consumption of Belgium or Chile”2a; calls on Member States to consider the implementation of a “green tax” on crypto-assets to mitigate the ecological impact; calls on the Commission to present a proposal for an EU-wide framework for a “green tax” on crypto-assets; _________________ 2a International Monetary Fund, “Global Financial Stability Report: COVID-19, Crypto, and Climate: Navigating Challenging Transitions”, Oct 2021, p. 53, https://www.imf.org/en/Publications/GFS R/Issues/2021/10/12/global-financial- stability-report-october-2021

Amendment 136 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 14 b (new)

14 b. Asks the Commission to assess how to fairly and effectively tax all crypto- assets users, whether they decide to use crypto-assets services providers or not;

Amendment 137 #

Martin HLAVÁČEK, Ondřej KOVAŘÍK, Gilles BOYER

Motion for a resolution
Paragraph 15

15. Recalls that a fully integrated European single market requires a common approach on the taxation of crypto-assets~~, respecting competences defined by the Treaties; therefore calls on the Council, in its Economic and Financial Affairs Council formation,~~; therefore calls on the Council to initiate a structured dialogue with Parliament on this matter; calls also on the President of the Eurogroup to put forward a debate on the taxation of crypto-assets with the Finance Ministers of the Euro Area;

Amendment 138 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 15 a (new)

15 a. Calls on the Commission to evaluate and determine to what extent crypto-assets fit within the existing tax framework, in order to promote clarity and certainty for taxpayers; takes the view that tax policy should be integrated within a sound regulatory framework for crypto- assets, and to be coherent with other policy aspects including tax transparency and legal, financial and consumer protection requirements;

Amendment 139 #

Motion for a resolution
Paragraph 16

16. Believes that it is necessary to amend the scope of the Directive on Administrative Cooperation5 (DAC8) so that European legislators can further assess if other categories of income and assets such as crypto-assets are to be included; calls on the OECD to adopt without any further delay a new definition of a reporting standards and exchange of information which should then be included in the revised DAC 8; thereafter encourages the Commission to present the DAC8 proposal without any delay; _________________ 5 Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation, OJ L 64, 11.3.2011, p. 1.

Amendment 14 #

Motion for a resolution
Recital D

D. whereas new technological solutions, such as blockchain, can be used by tax administrations to ~~better serve the needs of~~collect revenues more effectively, also from those more mobile taxpayers and lower the administrative burden for all tax payers, while such technologies can also be abused and serve as a vehicle for illicit activities, with the criminal intent to avoid paying taxes; whereas achieving policy objectives in a digitalising world and a more economically integrated internal market will require the harmonisation of technical infrastructure;

Amendment 140 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 16

16. Believes that it is necessary to amend the scope of the Directive on Administrative Cooperation5 (DAC8) so that European legislators can further assess if other categories of income and assets such as crypto-assets are to be included; _________________ 5 Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation, OJ L 64, 11.3.2011, p. 1.the exchange of information framework in the field of taxation can include crypto-assets and e-money;

Amendment 141 #

Motion for a resolution
Paragraph 16

16. Believes that it is necessary to amend the scope of the Directive on Administrative Cooperation5 (DAC8) sto ~~that European legislators can further assess if other categories of income and assets such as crypto-assets are to be included~~reflect the future OECD recommendations and revisions of the Common Reporting Standards; calls on the Commission to put forward a legislative proposal as soon as the OECD has finalised its work; calls on the Commission to include in its future revision of DAC the adopted recommendations in the European Parliament’s DAC implementation report; calls on the Council to swiftly adopt these proposed changes; _________________ 5 Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation, OJ L 64, 11.3.2011, p. 1.

Amendment 142 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 16 a (new)

16 a. Asks the Commission to reevaluate whether the tax treatment of crypto-assets compared to the tax treatment of other assets is consistent and fair, especially regarding the VAT treatment of those assets, in order to enhance the level playing field between crypto-assets and traditional assets. While exchanges are often exempt or outside the scope of VAT, the treatment of mining, forging or other types of services, should be reviewed against the broader VAT framework for payment instruments and future VAT reforms;

Amendment 143 #

Motion for a resolution
Paragraph 16 a (new)

16 a. Calls on the Commission to consider the outcome of the OECD public consultation on "Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard" in the context of DAC8 revision, that must be considered a priority on tax matters;

Amendment 144 #

Motion for a resolution
Paragraph 16 b (new)

16 b. Stresses the importance of guaranteeing that a future revision of the Directive on Administrative Cooperation (DAC8) will complement reporting obligations under other legal instruments, by helping authorities to automatically exchange data about crypto-assets and e- money, so they can assess income and revenue from investments and payments using crypto assets and e-money. Underlines the need to safeguard a systematic coherence that provides legal certainty to operators and technical guidance to national tax authorities;

Amendment 145 #

Motion for a resolution
Paragraph 17

17. Calls on the Commission and national public authorities to ensure that blockchain technology ~~develops in~~used to enforce rules or provide public services compli~~anc~~es with the rules on the processing of personal data, on cybersecurity and on anti-money laundering/combating the financing of terrorism;

Amendment 146 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 17

17. Calls on the Commission and national public authorities to ensure that the use of blockchain technology can be further developsed in full compliance with ~~the rules on the processing of personal data, on~~fundamental rights, cybersecurity and on anti-money laundering/combatting the financing of terrorism standards;

Amendment 147 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 18

18. Encourages the Commission to take account of existing digital solutions, legal provisions and administrative guidance used in Member States in order to assess how to leverage blockchain and other distributed ledger technologies and to prevent tax fraud and avoidance; supports the development of a European blockchain services infrastructure;

Amendment 148 #

Motion for a resolution
Paragraph 18

18. Encourages the Commission to take account of existing digital solutions, legal provisions and administrative guidance used in Member States in order to assess how to leverage blockchain technologies in addressing corruption and to prevent tax fraud and avoidance; supports the development of a European blockchain services infrastructure;

Amendment 149 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 18 a (new)

18 a. Asks the Commission to evaluate how to support improved tax compliance, taking into account the high volatility and fast moving values of crypto-assets, the lack of obvious translation into fiat currency in some cases, but also the challenge for tax administrations to obtain reliable and timely information on these transactions;

Amendment 15 #

Motion for a resolution
Recital D

D. whereas new technological solutions, such as blockchain, can be used by tax administrations to better serve the needs of tax payers while such technologies can also be abused and serve as a vehicle for illicit activities, with the criminal intent to avoid paying taxes; whereas in particular the increased visibility of blockchain transactions might facilitate tax administrations efforts to combat tax fraud;

Amendment 150 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 18 b (new)

18 b. Considers that, insofar as the universe of cryptos is currently in full expansion and is not expected to stabilise in the near future, the necessary assessment of the situation should not prevent the European institutions from legislating on better supervision and better taxation of crypto-assets;

Amendment 151 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 18 c (new)

18 c. Points out the need for frequent reviewing and adapting of tax policy in order to be able to respond to the evolutions of the sector and to ensure that it remains relevant in the face of technological and market developments related to virtual currencies and other emerging asset-types;

Amendment 16 #

Aurore LALUCQ, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Recital D

D. whereas new technological solutions, such as blockchain, can be used by tax administrations to better serve the needs of tax payers; wh~~ile~~ereas such technologies can ~~also be abused and serve as a vehicle for illicit activities, with the criminal intent to avoid paying taxes~~be particularly useful for exchanging information between jurisdictions and for various types of record-keeping, but whereas such technologies, like any new technology, can also be abused;

Amendment 17 #

Motion for a resolution
Recital D

D. whereas new technological solutions, such as blockchain, can be used by tax administrations to better serve the needs of tax payers while such technologies can also be abused and serve as a vehicle for illicit activities~~, with the criminal intent to avoid paying taxes~~;

Amendment 18 #

Motion for a resolution
Recital D a (new)

D a. whereas new technological solutions, such as blockchain, can be deployed by Member States in order to deter and/or address corruption of tax administrations;

Amendment 19 #

Motion for a resolution
Recital D b (new)

D b. whereas the use of new technologies still varies considerably between Member States;

Amendment 2 #

Motion for a resolution
Citation 4 a (new)

— having regard to the OECD's public consultation document "Crypto- Asset Reporting Framework and Amendments to the Common Reporting Standard"1a; _________________ 1a https://www.oecd.org/tax/exchange-of- tax-information/public-consultation- document-crypto-asset-reporting- framework-and-amendments-to-the- common-reporting-standard.pdf

Amendment 20 #

Motion for a resolution
Recital D c (new)

D c. whereas national tax administrations, in general, demand more incentives and awareness-raising measures to realise the potential in the field of technological and digital transformation;

Amendment 21 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Recital E

E. whereas tax administrations across Europe, ~~within different~~although to varying degrees, are taking important steps towards the digitalisation of processes, making tax compliance easier, faster and more effective; whereas the use of new technologies is significantly different between Member States; whereas national tax administrations, in general, need a further push to realise the potential in the field of technological and digital transformation;

Amendment 22 #

Motion for a resolution
Recital E

E. whereas tax administrations across Europe, within different degrees, are taking important steps towards the digitalisation of processes, making tax compliance easier, faster and more effective; whereas the use of new technologies is significantly different between Member States; whereas national tax administrations, in general, need a further push to realise their full potential in the field of technological and digital transformation; whereas technology can help facilitating cooperation between the different government bodies: customs, tax, social security, financial intelligence units, ministry of justice, and ministry of finance achieving a whole of government approach;

Amendment 23 #

Motion for a resolution
Recital E

E. whereas several tax administrations across Europe, within different degrees, are already taking important steps towards the digitalisation of processes, making tax compliance easier, faster and more effective; whereas the use of new technologies ~~is significantly different~~still varies considerably between Member States; whereas national tax administrations, in general, ~~need a further push~~demand more incentives and awareness-raising measures to realise the potential in the field of technological and digital transformation;

Amendment 24 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Recital F

F. whereas the increasing use of crypto-assets is forcing tax administrations to adapt current taxing practices within the single market; whereas the crypto-asset market makes the identification of tax- relevant activities very difficult because it relies less on traditional financial intermediaries, who typically provide information for tax purposes;

Amendment 25 #

Motion for a resolution
Recital F

F. whereas the increasing use of crypto-assets ~~is forcing tax administrations to adapt current taxing p~~pose a significant risk to recent gains in global tax transparency as crypto-asset activity has reduced tax administrations’ visibility on tax- relevant activities and therefore calls for tax administracti~~ces within the single market~~ons to engage in cross-border collaboration and coordination;

Amendment 26 #

Motion for a resolution
Recital F

F. whereas the increasing use of crypto-assets is forcing ~~tax administrations to adapt current tax~~Member States to create custom national tax regimes to allow national tax administrations to tax crypto-asset transactions and/or holdings, pr~~actices within~~oviding for additional tax revenues, albeit fragmenting the tax landscape of the single market;

Amendment 27 #

Motion for a resolution
Recital F a (new)

F a. whereas the OECD Common Reporting Standard (CRS) has improved international tax transparency by requiring jurisdictions to obtain information on offshore assets held with financial institutions and automatically exchange that information with the jurisdictions of residence of taxpayers on an annual basis, however, crypto-assets will in most instances not fall within the scope of the CRS, which applies to traditional financial assets and fiat currencies;

Amendment 28 #

Martin HLAVÁČEK, Ondřej KOVAŘÍK, Gilles BOYER

Motion for a resolution
Recital F a (new)

F a. whereas 5 out 27 Member States have specific legal provisions on the taxation of crypto assets; whereas 19 out of 27 Member States have administrative guidance on the taxation of crypto assets;

Amendment 29 #

Aurore LALUCQ, Paul TANG, Evelyn REGNER, Joachim SCHUSTER, Pedro MARQUES, Jonás FERNÁNDEZ

Motion for a resolution
Recital G

G. whereas there is an international effort and commitment to better regulate the fair taxation of the digital economy; whereas crypto-assets could be exploited to undermine existing international tax transparency initiatives, as recognised by the OECD; whereas, in this context, it is crucial that the EU take a leading role, namely on strong cooperation between Member States to tax, crypto-assets in a fair and transparent way~~, crypto-assets~~;

Amendment 3 #

— having regard to the OECD draft new tax transparency framework for crypto-assets (CARF) and amendments to the Common Reporting Standard 1a which were submitted to public consultation, _________________ 1a https://www.oecd.org/tax/exchange-of- tax-information/public-consultation- document-crypto-asset-reporting- framework-and-amendments-to-the- common-reporting-standard.pdf

Amendment 30 #

Motion for a resolution
Recital G

G. whereas ~~there is~~equivalent to other tangible and int~~ernational effort and commitment to better regulate the fair~~angible assets, crypto- assets need to be subject to taxation ofin the ~~digital economy; whereas, in this context, it is crucial that the EU take a leading role, namely on strong cooperation between Member States to tax, in a fair and transparent way, crypto-assets~~EU, tax competition leading inevitably to a race to the bottom between Member States should be avoided and curtailed;

Amendment 31 #

Motion for a resolution
Recital G

G. whereas there is an international effort and commitment to better regulate the fair taxation of the digital economy; whereas, in this context, it is crucial ~~that~~for the EU to take a leading role, ~~namely on strong~~in particular through close cooperation between Member States ~~to tax, in a fair~~on the fair, accountable and transparent ~~way,~~ taxation of crypto-assets;

Amendment 32 #

Motion for a resolution
Recital G a (new)

G a. whereas there is no international instrument regarding the taxation of crypto assets and that there is a wide spectrum of approaches to this matter, by different countries; whereas the limits to the possession or transaction of crypto assets are common in autocratic countries; whereas the European Union must lead the way to more financial freedom for citizens, both within and outside its borders, in the relevant international platforms;

Amendment 33 #

Motion for a resolution
Recital G a (new)

G a. whereas it is estimated that the revenue potential for the EU of taxing realized Bitcoin capital gains in 2020 could amount to approximately EUR 800million to EUR 900 million;

Amendment 34 #

Motion for a resolution
Recital G b (new)

G b. whereas the OECD identifies, in its 2020 report on the taxation of virtual currencies, a number of material points to address, namely the definition of taxable event, the forms of income that are associated with virtual currencies, how taxation can be adjusted to the nature and dynamics of crypto-assets in order to capture profits in a fair and efficient manner, among other aspects;

Amendment 35 #

Motion for a resolution
Recital G c (new)

G c. whereas global economy is becoming increasingly decentralised and digitalised and the principles underpinning the current international tax framework are progressively being outdated, and can no longer ensure that profits are taxed where economic activities generating the profits are performed and where value is created;

Amendment 36 #

Motion for a resolution
Recital G d (new)

G d. whereas crypto assets can be used, among other specific purposes, to be used as an investment product, to be used as a payment method or to be managed as a professional activity; whereas the tax consequences of different uses have to be adapted for the specific reality of each taxable event;

Amendment 37 #

Aurore LALUCQ, Evelyn REGNER, Pedro MARQUES, Paul TANG

Motion for a resolution
Recital H

H. whereas the Union has already taken important steps towards a clear definition of crypto-assets and this definition must facilitate the fair and simple taxation of these assets; ~~and whereas definitions of such crypto-assets must be highly aligned with international standards, namely with the Financial Action Task Force;~~

Amendment 38 #

Motion for a resolution
Recital H

H. whereas the Union has already taken important steps towards a clear definition of crypto-assets and ~~this definition must~~crypto asset service providers and, more broadly, towards establishing a suitable regulatory framework for crypto assets, the Markets in Crypto Assets regulation; whereas this framework and this definition will facilitate the fair and simple taxation of these assets; and whereas definitions of such crypto-assets must be highly aligned with international standards, namely with the Financial Action Task Force;

Amendment 39 #

Martin SCHIRDEWAN, José GUSMÃO, Chris MACMANUS

Motion for a resolution
Recital H

H. whereas the Union has already taken important steps towards a clear definition of certain crypto-assets and thisese definitions must facilitate the fair and simple taxation of these assets; and whereas definitions of such crypto-assets must be highly aligned with international standards, namely withose set by the Financial Action Task Fforce;

Amendment 4 #

Motion for a resolution
Citation 10 a (new)

— having regard to the speech of Mr. Fabio Panetta Member of the Executive Board of the ECB, at Columbia University. New York, 25 April 2022, “For a few cryptos more: the Wild West of crypto finance”,

Amendment 40 #

Motion for a resolution
Recital H

H. whereas the Union has already taken important steps towards a clear definition of crypto-assets and this definition must facilitate the fair and simple taxation of these assets; and whereas definitions of such crypto-assets must be ~~highly~~ aligned with international standards, namely withe OECD and the Financial Action Task Force;

Amendment 41 #

Motion for a resolution
Recital H

H. whereas the Union has already taken important steps towards a clear definition of crypto-assets and this definition must facilitate the fair and simple taxation of these assets; ~~and~~ whereas definitions of such crypto-assets must be highly aligned with international standards, namely with the Financial Action Task Force and standards developed at OECD level; and whereas such a definition developed at EU level should, however, only serve as a guidance for Member States;

Amendment 42 #

Motion for a resolution
Recital H a (new)

H a. whereas not only definitions of crypto-assets need to be uniform across EU and aligned with international standards, but also the tax treatment of the defined crypto-assets should be uniform across EU; and whereas,the same crypto-asset may have diverse categorization as “tax object” across EU, resulting to different tax treatment; e.g. form of property for income tax purposes, most commonly as an intangible asset other than goodwill, or as a financial asset or as a commodity;

Amendment 43 #