New Zealand Enforces OECD Crypto Reporting in Latest Tax Bill

New Zealand Enforces OECD Crypto Reporting in Latest Tax Bill

Crypto service providers in New Zealand who fail to exercise “reasonable care” in adhering to new reporting requirements may face fines ranging from 20,000 to 100,000 New Zealand dollars ($12,000 to $62,000). This comes as part of a new legislative proposal aimed at integrating the crypto-reporting framework developed by the Organisation for Economic Co-operation and Development (OECD). On August 26, Simon Watts, New Zealand’s Minister of Rev...

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