New Zealand will implement the OECD's crypto reporting framework by April 2026 to ensure tax compliance and prevent tax evasion in the crypto sector.
The OECD, which developed the framework in 2022, aims to enhance the ease of exchanging tax information on crypto transactions to combat international tax evasion.
Under the new regulations, crypto-asset service providers in New Zealand must start collecting user transaction information by April 1, 2026, ensuring proper reporting to tax authorities.
Minister of Revenue Simon Watts outlined the framework's implementation in the Taxation Bill, emphasizing its importance for transparency and compliance in crypto transactions.
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