Dutch Tax Authority Seeks Public Opinion on New Crypto Bill

The Dutch tax authority has begun soliciting public feedback on a draft bill that would mandate crypto firms to collect and report user transaction data to the tax agency.

In a translated statement released on Thursday, the Ministry of Finance of the Netherlands stated that the proposed bill aims to enhance transparency regarding crypto ownership, adding that the measures "will not change anything for crypto holders, as they are already required to report their crypto balances."

As part of the Eighth Directive on Administrative Cooperation (DAC8), EU member states must implement rules compelling crypto firms to report customer holdings data, which will be shared among EU tax authorities. The member states have until Dec. 31, 2025, to enact these rules, which will take effect on Jan. 1, 2026.

Public consultation in the Netherlands on the draft bill began on Oct. 24 and will run until Nov. 21. Authorities plan to submit the draft to the House of Representatives in the second quarter of 2025, according to the statement.

State Secretary for Tax Affairs Folkert Idsinga remarked that this bill represents a significant step in taxing cryptocurrencies and will allow EU member states to collaborate more effectively, making crypto transactions more transparent for tax authorities.

“This will combat tax evasion and avoidance, ensuring that European governments no longer miss out on tax revenue,” Idsinga added.

The Dutch finance ministry also acknowledges the rising crypto trading sector, stating, “Cryptocurrencies, like bank deposits and other investments, are a form of wealth on which taxes must be paid.” The ministry noted that EU tax authorities currently lack adequate oversight in this area, leading to an uneven playing field in the financial sector.

In related news, Denmark’s tax law council recently recommended taxing unrealized crypto gains, suggesting a tax rate of 42%. The Danish government plans to present legislation next year requiring crypto service providers to report their clients' crypto transaction data.