Switzerland has postponed the implementation of rules for the automatic exchange of cryptocurrency account information with overseas tax authorities until 2027 and is still deciding which countries to share data with.
The Crypto Asset Reporting Framework (CARF) rules will still be enacted as planned on January 1, but will not be implemented for at least another year, the Swiss Federal Council and the State Secretariat for International Finance stated on Wednesday.
They added that the Swiss government's tax committee has "suspended the review of cooperation countries with which Switzerland intends to exchange data under CARF," which is the reason for the delay.
The Organization for Economic Cooperation and Development (OECD) approved CARF in 2022 as part of a global push for governments to share cryptocurrency account data, aimed at curbing tax evasion through cryptocurrency platforms.
The Swiss government's announcement also highlighted a series of amendments to local cryptocurrency tax reporting laws, along with transitional provisions "designed to make it easier" for domestic crypto companies to comply with CARF rules.
In June, the Swiss Federal Council advanced a bill to adopt CARF rules by January 2026, stating that the first exchange of cryptocurrency account data would occur in 2027, but it is now unclear when the information exchange is planned.
OECD documents show that 75 countries, including Switzerland, have signed on to implement CARF within the next 2 to 4 years.
At the same time, it specifically named Argentina, El Salvador, Vietnam, and India as countries that have not yet signed.
Earlier this month, Reuters reported that the Brazilian government is considering taxing international cryptocurrency transfers to align domestic rules with CARF standards.
Meanwhile, the U.S. White House has recently reviewed a proposal for the IRS to join CARF as part of a push for stricter capital gains tax reporting rules for U.S. taxpayers using foreign exchanges.
Related: CoinGecko: Decentralized exchange trading volume surges driven by the meme coin trading frenzy
Original: “Switzerland Delays Crypto Tax Information Sharing Until 2027”
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