PHL to Implement Crypto-Asset Framework - BusinessWorld Online

Philippines to adopt OECD cryptocurrency tax framework

MANILA, Philippines — The Philippine government has committed to implement a globally agreed framework on taxing cryptocurrency assets to fight cross-border tax evasion and illicit financial flows, the Department of Finance (DOF) said. Finance Secretary Ralph Recto said on Tuesday this was a timely commitment considering the growing popularity of digital currency as means for […]...Keep on reading: Philippines to adopt OECD cryptocurrency tax fr…

PHL to implement crypto-asset framework - BusinessWorld Online

THE PHILIPPINES will implement a crypto-asset framework as part of its efforts to combat cross-border tax evasion and illicit financial flows, the Department of Finance (DoF) said. In a statement on Tuesday, the DoF said it is committed to adopting the Crypto-Asset Reporting Framework (CARF) by 2028. The framework sets the guidelines for the reporting and automatic exchange of information associated with crypto-assets. “We need faster and strong…