New Zealand's government has announced it will implement the Crypto-Asset Reporting Framework (CARF), a new global standard developed by the Organisation for Economic Co-operation and Development (OECD). The framework is designed to combat tax evasion by ensuring income and gains from crypto-assets are reported.
Inland Revenue (IR) will collect detailed information from domestic crypto-asset service providers. This data will then be automatically exchanged with tax authorities in other participating jurisdictions on an annual basis, starting from the 2027-28 income year. The initiative aims to bring tax transparency for crypto-assets in line with the existing Common Reporting Standard (CRS) for financial accounts.
The policy is part of a wider suite of measures, including adopting amendments to the existing CRS. Public consultation on the draft legislation is expected to begin in mid-2026. The government states the move will help ensure everyone pays their fair share of tax in an increasingly digital global economy.
