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flag New Zealand launches global crypto tax enforcement in 2026, requiring exchanges to report transactions to close tax loopholes.

flag A global crypto tax crackdown via the Crypto-Asset Reporting Framework (CARF) begins in New Zealand on April 1, 2026, requiring local and foreign exchanges to report detailed transaction data to the Inland Revenue Department. flag The move aims to close a major tax loophole, as 80% of New Zealanders’ crypto trades currently occur on offshore platforms. flag Between June 2024 and June 2025, 188,000 individuals traded NZ$7.2 billion in crypto domestically, with a small fraction driving most activity. flag CARF will mandate reporting of trades, swaps, and large transfers, including personal details, with data shared automatically with OECD tax authorities. flag Cryptocurrency is treated as property, making capital gains taxable and losses deductible. flag Non-compliance may lead to penalties up to 150% of unpaid tax, interest, or criminal charges. flag The IRD estimates CARF could generate about $50 million in annual tax revenue.

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