The New Zealand tax service requested client lists from cryptocurrency firms

The new Zealand tax authority (IRD) sent letters to cryptocurrency firms in the Country requesting the provision of personal data of customers and information about their digital assets.

“The IRD is requesting this information to improve our understanding of the cryptocurrency industry in New Zealand so that we can help taxpayers meet their income tax obligations,” Radio New Zealand quoted the Agency as saying.

Of course, this request was not very pleasant to representatives of cryptocurrency companies operating in the country. So, according to the Executive Director of the company Easy Crypto Janine Grainger (Janine Grainger), she is disappointed, although not too surprised. In her opinion, the request to transfer personal data of clients is excessive.

“I think the IRD is just expanding the tax base, and crypto assets continue to gain popularity, especially in New Zealand. But privacy is a priority for us. After all, this is one of the main principles of cryptocurrency – privacy, freedom and independence. It’s not that customers have something to hide. We need to ensure a fair, open and free society,” Granger said.

Representatives of the tax Department noted that they only sent out requests, and so far they are collecting feedback from cryptocurrency firms. In addition, taxpayers can submit the necessary data to the IRD themselves. Recall that in February of this year, the New Zealand tax office reported on the possibility of reviewing the tax legislation in relation to digital assets.