DAC8 reports must be submitted in a standardized XML format based on the OECD CARF schema with EU-specific adaptations. This guide covers the technical requirements.
Schema Overview
The DAC8 XML schema defines:
- Message header structure
- Reporting entity information
- User (account holder) data
- Transaction information
Key Data Elements
Message Header
- Sending country code
- Receiving country code
- Message type (new, correction, etc.)
- Reporting period
Reporting Entity
- Name and identifiers
- Address details
- Registration number
User Information
- Individual: name, DOB, address, TIN
- Entity: name, address, TIN, type
- Controlling persons where applicable
Transactions
- Transaction type code
- Crypto-asset type
- Aggregate values
- Unit counts
File Structure
Reports are structured hierarchically:
- One file per reporting period per jurisdiction
- Multiple users per file
- Multiple transaction types per user
Validation Requirements
Before submission, validate:
- XML well-formedness
- Schema compliance
- Business rule validation
- TIN format validation
Validation Best Practice
Always validate XML files against the official schema before submission. Rejections for format errors delay compliance and may trigger penalties.
Submission Process
- Encrypt files per authority requirements
- Submit via designated portal or system
- Receive acknowledgment and validation results
- Address any errors and resubmit if needed
Conclusion
Mastering the XML reporting format is essential for DAC8 compliance. Invest in validation tools and testing before first submission.
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