Starting in 2028, the Philippines will automatically exchange information on crypto-asset transactions annually with foreign tax authorities, according to the Paris-based Organization for Economic Cooperation and Development (OECD).

According to OECD’s “Tax Transparency in Asia 2026: Asia Initiative Progress Report,” published on Tuesday, June 9, the Philippines has committed to implementing its first exchanges under the crypto-asset reporting framework (CARF) in 2028.

CARF provides for the automatic annual exchange of information on crypto-asset transactions in a standardized manner. It is designed to help tax authorities identify crypto users and address risks in the digital financial landscape.

Bureau of Internal Revenue (BIR) Commissioner Charlito Martin R. Mendoza, as quoted in the report, reaffirmed the Philippines’ commitment to the initiative, noting that the country has benefited from the support of its regional partners over the years.

“Our regional partnership is built on mutual trust and a collective vision for a more transparent financial landscape. Our collaboration has never been more needed, given the profound role our regional partners have played in the Philippines’ growth over the past five years,” Mendoza said.

“We embrace the work and challenges ahead. And we look forward to the implementation of the CARF by 2028,” the chief of the country’s main tax collection agency said.

Mendoza framed this commitment as a core component of his vision for a “tax administration that is modern, secure, and fully integrated into the global tax transparency landscape.”

He said the preparatory process would guide the BIR in further strengthening the country’s “information security management systems, ensuring that sensitive taxpayer data—both domestic and internationally exchanged—remains protected against evolving cyber threats.”

The move toward greater oversight of crypto-asset transactions follows a milestone in the country’s international tax infrastructure.

To recall, the Philippines joined the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) in May last year. Mendoza said this accession has “enhanced our ability to combat cross-border tax evasion and secure revenues critical to our sustainable development.”

The convention provides the Philippines with a legal framework for exchanging information with more than 150 jurisdictions to identify and combat cross-border tax evasion. MAAC is a comprehensive multilateral instrument designed to facilitate administrative cooperation among jurisdictions for tax purposes.

During the second-round peer review, the Philippines maintained an overall rating of “largely compliant.” However, for the availability of beneficial ownership information on legal entities, the country received a practical implementation rating of “partially compliant.”

The report noted that such challenges often stem from “insufficient supervision and enforcement of beneficial ownership requirements.”

To address these gaps, the BIR is ramping up capacity-building efforts for its personnel.

Robbie M. Banaga, a division chief at the agency, said participation in the advanced train the trainer (TtT) and women leaders in tax transparency (WLiTT) programs in 2025 helped enhance both technical skills and leadership capabilities.

These efforts aim to strengthen the country’s readiness for the implementation of CARF and ensure the Philippines remains aligned with global standards ahead of the 2028 rollout.