Summary
From February 2026, new Sling Money users must provide tax information during onboarding. This requirement is based on European regulations (Directive on Administrative Cooperation 8, also known as DAC8). DAC8 is new European legislation that requires crypto service providers, including Sling Money, to report certain account and transaction information to tax authorities. The purpose is to create a standard across the European Union (EU) and improve transparency within the crypto sector. DAC8 does not introduce new taxes. It only ensures that tax authorities receive the information that users are already required to declare themselves.
Introduction
To use Sling Money as an EU resident, you are required to provide certain tax-related information when creating your account (for new Sling users) or when updating your existing account details (for current Sling users). This information is required by law and helps us report correctly to tax authorities.
What information do I need to provide in light of DAC8?
When you create a new Sling Money account (app or web), you’ll be asked to provide:
Place of birth – town and country.
Date of birth
Tax residency – the country where you are a tax resident. If you are a tax resident in more than one country, you’ll need to add all of them. Check with your local tax authority if you’re unsure of your status.
Tax identification number – the official number issued by the tax authority in your country of residence. This number is used to identify you for tax purposes. You can check what your tax identification number looks like and where to find it on the official European Commission website: Tax Identification Number (TIN) portal.
Self-declaration – a confirmation that the information you entered is correct.
IMPORTANT: Some of the information described above is already provided to Sling Money as part of our standard user identification and verification processes. From 2026 onward, this information will also be used to meet our obligations under DAC8.
When do I need to provide this information?
If you create a Sling Money account starting February 2026, you must provide your tax information during onboarding before you can start using the platform.
Existing users will be asked to provide any missing information later and must complete it by July 2026.
How is my information used?
Your information will be used to meet legal reporting obligations under DAC8. It will be shared with the relevant tax authorities as required by law. Sling Money applies the same high security standards to your tax information as to your identity verification data. Your information is securely stored, encrypted and only used to meet legal reporting requirements. DAC8 does not allow tax authorities to access or monitor your Sling account in real time. Your login details and non-financial personal information remain private.
What if I don't provide my tax information?
If the required information is not provided when requested, we will send reminders. If the information is still not provided within the specified timeframe, your account may be subject to restrictions, and you may be unable to continue using the service until the required information is submitted.