A recent public consultation has been released regarding UK’s reporting rules for digital platforms. The consultation sought opinions regarding proposed rules to put the Model Reporting Rules for Digital Platforms of the Organization for Economic Co-operation and Development (OECD) into effect.
The digital marketplaces will provide HMRC with information regarding their financial data, specifically the earnings of their sellers. Thus, to enforce the restrictions, a new set of sanctions was also suggested during the consultation.
Source: GVC
Latest Posts in "United Kingdom"
- VAT Exemption for Temporary Medical Staff: HMRC Confirms Locum Doctors Qualify After Tribunal Decision
- Tribunal Rules 5% VAT Can Apply to Public EV Charging Under De Minimis Domestic Supply Limit
- Upper Tribunal Confirms VAT Due on Lycamobile Prepaid Bundles at Point of Sale, Dismissing Appeal
- Tribunal Rules Pre‑Registration VAT Recovery Based Only on Post‑Registration Use, Not Historic Use
- Recent HMRC Updates: VAT Export Rules, Reverse Charge for EV Charging, and New Customs Handbooks
