From Jan. 1, 2023, online platforms in the EU will be required to provide information about their sellers under Council Directive (EU) 2021/514, or DAC7. This gives tax authorities much better insight into sales via platforms. Not only platforms, but also underlying sellers must become aware of the increasing transparency of their activities and take steps where necessary to be compliant.
In this article, we discuss the value-added tax obligations for an online seller or a platform that facilitates sales and the new reporting requirements.
Source Bloombergtax
