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DAC7: Automatic Exchange Of Information For Digital Platforms Soon To Apply In Luxembourg

Luxembourg’s DAC7 bill implements new rules for mandatory automatic exchange of information reported by platform operators. This complements and extends existing domestic rules on tax transparency and exchanges of information, as well as provisions of DAC6. The bill requires platform operators to register in Luxembourg, collect information on income earned by sellers, and report it to the tax authorities. The first declaration must be filed before January 31, 2024, for transactions in 2023. Platform operators must comply with the Bill requirements for the first reporting due in 2024.

Source Bonn Schmitt

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