Introduction of DAC7: New Reporting Obligations for Digital Platforms to Combat Tax Evasion

• DAC7 introduces new reporting obligations for digital platforms
• The purpose of DAC7 is to increase tax transparency and combat tax evasion
• Digital platforms must collect and report information on user-generated income
• The first reporting deadline is January 31, 2024, for income generated in 2023
• Sellers must be informed about the information shared with the Tax Authority by that date
• The samenloopvrijstelling (concurrent exemption) for transfer tax and VAT is being adjusted
• The transfer of shares may be subject to 4% transfer tax in certain cases
• An exception applies to share transfers agreed upon before September 19, 2023
• To qualify for the exception, a request must be submitted by March 31, 2024

Source: crop.nl

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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