- Digital platform operators will need to comply with extensive new reporting requirements in the new year.
- Legislation to implement model rules developed by the OECD for digital platform operators takes effect on 1 January 2024, with the first reporting — and exchange of information by the Canada Revenue Agency with its partner jurisdictions’ tax administrations — occurring in early 2025 with respect to the 2024 calendar year.
- Digital platform operators subject to these rules should review their processes and systems to ensure they are able to comply with the reporting requirements.
Source EY
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