- DAC7 Overview:
- The new European directive, DAC7, mandates that digital platforms provide tax information about their users to tax authorities.
- Its objectives include promoting fairer taxation and combating tax avoidance and evasion.
- Implementation Timeline:
- Introduced on January 1, 2023, DAC7 harmonizes reporting obligations for digital platforms across EU Member States.
- Reporting focuses on users’ activities and revenues related to personal services, sale of goods, and rental of real estate and means of transport.
- Platform operators must report on sellers exceeding thirty transactions or €2000 per year.
- Reporting obligations apply from 2024 for activities in 2023, with exceptions for existing sellers until January 2025.
- ….
Source Taxlive
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