- Purpose and Scope: The Ministry of Finance’s resolution mandates digital platform operators to collect and report income information for sellers offering services like accommodation and transportation.
- Reporting Requirements: Operators must report seller information by January 31 annually, with quarterly payment reports and detailed annual data on real estate rentals by April 30.
- Data Collection: Specific seller data, including tax identification and property details, must be collected and submitted through the Financial Information Exchange System (SIIF).
- Compliance and Penalties: Sellers must adhere to operator rules, and operators failing to report may face fines based on their income. Exclusions from reporting can be requested under certain conditions.
- Implementation Timeline: The resolution’s provisions and due diligence procedures start on January 1, 2025, with the first report due by April 30, 2026.
Source KPMG
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