Guidance on VAT Reporting for Digital Platforms: HMRC Requirements and OECD Rules

• Measures introduced require certain UK digital platforms to report income information to HMRC
• HMRC exchanges information with other tax authorities for jurisdictions where sellers are tax resident
• OECD rules require digital platforms to provide information to taxpayers to help them comply with tax obligations
• HMRC issued new guidance on digital platform reporting
• Guidance covers details needed when selling goods or services on a digital platform
• Information on who is a seller, what must be provided, reporting by platforms, and selling online and paying tax
• Guidance on carrying out digital platform reporting, including what qualifies as a digital platform, who should register, and penalties
• Information on registering to carry out digital platform reporting, what needs to be reported, and carrying out due diligence
• Guidance on managing digital platform reporting, including submitting reports to HMRC, ongoing account management, and changing contact details

Source: marcusward.co

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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