- DAC7 aims to improve tax transparency and combat tax evasion by requiring platform operators to report specific seller and transaction data to EU tax authorities.
- Applies to platforms facilitating rentals, personal services, goods sales, and vehicle rentals.
- Medium-sized enterprises must collect and verify seller information, conduct due diligence, report annually, and comply with GDPR.
- Non-compliance can lead to fines, payment blocks, or suspension of platform activities.
- Challenges include administrative burden and compliance costs.
- Tips for compliance: automate processes, use national support resources, develop internal protocols, and consider national differences.
Source: accountancyvanmorgen.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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