Online marketplaces will soon have a raft of reporting obligations to contend with as jurisdictions across the globe take their lead from developments in the EU and from recommendations put forward by the OECD.
The reporting obligations broadly relate to the exchange of information regarding transactional information; income received by sellers on online marketplaces, and additional identifying data on the sellers themselves.
One of the developments that have made most waves in this space is the EU’S DAC7 which is taking its lead from work performed by an Organisation for Economic Cooperation and Development (OECD) 2020 report titled ‘Model Rules for Reporting by Platform Operators with respect to Sellers in the Sharing and Gig Economy’.
Source Vertex
Latest Posts in "World"
- VAT Deduction: Historical Development and Legal Principles Shaping Modern Consumption Taxation
- Basware on YouTube – Compliance without the boring bits – Episode 5 (December 9)
- E-Invoicing choices you make now will show up in your S/4HANA Project later
- E–invoicing Developments Tracker
- ecosio Webinar – Getting Started with Peppol: What You Need to Know (Dec 4)
