A recent public consultation has been released regarding UK’s reporting rules for digital platforms. The consultation sought opinions regarding proposed rules to put the Model Reporting Rules for Digital Platforms of the Organization for Economic Co-operation and Development (OECD) into effect.
The digital marketplaces will provide HMRC with information regarding their financial data, specifically the earnings of their sellers. Thus, to enforce the restrictions, a new set of sanctions was also suggested during the consultation.
Source: GVC
Latest Posts in "United Kingdom"
- UK May Cut VAT on Public EV Charging to Offset Pay-Per-Mile Scheme and Boost Adoption
- UK May Cut VAT on Public EV Charging to 5% to Match Home Rates and Boost Adoption
- UK Overhauls VAT Grouping Rules to Attract Global Investment and Reclaim Overpaid VAT
- Supreme Court Rules VAT on Share Sale Costs Not Recoverable Despite Fundraising Purpose
- PFI Expiry: Managing VAT and Partial Exemption Risks at Asset Handback for Local Authorities
