DAC7: A new era in digital platform compliance

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From Uber to Etsy, Bolt to Walt, DAC7 requires platform operators in the EU to collect information from their reportable sellers. Whether renting out a house on Airbnb, to selling used clothes on eBay, DAC7 means this information has to be captured, understood and reported on.

Importantly, DAC7’s scope extends beyond EU-based platform operators. It also encompasses platform operators that are not tax residents within the EU, are not incorporated or managed in the EU, and lack a permanent establishment in the EU. These non-EU-based platform operators, referred to as “foreign platform operators” under DAC7, engage in commercial activities across one or more EU member states through cross-border electronic commerce. For example, a U.S. company offering a ride-sharing app in France, without having a permanent establishment or being registered in France, would fall under this category.

Download our free guide to DAC7. Understand the reporting obligations, the exceptions, what is reportable and how your organisation should manage its DAC7 compliance with Omnitrack.

Source link: https://vinciworks.com/blog/dac7-a-new-era-in-digital-platform-compliance/ by VinciWorks at vinciworks.com