DAC 7 Reporting

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evi23
Posts: 6
Joined: Fri Mar 01, 2024 5:03 pm

DAC 7 Reporting

Post by evi23 »

What are the main obligations for EU-based platform operators, and how do they differ for those based outside the EU? Also, are there any specific thresholds or criteria we need to be aware of? Any insights or experiences shared would be greatly appreciated! If anyone has helpful resources or links, please share them too.
Norman
Posts: 6
Joined: Thu Mar 07, 2024 10:57 am

Re: DAC 7 Reporting

Post by Norman »

Hey there, dac7 reporting is indeed crucial for platform operators, whether they operate within or outside the EU. Essentially, DAC 7 aims to ensure tax compliance in the digital economy, particularly focusing on platform operators facilitating transactions. For EU-based platform operators, the reporting obligations include collecting and reporting data on transactions facilitated through their platforms. This data includes details about the sellers, the type of goods or services sold, and the value of transactions. Non-EU platform operators also have reporting obligations if they facilitate transactions involving EU customers or EU-based sellers. However, the specifics may vary depending on agreements between the EU and the operator's jurisdiction. Thresholds and criteria for reporting typically revolve around transaction volume and revenue generated within the EU.
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