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Mastering the complex Data Sharing process is essential to maintain compliance with DAC7, but keeping track of the constant changes is time consuming and complicated.
Fortunately, the experts at Fonoa are staying ahead of quickly evolving transparency laws so you can securely share tax data across multiple countries.
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The Essential Guide to DAC7
DAC7 is the 7th amendment to the EU’s Directive on Administrative Cooperation in the field of taxation. Beginning on January 1, 2023, Digital Platforms operating in the EU are required to share selected financial and personal information about their Platform Sellers with tax authorities on a yearly basis.
Online platforms now must collect and verify the identification information of EU sellers who use their servicesThe new DAC7 rules will apply to Digital Platforms that facilitate the sale of goods or services, and the rental of immovable property.
According to DAC7, Digital Platforms include software applications (for mobile or desktop), websites or parts of a website that connect buyers to sellers and allows them to carry out a sales transaction.
Learn more about what your obligations are and how you can meet them in this guide we've prepared for you.
Download guideOnline platforms now must collect and verify the identification information of EU sellers who use their servicesThe new DAC7 rules will apply to Digital Platforms that facilitate the sale of goods or services, and the rental of immovable property.
According to DAC7, Digital Platforms include software applications (for mobile or desktop), websites or parts of a website that connect buyers to sellers and allows them to carry out a sales transaction.
Learn more about what your obligations are and how you can meet them in this guide we've prepared for you.
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the IMPORTANCE OF COMPLIANCE
Why you should comply with DAC7.
Serious penalties
Non-compliance can lead to serious penalties in each country where your platform operates.
Getting blocked in the EU
The EU may block access to your services if you do not meet DAC7 requirements.
Having to block sellers
If proper identification is lacking, sellers must be blocked from using your platform.
Is your organization impacted by DAC7?
Answer a few questions to find out if your business is in scope of the new reporting requirements for marketplaces and digital platforms.
Takes around 5 minutes
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