DAC7- European Commission targets digital platforms and sharing services

Oct 2, 2020 | Digital Services, VAT Updates

VAT Updates Europe

Revision of the Directive on administrative cooperation (DAC7)

The Commission has proposed to amend the Directive on Administrative Cooperation, to extend the EU tax transparency rules to digital platforms. Member States will automatically exchange information on income generated by sellers on digital platforms. This will not only allow national authorities to identify situations where tax should be paid, but will also reduce the administrative burden placed on platforms, who have to deal with several, different national reporting requirements.

 

Source Credit: VATupdate.com

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