Italy: New decree implements EU Directive for Automatic Financial Account Information Exchange for digital platform operators
The Italian Official Gazette published Legislative Decree No. 32, which implements EU Council Directive 2021/514 for digital platform operators (DAC7) on mandatory automatic exchange of financial account information. The decree defines key terms, establishes due diligence procedures, clarifies registration and reporting obligations, provides verification procedures and penalties for noncompliance, and obligates connecting services to notify the EU commission of four types of income and capital categories. The new regulations are effective from March 26 and require compliance by Jan. 1, 2024.
Source: gazzettaufficiale.it
