How much do you know about the new EU law requiring internet platforms to report...

• A new law implementing DAC 7 directive will require internet platforms to provide tax authorities with information on sellers and service providers.
• The changes will apply to platforms facilitating sales and services online, such as Allegro, OLX, Amazon, Booking, and Otomoto.
• The purpose of the directive is to prevent tax fraud and ensure proper taxation of businesses operating through online platforms.
• Platforms will have to report on sellers and service providers who exceed the thresholds of 2,000 EUR or 30 transactions per year.
• The directive aims to eliminate cases of unregistered businesses selling through online platforms.
• The law does not apply to occasional private sales of used items.
• The information provided to tax authorities will include the seller's name, address, tax identification number, and transaction details.
• The law will come into effect on January 1, 2023.
• The penalties for non-compliance with the law may include fines of up to 2% of the platform's annual revenue.
• The directive is part of the EU's efforts to create a fair and transparent digital economy.

Test your knowledge on the new DAC 7 directive and its impact on online platforms! Learn about the purpose of the directive, which platforms will be affected, and the reporting requirements for sellers and service providers. Find out what information will be provided to tax authorities and the penalties for non-compliance. Take this quiz to stay up-to-date on the latest changes in the EU's efforts to create a fair and transparent digital economy.