How Well Do You Know the EU's New Sharing Economy Regulations?

• Platforms are required to collect information on individuals who regularly share their properties on booking websites.
• This is to combat the perception that private individuals offering accommodation are unfairly competing with hotels by not being taxed in the same way.
• Failure to comply with the new law could result in fines ranging from 100,000 to 5 million PLN.
• The level of fines is not dictated by the directive, but by the Polish government.
• Platforms are required to collect a range of data, including NIP and VAT numbers.
• If a seller fails to provide the necessary information, the platform must block their sales and withhold payment.
• The law is set to come into effect on May 1, 2023.
• The first year for which platforms will have to provide data is the current year.
• The directive requires that appropriate measures be introduced to combat tax evasion in the sharing economy.
• There are currently significant differences in the level of fines for non-compliance across EU member states.

Test your knowledge on the new regulations requiring booking platforms to collect data on individuals offering accommodation. Learn about the reasons behind this law, the potential fines for non-compliance, and the specific data that platforms must collect. Discover when the law comes into effect and the measures being taken to combat tax evasion in the sharing economy. Test yourself on the differences in fines across EU member states and see how much you know about this important topic.