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

Study Notes

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.