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EU Member States agree on new tax transparency rules for digital platforms

On December 1, EU Member States reached an agreement on the extension of EU’s tax transparency rules to digital platforms, in order to ensure fair tax payment from digital retailers and service providers. The formal adoption of this agreement will follow once the European Parliament and the Economic and Social Committee have given their opinion, but the new rules are expected to apply from January 2023 onwards.

The agreed proposal on administrative cooperation (DAC 7) will ensure that Member States automatically exchange information on the revenues generated by sellers on digital platforms, whether the platform is located in the EU or not, allowing national authorities to detect situations where tax should be paid, while reducing the administrative burden on platforms.

SOURCE: https://ec.europa.eu