The adoption of DAC7 by the EU has resulted in a host of new
due diligence and reporting requirements for the digital platforms
that are driving the online economy. Platform operators must
quickly get to grips with DAC7, or risk being liable for fines and
other sanctions.
Over the past few years, the online platform economy has
experienced exponential growth; a trend further fuelled by the
physical restrictions imposed during the Covid-19 pandemic. Also
referred to as digital platforms, the online platform economy is
the buying, selling and sharing of goods and services that's
facilitated by the likes of Amazon, Baidu and Uber.
Goods and services are increasingly traded on a plethora of
digital platforms, with both private individuals and businesses
actively buying and selling. It's become more difficult for
tax authorities to trace both the flow of goods and services as
well as the identities of sellers, therefore making it much harder
to ensure effective
