On 9 December, a Tax Alert from Baker McKenzie reported that, on 21 November, EU Member States reached consensus on a proposal for the 7th Directive on Administrative Cooperation (DAC7).  The updated Directive is a part of a package which was published by the European Commission earlier this year to promote fair and simple taxation.  It is expected that DAC7 will be officially adopted on short notice.  DAC7 aims to strengthen the existing framework for exchange of information and administrative cooperation, by providing a better flow of information with respect to taxpayers that generate income through digital platforms. It introduces an obligation for certain digital platforms to collect and report information to their local tax authority on income generated by certain sellers on those digital platforms; and this reporting obligation imposes an additional compliance burden for the digital platform companies in scope, as such companies will be confronted with an additional due diligence and reporting obligation.  The Tax Alert also notes that preparations are already in motion for an eight Directive (“DAC8”) which will cover crypto assets.



I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: