This discussion focuses on the new EU tax legislation known as DAC7, which mandates platform operators to report earnings of users residing or tax-resident in the EU.
- DAC7 Reporting: Platforms must report earnings of users whose primary residence or tax residence is in an EU country. This includes companies registered in the EU.
- Non-EU Users: Users not residing or tax-resident in the EU are not subject to this reporting.
- Compliance: Failure to provide the necessary tax information may result in account closure or inability to cash out earnings.
- First Reports: Earnings for 2023 will be reported initially, with the first reports expected around July.
- Privacy Concerns: Some members are concerned about privacy, especially regarding how payment descriptions appear on financial statements.