- DAC7 is the latest update of the EU’s Directive on administration cooperation in the field of taxation and other EU Member States have already passed their respective implementation act or have published draft implementation bills.
- Member States must transpose the Directive into national law by 31 December 2022.
- The German draft DAC7 implementation bill sets forth due diligence procedures and reporting requirements for platform operators.
- After promulgation of the law, according to the current wording, reporting platform operators will be immediately obliged to register with a competent authority of an EU Member State.
Source EY
