A recent public consultation has been released regarding UK’s reporting rules for digital platforms. The consultation sought opinions regarding proposed rules to put the Model Reporting Rules for Digital Platforms of the Organization for Economic Co-operation and Development (OECD) into effect.
The digital marketplaces will provide HMRC with information regarding their financial data, specifically the earnings of their sellers. Thus, to enforce the restrictions, a new set of sanctions was also suggested during the consultation.
Source: GVC
