- Digital platform operators will need to comply with extensive new reporting requirements in the new year.
- Legislation to implement model rules developed by the OECD for digital platform operators takes effect on 1 January 2024, with the first reporting — and exchange of information by the Canada Revenue Agency with its partner jurisdictions’ tax administrations — occurring in early 2025 with respect to the 2024 calendar year.
- Digital platform operators subject to these rules should review their processes and systems to ensure they are able to comply with the reporting requirements.
Source EY
Join the Linkedin Group on VAT/GST and E-Commerce HERE