- Tax Data Sharing obligations like DAC7 are important for inhouse tax teams
- A mental model is helpful for understanding and explaining data sharing obligations
- Tax Data Sharing involves seven steps: Scoping, Collection, Validation, Aggregation, Notification, Submission, and Inquiries
- Platforms need to understand if they are within the scope of Data Sharing Obligations in different countries
- Data Sharing regulations are based on OECD’s Model Rules for Reporting by Platform Operators
- Regulations like DAC7 and Digital Platform Reporting Rules do not have a minimum threshold for platform size
- Data Collection is a crucial step in the process, requiring coordination with product and communications teams.
Source: fonoa.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
