- New reporting requirements for digital platforms have been implemented by the Canada Revenue Agency
- Reporting platform operators are now required to collect and report information on sellers to the CRA
- A reporting platform operator is a platform operator resident in Canada or allowing sellers to sell goods in Canada
- Reportable sellers are sellers registered on a digital platform selling goods to customers in Canada or other countries with the rules
- Information to be reported includes identification and activity information on each reportable seller
- Due diligence procedures must be followed to ensure the reliability of the information collected and reported
- The first information return is due by January 31, 2025 for the 2024 calendar year
Source: canada.ca
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.
