- Implementation of Reporting Rules: Effective January 1, 2025, Iceland will enforce new Digital Platform Reporting Rules, aligned with the OECD Model Rules and EU’s DAC7 directive, requiring digital platform operators to report detailed seller information.
- Scope and Requirements: The regulations cover platforms involved in rental, sales, and personal services, mandating operators to collect seller information, including Tax Identification Numbers, and notify sellers of their reporting obligations, with no minimum threshold for compliance.
- Integration and Global Context: Non-resident companies are included in these requirements, and existing EU DAC7 reporters can incorporate Icelandic data into their reports, positioning Iceland alongside other countries with similar data-sharing regulations.
Source Fonoa
