The digital economy has seen the rise of digital intermediaries, which are often referred to as online marketplaces, digital platforms, or electronic distribution platforms. These digital platforms have become an essential link between businesses themselves, between businesses and consumers, and even between consumers. They have become the modern version of the town square marketplace — a one-stop shop to buy, sell, and exchange goods and services. Policymakers relatively quickly understood the central role marketplaces were playing and developed ways to deputize them in the VAT collection mechanism.
Source KPMG
