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Anyone heard yet about DAC 7? Potential bomb for the EU collecting/flipping community?

  1. Shabbaz Fri. 12:11am

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    DAC7’ (Directive on Administrative Cooperation 7), introduces new requirements for online platforms, obliging them to report data about their users' transactions to the tax authorities. The law will enter into force on 1 January 2023.

    DAC7 aims to harmonise reporting obligations throughout the EU, specifically as regards online platforms. It also governs the sharing of that information among tax authorities. Under DAC7, the provider of an online platform that allows sellers to be connected to other users for the purpose of carrying out a "relevant activity" must start collecting transaction and other data regarding those users. Sellers can be both entities and natural persons. If the seller is a natural person and qualifies as a reportable seller, certain personal data will have to be collected and reported, as further specified in DAC7.

    Relevant activities are:

    1. The rental of immovable property, including both residential and commercial property, as well as any other immovable property and parking spaces;
    2. Personal service;
    3. The sale of goods; and
    4. The rental of any mode of transport.
    Under the new law, the data collected by the platform must be reported to the national Tax and Customs Administration, subject to certain exceptions. For instance, a seller is not reportable if it has concluded less than 30 relevant activities and the total revenue in relation to these activities is below EUR 2,000 in any year.

    With other words, the days of selling watches anonymously are over. Big brother is watching you... : )

    Any comments?
     
    Mark020 likes this.
  2. watchyouwant ΩF Clairvoyant Fri. 1:00am

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    Same in Australia. About time to check these transactions .
     
  3. Pastorbottle Fri. 2:32am

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    Ah well they’ll have to go back to bailing up potential customers in the street with 6 watches strapped to each arm!
    “Pssssst…..wanna buy a watch?”
     
  4. JwRosenthal Fri. 3:00am

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    This big brother shit is getting tiresome. I’m getting more libertarian by the day.
     
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  5. omegastar Fri. 3:21am

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    Everything already changed on 1st of July 2021 with this :

    Council Directive (EU) 2019/1995 of 21 November 2019 amending Directive 2006/112/EC as regards provisions relating to distance sales of goods and certain domestic supplies of goods.

    Haven’t you noticed that there are much fewer sellers on eBay and fewer goods for sale ?

    In short, VAT has to be paid to the buyer’s country and not the seller’s country anymore. Sale platforms are responsible in the end and will have to pay the VAT. Which means the platforms are already gathering the information to protect themselves and blocking sellers who are not complying. The limit is 10.000€.
     
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  6. p4ul “WATERRROOP” to 50m Fri. 3:29am

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    Allied to the points above.
    I asked in another thread if anyone knows why some of these watches seem to attract VAT others not? All from the same seller, can someone educate me, please? Germany based seller my eBay search in the UK.
    B9B54C5F-6274-445B-A7CA-2FBD5AB2C23D.png

    Thanks in advance.
     
  7. Mark020 not the sharpest pencil in the ΩF drawer Fri. 3:45am

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    From Germany to UK is VAT. As simple as that.
     
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  8. omegastar Fri. 3:48am

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    If you are located in the UK, you should pay import taxes. eBay will collect them for the UK government. It should apply to all of these watches. Maybe some technical approximation of the eBay system, wouldn’t be the first time.
     
    Fish70 likes this.
  9. DrmexicoII Fri. 4:05am

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    I don't understand why some have VAT applied and others not. My rudimentary understanding says that they should all have UK VAT @ 20% applied, plus the buyer will have 2% import duty to pay on top. Although there might be some small threshold where that import duty doesn't apply.
     
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  10. omegastar Fri. 4:12am

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    In the end, VAT will be asked and paid. If not to eBay then in customs. No way out !
     
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  11. dsio Ash @ ΩF Staff Member Fri. 4:26am

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    People should be paying their required taxes whatever they may be, but its rather disappointing how frequently the EU acts without consideration of the impact of their actions on the internet in general, but more particularly on sites that don’t have the financial ability to keep up with the burden of ongoing compliance. They enact these things with big tech players in mind and don’t consider anything beyond that.
     
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  12. p4ul “WATERRROOP” to 50m Fri. 4:51am

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    Obviou
    ^^^
    This, but a cash threshold does not work on the shown prices. Obviously taxes will apply anyway.
    As mentioned it must be an eBay cock up.
     
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  13. Mark020 not the sharpest pencil in the ΩF drawer Fri. 5:04am

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    Ebay will claim the VAT anyway. And then the Dutch tax authorities will try it again ::facepalm1::
     
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  14. Pastorbottle Fri. 5:11am

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    Yes folks should be paying their taxes…….but major multinational corporations and filthy rich bastards with armies of lawyers and bean counters on speed dial should pay too! Oh so often they don’t, and maybe if they coughed up their fair share, then the world might just be a better place
     
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  15. watchyouwant ΩF Clairvoyant Fri. 5:29am

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    This !
     
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  16. watchyouwant ΩF Clairvoyant Fri. 5:36am

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    That goes far beyond watches. For example: we have a disasterous Rental crisis in big and medium cities. Landlords take rentals off the market to maximise profits in short term leases like Airbnb. Offered in Facebook linked local buy/swap/sell sites. Not paying taxes at all . Young people, having good jobs, sleep in cars. Tents. Real estate agents start bidding procedures for the highest rent. Unbelievable. Rents are much higher than mortgage payments would be. But banks don't lent as they used to. Catch 22.
     
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  17. Pastorbottle Fri. 5:40am

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    Greed rules supreme!
     
  18. cristos71 Sat. 6:05am

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    Gotta love NL! :confused:
     
  19. Tony C. Ωf Jury member Sat. 6:39am

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    A not so loose analogy...

    transfusion.jpg
     
    Edited Mar 18, 2023 6:45am
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  20. RevZMan123 Sat. 9:17am

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    Easier to go after some dude selling a few watches in IG that go after companies using high priced lawyers and tax havens. It's disgusting.
     
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