If your platform lets people sell goods, offer services, or rent out homes or cars, you may have to report what those sellers earn to tax authorities. The rules come from the OECD, and each region has its own version, including DAC7 in the EU, SERR in Australia, and others elsewhere.
Who
Online marketplaces for goods, services, home rentals, and car rentals.
What
Each seller's name, tax details, and yearly earnings.
When
Already in effect. You report once a year, covering the year before.
Do next
Find out which of your sellers you need to report on.
How Taxbit helps
Taxbit collects and checks seller details when they sign up, matches earnings to your payouts, and creates the reports for each country. It runs alongside your 1099-K, CRS 2.0, and DAC8 reporting, so you don't need a separate tool for each.
MRDP stands for the OECD's Model Rules for Reporting by Platform Operators. It's a global template that requires online marketplaces to report what their sellers earn. Countries adopt it under their own names, such as DAC7 in the EU and SERR in Australia.
DAC7 is the EU's version of MRDP. It requires online marketplaces to report seller identities and earnings every year. It applies to platforms with sellers in the EU, including some platforms based outside the EU.
SERR is Australia's Sharing Economy Reporting Regime, its version of MRDP. Marketplaces report seller details and earnings to the Australian Taxation Office. If you already report under DAC7, you're collecting almost the same information.
DAC7 applies from the 2023 tax year. The first reports were due in January 2024, and reports are due every January after that.
Online marketplaces where people sell goods, offer personal services, or rent out property or vehicles. The marketplace reports, not the seller.
The 1099-K is the US form for reporting payments to sellers. DAC7 is the EU rule. If your marketplace operates in both, you report under both, and Taxbit can create both from the same seller data.
Taxbit reports DAC7 across the EU and SERR in Australia today, and adds other countries' versions as they take effect. Talk to us to confirm your markets.
See how Taxbit handles your seller reporting, using your own data.
