DAC7 Archives - Gigapay
DAC7 At Last? 5 Key Actions You Can Take Now

DAC7 At Last? 5 Key Actions You Can Take Now

There is a growing amount of buzz around DAC7, and how it will expand the EU-wide Tax Authority cooperation, while also helping member states address the challenges of the ever-increasing digital economy. But this is not without some drawbacks for business owners, since there’s a lot of burden on certain platforms within the scope ofRead More...

What DAC7 Means For The Gig & Creator Economy

What DAC7 Means For The Gig & Creator Economy

The gig and creator economy exploded during the pandemic, which compelled the EU council to adopt a new directive to foster tax transparency – DAC7.  This directive, however, will impact platforms in the gig and creator economy, as well as creators or freelancers that use the platforms for transactions.  By the time you’re done withRead More...

DAC7: 5 Lessons Learned From GDPR

DAC7: 5 Lessons Learned From GDPR

Do you remember what it was like when GDPR was enacted? Companies had to redo their processes on how they treat data. Although the intentions were good, it wasn’t without some hiccups. Come 1st January 2023, a new law affecting digital platforms will come into play – DAC7. However, you don’t need to panic, asRead More...

DAC7 Directive

DAC7 Directive: How Your Platform Can Become Compliant

Due to the physical restriction imposed during the Covid-19 pandemic, online platforms exploded, with the likes of Fiverr reporting a 77% jump in 2020 revenue to $190 million. This unprecedented growth led the EU council to adopt the DAC7 Directive to enhance tax transparency.  This new directive will force certain digital platform operators to adhereRead More...

Why DAC7 Is A Good Thing for European marketplace businesses

Why DAC7 Is A Good Thing For European Marketplace Businesses

Some may argue that the adoption of DAC7 is not a good thing for EU businesses, as European marketplace businesses will incur expenses and administration as they comply. Not forgetting, sellers of goods and services (like creators or giggers) might find the request for additional information as intrusive. However, we don’t see it as allRead More...

What Is the Gig Economy? Definition, Pros & Cons

What is the Gig Economy? Definition, Pros & Cons

The gig economy is a billion-dollar industry, with over 55 million gig workers in the US. With more and more companies springing up every day, there’s no doubt that the gig economy has come to stay. The term “gig economy” is a free market system where businesses or professionals hire skilled workers, contractors, freelancers, orRead More...

What Is DAC7 And Why You Should Care

What Is DAC7 And Why You Should Care

On March 22, 2021, the EU Council imposed a new Directive on Digital platforms to foster tax transparency. As you already know, the pandemic was a hard hit on the economy.  In a bid to recover, it gave birth to the seventh Directive recently imposed on digital businesses. As many digital marketplaces achieved tremendous growthRead More...