Amazon urging sellers to confirm trader’s information as part of upcoming DAC7May 10, 2023 in Amazon, European VAT
Amazon urging sellers to confirm trader’s information as part of upcoming DAC7
The DAC7 obligation is looming for online marketplaces which will need to start reporting seller’s revenue and business information to tax authorities on an annual basis when facilitating supplies to EU consumers.
Amazon is giving reportable sellers until 1st October 2023 to make sure they have provided and confirmed the information required on their Seller Central account for each Amazon store they use. Once a seller becomes reportable, they will be given 60 days after receiving the request from Amazon. Failure to send the required details to Amazon might result in the marketplace deactivating the relevant accounts and withholding funds until the seller complies with the requirement.
More updates and information from Amazon about the DAC7 is expected to be shared closer to the deadline.