Transaction Reporting Requirements to Governments
Many governments around the world now require all accommodation to be reporting to their tax authorities.
We expect most OECD countries in the world to adopt these requirements soon.
The OECD has recommended all its members adopt new reporting laws for digital platform operators, effectively requiring all accommodation bookings (and other digital transactions) to be reported to local tax Authorities in the countries that the Stay is located in, or the operator is a resident in.
Countries with Detailed Reporting Requirements
- All EU countries (DAC7)
- United Kingdom
In Dec 22 Australia passed laws requiring platforms to advise the ATO of transactions.https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6890
The most visible of these is the European Union's