Welcome to the discussion on the DAC7 EU law, a regulation that significantly impacts webcam models and other online service providers within the European Union. Here's a summary of the key points and member insights:
- Under DAC7, digital platforms are required to collect and verify the ID information of EU sellers and report this to local tax authorities annually. This includes those offering services like livestreaming, food delivery, and online training.
- Members have shared their experiences and concerns regarding the impact of these regulations on their earnings and the complexity of complying with tax obligations across different EU countries.
- Some models from countries like Portugal and Romania have discussed the specific challenges and strategies related to taxation in their locales, including the necessity of setting up formal business structures and hiring accountants.
- There's a significant concern over the proportion of income taken by platforms and taxes, with fears of diminishing returns for the work done.
- Strategies for mitigating the impact of DAC7 include raising service prices, relocating or restructuring businesses to more tax-friendly EU countries, and exploring alternative income sources.
- There's an ongoing debate on the minimum earnings threshold for tax reporting under DAC7, with members discussing the specifics of when and how their income will be reported by platforms.
- Clarifications on the law’s specifics, such as the reporting threshold of 2000 euros or more than 30 transactions in a year, have been highlighted to help members understand their obligations.
- Members have also discussed the potential for platforms to interpret and implement the DAC7 rules differently, particularly in how they count transactions or sessions for reporting purposes.
This discussion is crucial for understanding how DAC7 affects the financial and operational aspects of webcam modeling within the EU. Members are encouraged to share advice, ask questions, and provide updates on their experiences as the situation evolves.