Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations SI 2024/1082 amend SI 2023/817 reg 4 so that the reporting exemption in paragraph (5) does not apply where the condition in paragraph (5)(a)(ii) is met but the reporting platform operator must consider the reportable seller resident in the UK under section II(D)(1) of the OECD Model Reporting Rules for Digital Platforms.
They also omit regulation 10 to remove the proportional reduction of thresholds in the model rules in cases where the seller is registered on the platform for only part of a reportable period. Consequential amendments are made to regulation 2 and Schedule 1 to omit the definition of 'excluded seller’.
These Regulations come into force on 25 November 2024.
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Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations SI 2024/1082 amend SI 2023/817 reg 4 so that the reporting exemption in paragraph (5) does not apply where the condition in paragraph (5)(a)(ii) is met but the reporting platform operator must consider the reportable seller resident in the UK under section II(D)(1) of the OECD Model Reporting Rules for Digital Platforms.
They also omit regulation 10 to remove the proportional reduction of thresholds in the model rules in cases where the seller is registered on the platform for only part of a reportable period. Consequential amendments are made to regulation 2 and Schedule 1 to omit the definition of 'excluded seller’.
These Regulations come into force on 25 November 2024.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
