On January 1, 2023, a new EU directive, DAC7, came into effect, focusing on improving tax transparency and cooperation among EU member states. This directive impacts all digital platforms, including Amovens, which are now required to collect, verify, and report tax information about their users.

What is DAC7?

DAC7 is a directive that mandates digital platforms to ensure tax transparency by collecting and reporting user and income data to the tax authorities in the user's country of residence. Amovens will start reporting this information annually, beginning with the income year 2023, with the first report due in January 2024.

Who does DAC7 apply to?

DAC7 applies to all digital platform operators like Amovens and affects both individuals and businesses using these platforms to offer services or goods. As a user of Amovens, whether you are renting out your car or providing services, you must comply with this directive by providing accurate information to ensure proper reporting.

Key information requirements

For private individuals:

• First and last name

• Primary residence address

• Country of residence

• Date of birth

• Tax identification number (TIN)

• EU member state of TIN issuance

• VAT number (if applicable)

• Financial account identifiers (e.g., bank account numbers)

• Name of the financial account holder

For business entities:

• Business or legal name

• Business registration number

• Primary address

• Tax identification number (CVR or SE-number)

• EU member state of CVR or SE-number issuance

• Financial account identifiers

• Name of the financial account holder

Providing and updating your information

You can submit or update your required tax information via our tax form available on the Amovens platform. It is crucial to ensure that all provided information is accurate to avoid any issues with tax reporting.

Co-host information

If you share income from renting out a vehicle with a co-host, Amovens also requires information about the co-host to comply with DAC7. This information includes the co-host's name, residence, TIN, and financial account details.

Consequences of non-compliance

Failure to provide the required information could lead to reminders from Amovens, suspension of payouts, and blocking of your profile from receiving future bookings. These restrictions will remain until the necessary information is provided.

Data retention and privacy

Under DAC7, Amovens is obligated to retain user data for a period necessary to fulfil legal requirements. Even if you close your account, Amovens must keep your data to comply with DAC7 obligations.