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European Parliament Vote Paves Way for Tax Information Exchange

March 10, 2021, 7:13 PM

A new European Union rule allowing tax administrations to share information from online platforms can move ahead following a European Parliament vote Wednesday.

The rule, which will apply from 2023, will allow tax authorities to automatically share information they collect from platforms, including Airbnb Inc. and eBay Inc., on the revenues of their EU-based sellers.

The measure is meant to backstop against underreporting of revenues by sellers, and also ease the reporting burden for platforms, which currently might have to report the same information to multiple tax administrations, the European Parliament said, in a nonbinding opinion adopted ...

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