Spain Adopts Information Reporting Rules for Digital Platforms

Spain approved a decree Tuesday adopting European Union rules on reporting and information requirements for digital platforms, known as DAC 7.

Under the decree, digital platforms will have to collect data on users’ activity and report it to the tax authority. It also establishes a multilateral agreement on the automatic exchange of information on income received through digital platforms.

• “With the adoption of this decree we will improve administrative cooperation in the European Union and expand collaboration with the aim of tackling the challenges created by the digitization of the economy,” the Finance Ministry said in a release. ...