"Tax Authorities Tighten Grip on Online Sales Earnings from Apps like Airbnb and eBay"
A new global agreement among the 38 OECD member countries mandates that apps such as eBay and Airbnb will automatically report users' earnings to tax authorities to combat tax evasion and ensure compliance. This rule targets income from various online activities, including sales of goods, services, and property rentals. The platforms began collecting data on January 1, 2024, with the first reports to tax bodies scheduled for early next year after accumulating 12 months of data. The move aims to level the playing field for taxpayers and assist online sellers in correctly filing their taxes.
