In July 2020, OECD has announced new rules relating to digital economy’s global tax reports, requesting digital platform operators to collect and report service contract information from sellers on accommodation, transportation and other individual services. 137 countries are expected to adopt this filing rules...

The rules announced by OECD are expected to provide the necessary technical framework and international law to achieve automatic message exchange, similar to individual financial account automatic information exchange system (Common Reporting Standard). This will also bring tax information disclosure to a whole new level.

According to the new rules announced by the OECD, called MRDP: Model Rules for Reporting by Platform Operators with respect to Sellers in the Sharing and Gig Economy. The MRDP aims to help tax payers to comply with its tax obligations and make sure a fair and competitive environment can coexist between Gig and Sharing Economy and the traditional economy.

In short, in order to avoid the inconsistency between countries arising from self-made rules by each country, OECD intends to establish a set of common global rules to enable a sustainable environment for digital economy growth...