A collection of the brief insights throughout August 2021 of the type provided on an ad hoc basis in our Latest digital tax byte update.
31 August 2021 - Australia introduces Bill on platform reporting
Legislation requiring operators of online marketplaces to report seller identification and payment details to the Australian Taxation Office (ATO) was introduced into Parliament on 25 August 2021. The Bill before Parliament seeks to give effect to the Federal Government’s announcement in its 2019-20 Mid-Year Economic and Fiscal Outlook that it would introduce a third-party reporting regime for the sharing economy. The Bill’s provisions are the same as in the previously publicly released Exposure Draft legislation for which the Treasury released a Fact Sheet that summarised the key aspects of the proposed provisions, including how the ATO will likely administer the regime.
26 August 2021 - US Senate Finance Committee releases proposals for consultation
Senate Finance Committee Chairman Ron Wyden has released discussion draft legislation and a six-page, section-by-section staff description on international tax reform proposals for the US.