From 1 January 2020, it will be mandatory for digital marketplaces in Austria to keep detailed records on transactions that have been made on the platforms by third-party sellers. These records will need to be submitted to tax authorities on an on-request basis, when tax authorities request information from the marketplaces such as seller details, values of transactions and VAT liabilities of sellers.
J&P Comments
Austria is not the only EU country that will soon be required to report details on transactions made by third-party sellers – from 31 October, online marketplaces in Italy will need to submit this information to tax authorities on a quarterly basis. These new requirements are effective ways of preventing VAT fraud from taking place in European E-commerce.
