Reporting obligations of DAC7
What is DAC7?
DAC7 is a tax EU Council Directive 2021/514 that requires digital marketplaces such as Getaround to collect and report taxpayer information on users who earn income on the Getaround platform.
Who does DAC7 apply to?
DAC7 applies to owners who:
- are living in an EU Member State and have generated income by renting their cars via the platform
- have generated income by renting their cars via the platform within one of the EU Member States.
What data is required to be shared with the EU tax authorities?
Starting in January 2024, and every month of January onwards, Getaround will have to transfer to the Tax Authorities data about all rentals made by the owners on its platform over the previous year.
Getaround will transfer the following data:
- Number of rentals per quarter via Getaround
- Amount of revenue per quarter earned via Getaround
- Service fees per quarter retained by Getaround
- Taxes per quarter retained by Getaround
- Residence address
- Tax identification number (TIN) and the issuer country
- VAT identification number, if registered
- Bank account details
- For professional owners: Business name
- For individual owners: First name, Last name, Date of birth, Birthplace (if required)
If any of this information is missing/outdated on your Getaround account, you must complete/update it.
How do I provide/update my information?
Please follow these steps on the Getaround website (not available in the app):
- Log in to your account
- Select your owner profile picture and select Edit your account
- On the Account tab, select Payout settings
- Select Change the company or Change my information (or both if you received revenue as a company and as an individual during the year)
- Review, fill in the missing information, and click on Change to submit your information.
I received an error when inputting my tax ID. How can I correct this?
Each country’s expected tax ID format for Individuals and for Companies should respect the OECD guidelines. Please review your input and try again.
What happens if I don’t complete/update my information?
If any information is missing or is outdated and despite our reminders you have still not completed/updated it, Getaround will have no choice but to suspend your account and your payouts until you correct/complete your data.
Once the information is provided/updated, your account will be reactivated and you will then receive all your payments.
