Belgium’s government has introduced a draft law proposing updates to the current regulations on the automatic exchange of information (AEOI) and related obligations. The draft legislation also outlines new penalties under DAC6 and DAC7.  These changes are to be approved by the end of 2024.

The key provisions are as follows:

DAC7

Reporting platform operators must notify individuals about data collection and share relevant data with reportable sellers by 10 January 2025 compared to the previous reporting period of 31 January 2025. The data retention period for excluded sellers will increase from three to 10 years to align with other reportable data. New rules will also require platform operators with revoked registrations in Belgium or other member states to meet guarantee requirements.

Under the DAC7 regulation, digital platform operators are required to collect, verify, and report detailed information about sellers using their platforms to offer goods or services. This rule promotes information sharing and fosters collaboration among tax authorities across EU and Member States.

Earlier, Belgium’s finance Ministry of Finance in Belgium had released a Frequently Asked Questions (FAQ)  addressing the obligations of digital platform operators imposed by DAC7.

Penalties under DAC6 and DAC7

The penalty rules for DAC6 and DAC7 will be updated to account for cases of non-compliance that are beyond a person’s control. Penalties may be imposed but are not mandatory in such situations.

Personal data protection

New rules outline the responsibilities of  Belgian authorities for data breaches, including notifying the European Commission, suspending information exchange, and investigating and resolving such data breaches.