DAC7 Return Filing
Hello, in this tutorial you will learn how to file your DAC7 return through LOVAT platform.
DAC7 reporting is available in “Reports” section. Here we need to fill a Business name and choose the reporting year. On the next page it’s required to add information about Platform Sellers.
For sellers who sell goods there is a reporting threshold:
- 2000 euro/year;
- 30 transactions.
We have already added some merchants via integration and can see some info pre-filled: Company name, total gross amount of transactions and number of those transactions. Each merchant can be added either one by one by choosing “Add new merchant” or via upload with Excel file. Here is the example for uploading for Natural person. There are two types of natural persons – professionals and individuals. This example is for individuals.
We have a possibility to edit information about sellers before the submission as we do now with number of transactions for this merchant.
Once the information is filled about merchants – click “next” and now we need to choose how notify merchants about submitted report as Online Platform must send information to every merchant. We can choose if we want LOVAT to notify sellers or if Online Platform do es this and the notification method. We choose LOVAT and add email address for sellers’ requests. We can check or upload notifications before the next step.
The final sections is the summary of the return and here we can once again check if every seller is listed. Than we can either submit the DAC7 report, save it for future submission or download the report and then upload it to the relevant portal of tax authorities.
We now choose to submit the report and agree.
After this, return will be in “pending” status. Once the DAC7 report will be accepted by tax office – the status will change to “submitted” or declined if there are mistakes.
We can also file nil DAC7 return or corrected DAC7 return via Lovat platform.