ATTN EU SWAPD sellers - Your earnings will soon be reported to the IRS if you earned more than 2000 EUR

Apart from all the complaints, since SWAPD is registered in the EU it must have happened. However, I have a question: when exactly does the process of transferring data to the DAC-7 directive start? I need to know when to make an appointment for tax advice :joy: (I see this „by the end of year” message, but don’t know if I understand it)

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@SWAPD this won’t be the last sadly

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Go legal, or go home.

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Or go to desert where no govt and laws exists :smiley:

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Swapd sales about to go:

I don’t understand how you think this won’t ruin everything here.

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Insane.

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@holma, I will repeat myself one more time:

  1. SWAPD will not go illegal to protect the wallets of a few individuals who wish not to pay taxes
  2. We will not go underground
  3. This applies to EU members only
  4. The world doesn’t end on EU, data from the last 30 days:
    image
  5. I hope serious sellers who are currently rogue will start thinking about going legal
  6. I can start pointing out people who are whining here but are freely accepting Wise payments (and requesting invoices), all while thinking they’re anonymous from their local IRS
  7. Stop whining for Gods sake, you always whine, you’re not even a seller

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I just don’t want this community to go down hill. I want to retain quality sellers and have more.

That’s why I am whining.

Maybe make it very very obvious only affects EU countries.

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It is what it is. If you’re worried about it going down, buy it! :smiley:

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@holma rn

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They give balances man not full movements and its mostly usa, rest should start 2025

50yr old man humor

Albania on top once again.

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I read all your comments on this thread. I’m tired.

I give zero fucks. Hope we don’t lose good sellers.

Kosovo aswell🤣

Then why bother reading, let alone commenting?

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Because he thinks he’s a cool cat!

SWAPD FOR THE WIN BABY!

Update: There are no current updates on this matter. Our government is slow, and we’re still waiting for their instructions and the actual process of how this should work, as they don’t have a single thing mentioned about this on their website. But this was to be expected, they have until the end of the year to comply with the EU directive, also.

Update:

  1. The information we have to send doesn’t go to the IRS, but to our Ministry of Finance. The directive says the information is used to exchange data between EU member states.
  2. We’re still waiting for information to determine whether users who signed up before 2023 are exempt.
  3. We’re most likely getting a 3rd party to handle this fiasco (TaxBit.com), a US-based firm.
  4. This data doesn’t have to be submitted until the end of 2024.

More updates soon.