Oh I love America
Please just delete the thread until more is confirmed… When the devs are finished make the post then… @SWAPD
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Agree with you
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Do any of these apply?
Is the amount/counterpart you
receive for the transaction is known to
the platform?
Can the platform disclose the amount/
consideration you receive
reasonably know?
If the answer is > No. Then reporting the income is not required.
So: a solution would require the total amount to be ‘unknown’ to Swapd. Ex: perhaps a group of trusted individuals (Swapd Partners) can manage and monitor transactions and facilitate deals according to Swapd terms. This will make sure the transactions are safe, and unknown to as platform. Which in terms makes it sort of a loophole to the law in question. Especially if its all in crypto (might variated based on country, but this is what I found)
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For me, India is not affected and time for other countries members to shift to UAE. Come to Dubai. 
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He’s saying UAE is affected. THen its also not affected.
So everyone clueless which is why this is pointless thread till we knore more.
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First time feeling happy to see I am from India otherwise always felt racism in online business.
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We can only report on what was sent to the seller—that’s it. Whatever his/her delivery costs were, that’s up to the seller and the IRS. If users are crafty, they can always claim their rendered services costs were high, thus leaving very little potential revenue and tax to pay.
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Cant they just say it cost me 1k to deliver the service and I sold it for 1k.
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UAE recently caved in to FACTA rules. When they didn’t, the EU blacklisted the country, and wiring to/from UAE was problematic. I can only assume UAE will again be a lap dog and follow through on this if they want to play in the financial markets.
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You can report about UAE residents but Gov have no taxes, So it means no Harm.
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Move to Dubai… or Singapore… tax rules there are way different… and more favorable to everyone
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Everyone thinks the UAE is this godsend of a country, but it isn’t. Cheap taxes, that’s it. And they will be progressively raised (0 tax was a bait that worked), mark my words.
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no need reporting of sellers… this was the key point right?
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Yes.
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So does this apply for the sales made or from the day this begins?
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Yes UAE will increase tax in future
It’s all about getting more potential tax payers before increasing tax
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I understand. But the thing is that if every amount in the transaction sent to the seller would be ‘technically’ unknown to you - it would sort of ‘bypass’ the law and Swapd’s need to report this. Both to the Polish tax authorities and in the rest of the countries. How legal this is, and if its actually beneficial/working should be discussed with a lawyer or expert of course. But it could be a loophole to look into. Source is from wnat I understood from my local tax authority
Since the transaction would be monitored by volunteers/the community - rather than the platform. This would undermine the safety of Swapd a little bit - but could work theoretically by only working with trusted individuals that would also account for the Swapd fees which could be paid to you by them by taking in a fee. But it will ensure that members will stick around after the law. Primarily since the majority deals with crypto only and probably don’t keep track of expenses and earning per law with this.
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I have an idea, so if swapd and the others want it, we can make it happen.
I do not fall under the countries in that regulation, and my country is in Europe, very beautiful and good.
If @swapd would invest I would open an agency and every person from the platform would work for agency. And all the money you earn would go to agency, which would later pay you, ie the user who earned it, in the way he wants, because that person would be misled as an employee in my agency.
Because although EVERY PERSON MUST report taxes, it is up to them. SWAPD would not be required to report beneficiaries who are employed through an agency not covered by the DAC7 regulation. And that would make the procedure easier. and whether the user would report earnings or not is up to him, so SWAPD would avoid reporting that person.
and since that person is employed by Agency, I would pay him directly via crypto. and whether that person will report it or not swapd dont care about it. (And he will always send agency crypto for reciving payment)
I think this is a great solution and I’m ready 24/7 to advocate for this idea if anyone would invest in it
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