Global Agreement Requires Apps to Report User Earnings to Tax Authorities

The new rules, signed by 38 OECD members, target individuals earning more than £1,000 a year through online platforms, with the first reporting deadline set for January 2025.

Under a new global agreement, apps like eBay and Airbnb will now report users' earnings to tax authorities, aiming to counter tax evasion.
The new rules apply to individuals who earn more than £1,000 a year through online platforms, requiring them to register as self-employed and file a tax return.
The first reporting deadline is the end of January 2025, a year after the rules come into force.
The agreement was signed by the 38 members of the Organisation for Economic Cooperation and Development (OECD), including the US, UK, and many European countries.
The new law may impact a select few sellers who make a profit from selling second-hand items, depending on their personal tax situation.