How does DAC7 reporting work?

DAC7 is an EU regulation requiring digital platforms to report certain income earned by sellers or service providers operating within the European Union.

If you are based in the EU or provide services to EU users, your income earned through iknowly may be subject to DAC7 reporting. This means:

• your identity may be verified
• income information may be reported to tax authorities
• additional documentation may be requested

Stripe onboarding may collect required identification and tax information to comply with regulatory obligations.

DAC7 reporting does not change your personal tax responsibility; it increases transparency between platforms and tax authorities.

For detailed obligations, consult your local tax advisor.

Additional references: Stripe onboarding, tax obligations.