The recent enactment of DAC7 legislation is significant for European users of AdultWork.com, introducing new obligations surrounding the collection of Payment Beneficiary details.
In this article, we'll guide you through the process of providing all the required details according to the regulations to navigate these regulatory changes effectively.
Why is this necessary?
DAC7 is a crucial measure aimed at enhancing transparency and combating tax evasion within the European Union. By providing accurate Payment Beneficiary details, users play a vital role in our compliance efforts, ensuring the integrity and reliability of our platform.
Which countries are in the European Union (EU)?
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
Where can I find information about my Tax Identification Number for my jurisdiction?
You can find information here
What you need to do?
To facilitate your compliance with these regulations, we have provided two distinct forms. You'll need to select and complete the form that applies to your circumstances, please see the link below:
Understanding the differentiation between the two forms is essential.
The Individual Form is tailored for users receiving funds directly as individuals, while the Company Form is tailored for users receiving funds on behalf of a company or organisation.
For Couple or Moresome accounts, it's important to note that only the recipient entity of funds from your AdultWork.com account is required to provide their details.
In need of assistance?
Should you require any clarification or assistance, please don't hesitate to get in touch.
Your cooperation in this matter is greatly appreciated.
Important Note: Please fill and submit the forms ONLY if you received an email from AdultWork.com asking you to do so. If you are under a Group Manager, the Group Manager will fill out the form for you.
In case you have NOT received an email from AdultWork.com asking you to fill out the form and you reside in the UK, then you do NOT have to fill out the form. The DAC7 form is solely for EU members and group managers.