Inside DAC7: The EU’s Newest Tax Directive & Its Implementation Status [March 2023]
The EU’s newest tax directive, DAC7, which applies as of 1 January 2023, imposes new obligations on online marketplaces that have sellers based in the EU.
The Payouts Platform for the Internet Economy
End-to-end payout automation & management
Onboard > Pay > Tax > Sync
Streamline your contractor onboarding, payments, and tax compliance with a single platform. Save time, reduce costs, replace complicated processes, and scale your Accounts Payable infinitely using Trolley.
Enabling faster payments for
Self-serve contractor onboarding and automated compliance
Whether you use Trolley’s white-label portal, API, or embedded widget, it’s easy to collect payee bank and tax information securely. Trolley also helps you collect and verify information needed to meet compliance requirements for payouts.
- Localized for 215+ countries in 36 languages.
- User data is securely stored and encrypted in-flight and at rest
- Automatically updated as local payment verification requirements change
- Built-in compliance for screening against global watchlists
Send payments to 215+ countries
Trolley makes domestic or international payouts simple, which means you can send payouts to vendors using the payment methods they prefer. Our payout network lets you send to 215+ countries using 135+ currencies.
- Connect your accounting software, upload CSVs, or manually send payouts with a sinlge click
- White-labeled confirmation emails
- Automated handling of returned payments
- Invoice-style payments with line-item level detail, each supporting unique meta data and tax categorization
- A network of local banking services in over 200 countries and regions
- Customize approval workflows to match your needs
- One-platform reconciliation
Automatic contractor tax management tools
Collect tax and comply with your and your vendors' jurisdictions. Streamline supplier tax onboarding (W-9 & W-8 BEN) and filing (1099 & 1042-S) with automated form collection, validation, withholding calculations, payouts, and year-end tax reporting.
- 100% digital collection and completion of tax forms following IRS requirements
- Support for multiple income types: services, rent, royalties, tax exempt, etc.
- Generate year-end 1099 and 1042-S for E-File Reporting
- EOY reporting with 1099-MISC, 1099-NEC, 1042-S, & 1099-K (coming soon) statements delivered with a click
- Validate TINs including SSN, EIN & FTIN
- Every three years, W-8 forms automatically expire, and a new one is requested.
Sync with your ERP and simplify accounts payable
Connect Trolley to your ERP and other software using our built-in integrations. Save work, reduce manual effort, prevent duplication errors, and get the visibility you need to make business decisions — faster.
- Automate sending bills and vendors to Trolley from your ERP
- Mark bills as paid in your ERP [COMING SOON]
- Perform line-item-level reconciliation in your ERP [LATER IN 2023]
Bank Level Security and Encryption
Trolley takes data-security very seriously. We offer customizable security management settings and leverage bank-level encryption—so you can operate in full confidence.
- SOC 2® Type II compliant
- End-to-end 256-bit bank-level security
- IP & Domain Access white-listing
- Two-Factor Authentication
- User Roles and Permissions
- Built-in compliance for watchlist screening
- Fully transparent payment status tracking
Ready to get started?
Integrate, onboard, schedule, pay, communicate, and comply—all from the Trolley platform & API—with little effort required.
