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.
Getting songs onto platforms like Spotify, Apple Music, and TikTok is difficult for independent artists to do by themselves. Working with a distributor makes this much easier, but not all digital distributors are created equal—they can leave artists on the hook with subscription payments or paying fees to receive their hard-earned royalties.
Our priority was to quickly onboard users and issue 1099s & 1042s in the 2021 tax year, a target we could not have met with in-house development. We were able to do this with Trolley.”
"We’ve really expanded our footprint and extended our reach into more countries. It frees up time which can be devoted to rolling out new features for our users. That’s my favorite part of Trolley."
“Using Trolley for payouts has significantly cut down the manual processing time required of our accounting teams. We estimate we’re saving each person on our team of four at least a day’s work per payment run.”
“We’ve already recommended Trolley, and some of our [Downtown Music Group] sister companies are onboarding now. We’ve been really happy with the collaboration and support from the Trolley team.”
How Crucial Music eliminated paper checks & automated royalty payouts
Paid-to-play: Nexus provides an all-new source of income to gamers