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.
P2P MARKETPLACE SELLERS
Scale your marketplace with confidence
International vendors and resellers open all new lanes for your business but paying them can create compliance questions. Trolley reliably manages the payouts process, validating recipient details before payment, so you can focus on growing your business.
"After extensive research on payout platforms, we chose Trolley because it was affordable for a start-up like Gear Focus. Their customer support is amazing and knowing we can grow with the platform is just an added bonus."
Matthew Baron, Founder at
Accept sellers from anywhere
Sourcing the next in-demand good shouldn’t be limited by borders. With global payment options, Trolley lets you pay vendors anywhere using the currencies and payment methods they prefer.- Pay sellers in over 215 countries.
- Work across currencies with minimal FX fees.
- Use the payment methods your recipients prefer (Local bank transfers/SWIFT wire/PayPal).
Tackle emerging tax challenges
With a new reporting requirement that applies to almost every transaction (1099-K), tax season just got a whole lot tougher. Trolley can help streamline your whole tax workflow, from W-8/W-9 collection to end-of-year IRS reporting.- Gather W-9 & W-8 BEN forms as you sign up new vendors.
- Collect details for every payout throughout the year in one central database.
- Automate 1099 & 1042-S form production and distribution.
Offload data management risks
Managing personal-identifying data shouldn’t be taken lightly. Trolley handles collecting and managing sensitive recipient data with bank-level security protocols so you can rest easy.- Integrate the Trolley widget to securely collect data.
- Rely on banking-grade encryption and data-protection protocols.
- Protect against paying bad actors with automated user validation & transaction screening
A single platform to fuel your growth
Trolley is on-brand
Offer a seamless look & feel. Every stage of the recipient experience (portal, widget, emails) can be branded with your colors and logos to build your reputation, not ours.
Trolley is flexible
Make payment easy. Trolley offers the most options for your contractors (Bank transfers [ACH/EFT/SEPA], PayPal, SWIFT wire), keeping your contractors paid & happy.
Trolley is borderless
Don’t miss out on opportunities because of geography. Localized in 38 languages and paying to 215+ countries, your talent pool just got a whole lot deeper.
Trolley is secure
We take security very seriously. Hosted on AWS (SOC 1, 2, & 3 + ISO 27001/27018), Trolley uses end-to-end 256-bit SSL bank-level security, & requires 2FA for all users.
Trolley is privacy-compliant
We know data management best practices and regulations. Did you know, we're GDPR, CCPA, PIPEDA, DPA, & the EU-U.S. Privacy Shield Framework compliant?
Trolley is backed by top investors
We're backed by some big names in FinTech. Trolley's investors include former PayPal President Scott Thompson and investment firms Pace Capital & GreenSky Capital Inc.
Payments run smoother with Trolley
Don’t just take our word for it, check out how much our customers love Trolley.
