DAC7 Reporting

THE BASICS

What is DAC7?
DAC7 is a European Union law that came into effect on 1 January 2023. It requires online marketplaces — like Saatchi Art — to collect and report certain information about sellers who earn income through their platforms. The aim is to improve tax transparency across the EU.

Why is Saatchi Art collecting this information?
As an online marketplace, Saatchi Art is legally required to collect and verify personal and tax details for eligible sellers, and to report this information to the relevant EU tax authorities once a year. This is not optional — it is a legal obligation.

Which artists does this affect?
DAC7 reporting may apply to you if:
          - You are a resident of an EU country, or
          - You have sold works through the Saatchi Art marketplace

Note: Saatchi is only required to report information for EU-resident sellers if they have earned more than €2,000 or completed more than 30 transactions in a calendar year. However, we are required to collect information from all sellers in order to identify who qualifies.

Does this apply to artists outside the EU?
DAC7 primarily targets EU-resident sellers. However, because Saatchi Art is obligated to verify the residency of all sellers, we are required to request information from all artists on our platform — regardless of where you are based.

YOUR DATA

What information do you need from me?
We need the following information from you:
          - Your full home address
          - Your date of birth
           - Your Tax ID number (for example: Social Security Number, National Insurance Number, or your country’s equivalent)
          - If you do not have a Tax ID: your place of birth
          - Business Registration Number (if applicable)

Is my personal information safe?
Yes. All information you provide is stored securely and handled in full accordance with our Privacy Policy and Terms & Conditions. Your data is only shared with the required EU tax authorities if required..

Who will my information be shared with?
Your information will only be reported to the EU tax authorities as required by law. 

Is the form I need to fill in secure?
Yes. We use a secure, encrypted form to collect your information. If you are unsure whether a form link you received is genuine, please email our support team to verify the form request.

WHAT TO DO

What happens if I do not submit my information?
If we do not receive your information by the deadline, we are required to delete your account. We do not want to do this --  please complete the form as soon as possible to keep your account active.

I don’t have a Tax ID number. What should I do?
If you do not have a Tax ID number, simply provide your place of birth instead. The form will ask which applies to you and guide you accordingly.

I have already submitted the form. Do I need to do anything else?
No. Once you have submitted the form, you are done. You will receive a confirmation by email. If you need to make a correction, please email us directly at support@saatchiart.com.

TAX & MONEY

Does DAC7 mean I will pay more tax?
No. DAC7 is an information reporting requirement for Saatchi Art only. Your tax liability is determined by the tax laws in your own country — DAC7 does not change that. If you have specific questions about your tax situation, we recommend speaking with a qualified tax adviser in your country.

I am worried about my tax position. What should I do?
We understand this may feel unfamiliar. We recommend speaking with a qualified tax adviser or accountant in your country if you have concerns about how your income from Saatchi Art is treated for tax purposes. Saatchi Art is not able to provide tax advice.