Sharing economy regulations in Europe and China

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SHARING ECONOMY REGULATION IN EUROPE AND CHINA
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S
Y
N
O
P
S
I
S

• Evolution of sharing economy
• Regulations in Europe
• Business entities or private individuals
• Contractual relationship
• Insurance
• Taxation
• Regulation in member state of Europe
• France
• Belgium
• United kingdom
• Regulations in china

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EVOLUTION

OF

SHARING

ECONOMY

• Sharing economy, it all started when people
  around the world are ready to rent rooms, cars,
  equipments, co-working space to the people who is
  in need.
• It is offering endless possibilities to enjoy the
  benefits like high degree of freedom, easy
  adaption, geographical distribution, and it has
  to be enabled with transparency in security and
  insurance coverage.
• In the future, it will continue to expand and
  evolve with secure technologies as we never
  imagine.
• Lets us see how it is regulated in Europe and
  China

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Regulations in Europe
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E
U
R
O
P
E

• The sharing economy has become an inevitable part
  of the global economy.
• The regulation are acknowledging that this
  economy is increasing and providing new
  opportunities.
• Regulating is not an easy task but it is still
  growing in many ways and european level
  integration will confer many benefits.
• The rise of this economy has grabbed regulatory
  attention in both national and european levels.

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Business

entities or

private

individuals

• Sharing economy growth is changing the face of
  European business as well as many platforms
  around the world.
• At the same time, the fast-growing sharing
  economy is providing personal services on demand
  as well as creating new opportunities.
• The rate of profit growth in this sector will be
  approximately 50 per year.

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CONTRACTUAL



RELATIONSHIP

• This platform is providing a contractual
  relationship by building trust.
• Let us take the example of Uber,
• Uber is providing comprehensive guidance to
  drivers concerning the legal side of
  ride-sharing.
• It guarantees to users in case of emergency and
  expecting this economy will acquire more
  liabilities and regulations.

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INSURANCE

• Major advent of this economy is insurance.
• Let us take an example of Airbnb,
• If someone thrashed your apartment, in case of
  any emergency or any disagreement between
  platform and service provider, Airbnb now
  guarantees to pay for damages at a certain
  amount.

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TAXATION

• Paying tax is important for the business.
• Income from this economy services should be
  declared and taxed because revenue from these
  platforms is escaping the attention of tax
  authorities.
• Avoid paying tax is an endemic problem in Europe,
  hence taxation authorities have found the correct
  way to ensure proper oversight with these income
  streams.

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Regulations in member state of Europe
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F
R
A
N
C
E

• It stands out as an undisputed leading figure in
  the sharing economy. It accounts for EUR 6.5
  billion and approx 75,000 people employed by
  these platform in France.
• The legislative framework in France is flexible
  and supportive of the development of this
  economy.
• With the unexpected growth in France, regulations
  are becoming more tougher and it is expected to
  be a future source of revenue.

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B
E
L
G
I
U
M

• The overall market volume is approximately EUR
  171.6 million with total employment of 2228
  persons. The accommodation sector generated the
  highest revenue with EUR 70.5 million.
• According to the regulation in belgium, all the
  employees can earn revenue upto EUR 5000 per year
  and it is taxed at a rate of 10.
• It is instructing that these platforms are
  responsible for collecting the taxes and
  transaction should take place on the platform
  approved by belgian authorities.

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U
N
I
T
E
D

• Its overall market reach is EUR 4.6 billion and
  the number of employees is estimating at up to
  69, 431 and it is second to france.
• Regulations in UK is as follows,
• Both the service providers and users should act
  honestly and sustain strong relationships in
  building trust.
• Platforms should provide a high level of safety
  for all products and services and also for all
  the business transactions.

K I N G D O M
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Regulations in China
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• Chinas sharing economy is expecting to keep a
  rapid annual growth rate of more than 30 over
  the upcoming years and turnover of chinas
  sharing economy reached 4.9 million yuan (763.5
  billion) and employees were upto 7.16 million.
• It involves,
• The platform should be a registered company with
  legal personality and it should contain safe
  payment solutions with proper payment gateways.
• The platform operators should set up a set of
  internal management rules and should fulfill the
  needs adopted by local authorities.

C H I N A
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