From 1 January 2024, EU member states will start to impose reporting requirements on payment services providers (PSP’s) relating to their sellers’ activities.
PSP’s are third-party companies that allow businesses to accept electronic payments. These companies tend to be credit card, bank and online payment providers, and they act as intermediaries between those who make payments (customers) and those who accept the payments for a supply (suppliers).
- PSP’s reporting and record-keeping requirements
- EU member states that have already adopted these changes
Source: FiscalSolutions
Latest Posts in "European Union"
- EU Import VAT Deferment: A Strategic Tool Amid Reciprocal Tariff Challenges
- EU Commission Reveals Plan to Implement VAT in the Digital Age (ViDA) Reform
- EU ViDA Implementation: Potential Risks and Pitfalls
- Briefing document & Podcast: ECJ C-436/24 (Lyko) VAT on Loyalty Programs
- AI Transforms VAT/GST Compliance Worldwide: What Companies Need to Do to Keep Pace
