Watch it HERE
Starting from Q1 2024, all EU Payment Service Providers (PSPs) will be required to report on a quarterly basis the relevant cross-border payments to their local tax authority. The Central Electronic System of Payment information (CESOP) imposes new reporting obligations on PSPs to fight against VAT fraud.
In practice, PSPs must transmit information on cross-border payments originating from Member States and on the beneficiary (“the payee”) of these cross-border payments. This measure aims to detect possible e-commerce VAT fraud carried out by sellers established in another Member State or in a non-EU country.
Listen to our on-demand webinar with tax experts from Regnology, PwC Netherlands as well as ING where we address:
- What is CESOP and what are the reporting obligations?
- What are the implementation updates of CESOP from one country to another?
- What are the edge cases for Non-Cross Border vs Cross-Border?
- What are the challenges and the readiness status of the market players?
Source Regnology
Latest Posts in "European Union"
- Boehringer Ruling: Could £2.5bn VAT Reclaims Transform UK Pharma and Healthcare Forever?
- CJEU Rules Spain Cannot Restrict VAT Exemption for General Services to Independent Groups’ Members
- Overcoming VAT Number Validation Challenges: Ensuring Compliance, Data Integrity, and Audit Readiness for Tax Teams
- EU Initiates Legal Action Against States Over Failure to Implement DAC8 and DAC9 Tax Directives
- EU to Impose 3 Euro Duty Per Item on Low-Value Non-EU Parcels from July 2026
