- The European Commission has released Version 2 of the FAQs for the CESOP, which includes amendments and nuances from the draft FAQs.
- The updated FAQs include changes in the DG TAXUD’s points of view, particularly on nil reporting, determining the location of the payer and payee, and aggregation by PSPs.
- The FAQs can be downloaded, including a Deloitte summary of all questions and answers from both versions.
- The CESOP legislation only requires reporting for cross-border payments, and PSPs should address their national authorities for nil reporting.
- The location of the payer and payee can be determined through different identifiers depending on the payment product used.
- Aggregating payments for threshold calculation is expected to be a best effort obligation for PSPs due to the complexity of reconciling data elements.
Source Deloitte
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