The European Commission has published a list of national portals for reporting to the EU’s new central electronic system of payment information (CESOP). From 1 January 2024, payment service providers established in the EU will be required to transmit information on cross-border payments originating from member states and on the beneficiary of these payments. This information will be centralized in a European database, the CESOP, and will be made available to anti-VAT fraud experts of member states via a network called Eurofisc. The reporting obligation will occur on a quarterly basis, starting from Q1 2024.
Source KPMG
