- The European Commission has released new guidelines for the central electronic system of payment information (CESOP).
- CESOP was created as part of a package adopted in 2020 to combat VAT fraud.
- The guidelines aim to improve the collection of payment information from payment service providers for the detection of VAT fraud.
- The system will help in the fight against VAT fraud by providing a centralized platform for the exchange of payment information.
- The guidelines provide instructions on how payment service providers should transmit and exchange VAT-relevant payment information.
Source: orbitax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
