Malta Introduces Regulations to Combat VAT Fraud by Payment Service Providers

• Malta has published regulations for new reporting obligations for payment service providers to combat VAT fraud.
• The regulations transpose Article 1 of Council Directive (EU) 2020/284.
• The regulations aim to enhance the reporting obligations of payment service providers.
• The regulations require payment service providers to submit certain information to the Maltese tax authorities.
• The information will be used to combat VAT fraud and ensure compliance with tax regulations.
• The regulations also specify the format and timing of the information to be submitted.
• Non-compliance with the reporting obligations may result in penalties and sanctions.

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.

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