Introduction of Obligations on Payment Service Providers to Combat VAT Fraud in E-commerce

• Law No. 81/2023 was published on December 28, 2023
• The law transposes Directive (EU) 2020/284 into national law
• The law introduces obligations for payment service providers to combat VAT fraud in e-commerce
• The law defines obligations for payment service providers in controlling VAT transactions
• The law establishes a sanctioning framework for non-compliance or inaccuracies in communication procedures
• The law gives the Tax and Customs Authority powers to verify compliance
• The law includes a new temporary VAT exemption
• The law comes into force on January 1, 2024

Source: espanhaassociados.pt

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