CESOP: Communication Obligation for Foreign Transfers also Applies to Payment Service Providers

• CESOP requires communication for foreign transfers
• Foreign transfers made by a payment service provider to pay invoices are subject to communication obligations
• The obligation applies if certain requirements are met (number of cross-border transactions, location of the beneficiary’s payment service provider, etc.)
• The clarification was provided by the Italian Revenue Agency on January 19, 2024.

Source: ipsoa.it

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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