France-EU Directive: Fighting VAT Fraud with Transparent Cross-border Payments

• The EU has implemented the CESOP Directive to combat VAT fraud in cross-border e-commerce.
• The directive requires payment service providers (PSPs) to keep detailed records of cross-border payments and share them with tax authorities.
• PSPs operating in or offering services in France must comply with these obligations.
• PSPs must maintain an electronic register of beneficiaries and payments for three years.
• PSPs must report payment transactions to beneficiaries who have received more than twenty-five cross-border payments.
• The information recorded must be sent to the French tax authorities in a standardized XML file.
• The directive aims to create a fair competitive environment and ensure proper fiscal contribution to public goods and services in the EU.

Source: cyplom.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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