- New reporting obligation for cross-border payment transactions for payment service providers in the EU
- Aim is to reduce VAT fraud in international e-commerce and ensure fair competition for businesses
- Payment service providers must keep records of cross-border payments and report them to the Tax Administration quarterly
- Information will be sent to the Central Electronic System of Payments (CESOP) maintained by the EU Commission
- Deadline for the first CESOP reports is 30.4.2024, covering transactions from 1.1.-31.3.2024
Source: vero.fi
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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