- CESOP is a new tax reporting requirement for regulated payment service providers (PSPs) in the EU
- PSPs must monitor payees in relation to cross-border payments and report payment data to tax authorities
- 5 key considerations for PSPs to successfully navigate and manage CESOP requirements: 1. Determine if you are in or out of scope 2. Understand if a cross-border payment is reportable 3. Consider differences when acting as payer’s PSP or payee’s PSP
Source: twobirds.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.
Latest Posts in "European Union"
- Boehringer Ruling: Could £2.5bn VAT Reclaims Transform UK Pharma and Healthcare Forever?
- CJEU Rules Spain Cannot Restrict VAT Exemption for General Services to Independent Groups’ Members
- Overcoming VAT Number Validation Challenges: Ensuring Compliance, Data Integrity, and Audit Readiness for Tax Teams
- EU Initiates Legal Action Against States Over Failure to Implement DAC8 and DAC9 Tax Directives
- EU to Impose 3 Euro Duty Per Item on Low-Value Non-EU Parcels from July 2026
