- 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.
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