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EU’s New Weapon Against VAT Fraud: CESOP Implementation in Netherlands from January 2024

  • Providers of payment services in EU member states must monitor recipients of cross-border payments
  • Data of account holders receiving more than 25 cross-border payments per quarter will be reported to national authorities
  • Information will be stored in the European database CESOP and shared with enforcement authorities through the Eurofisc network
  • CESOP aims to help tax authorities detect VAT fraud in e-commerce by using payment data
  • Non-compliance can result in significant fines for Dutch payment service providers
  • CESOP has been implemented in the Netherlands as of January 1, 2024
  • Payment service providers must keep accurate records of recipients and payments for each quarter
  • Obligations under CESOP apply to credit institutions, electronic money institutions, payment institutions, and postal cheque and giro services
  • Failure to comply can lead to substantial administrative fines

Source: fiscaalvanmorgen.nl

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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