- CESOP (Central Electronic System of Payment information) is a new tool for controlling VAT payments in the EU
- It was implemented on January 1, 2024, to combat tax fraud and abuse at a supranational level
- Payment service providers in the EU must monitor recipients of cross-border payments and report those who receive more than 25 payments per quarter to tax authorities
- The information will be stored in the CESOP database and shared with experts from EU member states through Eurofisc
- There are concerns about the burden CESOP places on payment service providers and the increased risk of tax audits for e-commerce sellers
- The National Revenue Strategy includes integration with CESOP from 2024 to 2030
- It remains to be seen how EU tax authorities will evaluate PSP efforts in managing CESOP and whether they will penalize missed data submissions.
Source: news.dtkt.ua
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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