Principle of Law No. 2/2025: Obligations of Retention and Communication of Information for Payment Service Providers

Legislative Framework: The document discusses the adoption of EU Directive 2020/284 and Regulation 2020/283, which impose obligations on payment service providers to retain and communicate information related to cross-border payments. These measures aim to enhance administrative cooperation and combat VAT fraud.
Implementation in Italy: Italy has incorporated these EU directives into its national legislation through Legislative Decree No. 153 of October 18, 2023, introducing new articles (40-bis to 40-sexies) in the d.P.R. No. 633/1972. These articles outline the definitions, obligations, and criteria for localizing payers and beneficiaries.
Technical and Compliance Aspects: The document specifies that the technical modalities for transmitting payment service information were established by the Italian Revenue Agency’s directive on November 20, 2023. It emphasizes that evaluating the adequacy of collected information is beyond the scope of payment service providers, as this is determined by EU legislation.