Malta Implements CESOP Directive: Reporting Requirements for Payment Service Providers

• Malta has transposed the CESOP Directive into the Value Added Tax Act
• Payment service providers (PSPs) with Malta as their home or host Member State must register with the Malta Tax and Customs Administration (MTCA) for CESOP
• PSPs must keep detailed information on payees and payments and submit quarterly detailed information to the Malta Commissioner for Tax and Customs
• Qualifying cross-border payments must be reported when there are more than 25 payments to the same payee
• Information must be submitted in a standardised XML format by the 28th day of the month following the calendar quarter
• Failure to submit information or notifications on time may result in administrative penalties or fines
• The MTCA will issue guidelines for CESOP reporting
• PSPs need robust reporting tools to comply with the reporting requirements.

Source: pwc.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.

---

---