- President Petr Pavel of the Czech Republic signed a law on 14 December 2023 to implement new reporting obligations for payment service providers starting from 1 January 2024.
- This law is based on Council Directive (EU) 2020/284, which requires payment service providers in the EU to monitor cross-border payments and report information on payees receiving more than 25 cross-border payments per quarter to the Member States’ administrations.
- These requirements aim to combat VAT fraud.
Source Orbitax
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