It will be active from 1 January 2024 The Central Electronic System of Payment Information (CESOP) to combat transnational VAT fraud in e-commerce
New European measures to combat cross-border VAT fraud in e-commerce will come into force in 2024, with reporting and record-keeping obligations for payment service providers.
The obligations
Storage and management of the register : The information must be retained by the PSP in electronic format for a period of three calendar years from the end of the calendar year corresponding to the date of payment.
Communication : in xml, the transmission channel has not yet been decided. The commitment is triggered if, during a calendar quarter, a payment service provider provides payment services corresponding to more than 25 cross-border payments to the same beneficiary.
A new obligation that adds to the already dense network of information due to the authorities which, in this specific case, includes identification data of the payment service provider, the beneficiary, geographical data and details of the payment data.
How can we help you?
Sign up for our online Workshop " New CESOP reporting obligation " - Tuesday 9 May 10.30am -1pm
We will examine the salient aspects and critical points of the legislation and illustrate the guidelines of the solution we are implementing.
Write to us at info@smouse.it to receive instructions for participating in the workshop.
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