CESOP – new EU wide VAT record keeping and transactional reporting obligations for PSPs

A new EU legislative package will, as of 1 January 2024, require payment service providers (‘PSPs’) providing services covered under Directive (EU) 2015/2366 (‘PSD II’) to keep a record of payment transactions and to report this to the tax authorities of EU Member States through a Central Electronic System of Payment information (‘CESOP’).

Source Deloitte

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