The 2023 finance law transposes into French law Council Directive (EU) 2020/284 introducing, as from 1 January 2024, a data reporting obligation for PSPs aimed at combatting VAT fraud.
PSPs are required to keep records in relation to cross-border payments and beneficiaries if:
- They have a head office in France or, if they do not have a head office in accordance with their domestic law, they have their central administration in France; or
- They have an agent or branch in France, or provide payment services in France.
Source Deloitte
