From 1 January 2024, EU member states will start to impose reporting requirements on payment services providers (PSP’s) relating to their sellers’ activities.
PSP’s are third-party companies that allow businesses to accept electronic payments. These companies tend to be credit card, bank and online payment providers, and they act as intermediaries between those who make payments (customers) and those who accept the payments for a supply (suppliers).
- PSP’s reporting and record-keeping requirements
- EU member states that have already adopted these changes
Source: FiscalSolutions
