Draft law 8207—implementing the new reporting obligations for payment services providers (PSPs)—was unanimously adopted in a first vote on 19 July 2023.
The EU legal package is constituted by a directive amending the value added tax (VAT) directive and an (updated) regulation.
As part of the PSP legal package, a new European reporting entity is created: the “Central Electronic System of Payment” (CESOP).
Source: KPMG
Latest Posts in "Luxembourg"
- Luxembourg Implements DAC8: Expanding Crypto-Asset Tax Reporting and Upgrading Financial Transparency Standards
- Luxembourg Court Clarifies VAT Deduction for Mixed Holding Companies
- Accelerating VAT Credit Refunds in Luxembourg: Enhancing Cash Flow and Streamlining Tax Processes
- Luxembourg POS and VAT Requirements: No Fiscalization, Flexible Receipts, Standard VAT Compliance
- Luxembourg POS: No Certification, Flexible Receipts, Minimal Regulation, VAT and Consumer Code Apply
