- The Value Added Tax (Reporting Obligations for Payment Service Providers) Regulations, 2023 have been published in the Gazetta tal-Gvern ta.
- These regulations transpose the provisions of Council Directive (EU) 2020/284 and aim to combat VAT fraud.
- Payment service providers are required to keep detailed information of payees and payments and submit it to the Commissioner.
- The regulations will come into force on January 1, 2024.
- The document provides definitions for terms such as “BIC,” “CESOP,” “home Member State,” “host Member State,” “IBAN,” “payee,” “payer,” and “payment.”
Source: eur-lex.europa.eu
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
