To detect and combat VAT fraud in cross-border online sales of goods and services (e-commerce), the EU has decided to establish a central European system for collecting and exchanging payment data: the Central Electronic System of Payment Information , CESOP. Payment service providers are expected to provide information on cross-border payments to CESOP. This should make it easier for the various tax authorities to detect possible VAT fraud. The rules apply to sellers located inside and outside the EU. The planned implementation date of the system is January 1, 2024.
On October 24, 2022, the State Secretary of Finance submitted a proposal (Payment Service Providers Directive Implementation Act) for the implementation of CESOP in the Dutch Turnover Tax Act 1968. Below we provide a further explanation of the proposed legislation and we would like to invite you to our webcast on November 9, 2022.
Source: meijburg.nl
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