VATupdate

Share this post on

Transfer of funds without opening an account: when to recognize software with VAT?

  • Transfer of funds without opening an account is a payment service provided to transfer funds in cash or cashless forms to the recipient or payment service provider without using an open account.
  • In this case, there are three participants: the company, the consumer, and the financial institution acting as an intermediary.
  • The payment instruction must contain information to identify the payer and recipient, account numbers, payment amount, and other necessary details for the payment operation.
  • Additional details may be required by the payment system or the provider’s internal rules.
  • In case of remote communication, the payment instruction details can be automatically filled based on the information obtained during the payer’s identification process.

Source: news.dtkt.ua

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.

Sponsors:

VAT news

Advertisements: