Central Electronic System of Payment Information (CESOP)
With effect from 1 January 2024 payment service providers who are established or provide payment services in the European Union are to keep certain records of cross-border payments originating from payers within Member States and certain information of the payees, and transmit those records to the Member States for the fight against value added tax (VAT) fraud (Council Directive 2006/112/EC, as amended by Council Directive (EU) 2020/2843).
Pursuant to Regulation (EU) No 904/2010, as amended by Council Regulation (EU) 2020/2834, Member States are to transmit those records to a central electronic system of payment information (‘CESOP’).
After two years of fruitful cooperation with payment services providers and the Member States, the European Commission adopted on 6 April 2022 a Commission Implementing Regulation ,which provides essential details for payment service providers on how to report the payment data in a harmonised format.