CESOP Regulations published

Regulations transposing the provisions of Article 1 of Directive 2020/284 EC amending Directive 2006/112/EC as regards introducing certain requirements for payment service providers have been published by means of LN 272 of 2023.

The Regulations, which enter into force on 1 January 2024, require payment service providers to keep information of payees and payments in relation to the payment services they provide and to submit such information to the Commissioner for Tax & Customs to enable the competent authorities of Member States to carry out controls of the supplies of goods and services take place in a Member State, in order to achieve the objective of combating VAT fraud.