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European Commission Provides New Guidelines for Payment Information System for Payment Service Providers to Fight VAT Fraud

|Approved Changes|European Union
European Union

The European Commission has published new guidelines for the central electronic system of payment information (CESOP). As previously reported, CESOP was created as part of a package adopted in 2020 on mandatory transmission and exchange of VAT-relevant payment information, including new rules for the collection of payment information from payment service providers for the detection of VAT fraud in cross-border e-commerce transactions. The new rules for the transmission of data apply from 1 Ja…

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