EU: List of national portals for reporting to central electronic system of payment information
A list of national portals of all EU member states for reporting to the EU’s new CESOP
A list of national portals of all EU member states for reporting to the EU’s new CESOP
The European Commission’s Directorate-General for Taxation and Customs on 7 November 2023 published a list of national portals of all EU member states [PDF 419 KB] for reporting to the EU’s new central electronic system of payment information (CESOP).
These national portals will be used for complying with the information reporting requirements for payment services providers, effective 1 January 2024.
Background
Effective 1 January 2024, the EU will require payment service providers established in the EU to transmit information on cross-border payments originating from member states and on the beneficiary ("the payee") of these cross-border payments. The definition of payment service provider for this requirement is broad, potentially including not only EU-based credit, electronic money, post office giro, and payment institutions, but also certain EU-based platforms facilitating sales.
EU payment service providers will need to monitor the payees of cross-border payments and transmit information on those receiving over 25 cross-border payments per quarter to the administrations of the Member States. The information transmitted needs to enable tax authorities to identify potential non-compliant taxpayers and provide an assessment basis, as it includes the payee’s name, value added tax identification (VAT ID) (if available), address (if available), and details of the cross-border payments and any related refunds.
This information will be centralized in a European database, the CESOP, where it will be stored, aggregated, and cross-checked with other European databases. All CESOP information will be made available to anti-VAT fraud experts of Member States via a network called Eurofisc. The reporting obligation will occur on a quarterly basis, starting from Q1 2024, with the first reporting due by 30 April 2024.
KPMG observation
Nonresident digital economy businesses that are not compliant with EU VAT rules could face increased penalties or even criminal proceedings if identified through the new information-sharing mechanism. Read TaxNewsFlash
For more information, contact a KPMG tax professional:
Philippe Stephanny | philippestephanny@kpmg.com
Chinedu Nwachukwu | chinedunwachukwu@kpmg.com
Jochum Zutt I Zutt.Jochum@kpmg.com
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