Revenue eBrief No. 333/24
20 December 2024
EU Cross-Border Payments Reporting Requirement for Payment Service Providers
Tax and Duty Manual Central Electronic System of Payment Information (CESOP) has been updated to reflect the amendment in Finance Act 2024.
This provides for a penalty regime for non-compliance by Payment Service Providers (PSPs) with their obligations under Part 9A of the VATCA 2010. These obligations transpose EU reporting obligations for PSPs in respect of certain cross-border payments that they facilitate in the EU.
Consolidation of content has also been undertaken. The legislative changes come into effect on 1 January 2025.