CESOP

New reporting obligation for payment service providers

Banks and payment service providers are faced with new requirements in connection with cross-border e-commerce. Supervision aims to achieve transparency regarding certain payments and their recipients, mainly with the aim of preventing tax fraud in e-commerce. The obligation to record and transmit cross-border payments of CSPs is based on a legislative package adopted by the European Council on February 18, 2020. From January 1, 2024, payment service providers (PSPs) must record certain cross-border payments and transmit them to the Federal Central Tax Office (BZSt) on a quarterly basis. The national legal basis for CESOP (Central Electronic System of Payment Information) is anchored in Section 22g - Special obligations for PSPs and was implemented within the Annual Tax Act 2022 in the area of VAT. In this context, CESOP serves as a central data collection point for information on cross-border payments and also offers the possibility of a comparison with other European databases.

Find out more on our overview page for EFDIS.CESOP and the CESOP solutions offered by CPB.

Share this page

Contact

What can we do for you?

Feel free to contact us!

Please calculate 6 plus 3.