Harvesting payment data for fiscal purposes: The EU’s Central Electronic System of Payment Information

Sabine Weber and Albrecht Wallraf
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Sabine Weber: Association of German Banks, Germany
Albrecht Wallraf: Associate Director, Association of German Banks, Germany

Journal of Payments Strategy & Systems, 2023, vol. 17, issue 4, 372-380

Abstract: Tax authorities in the European Union are to be given a new tool in the fight against VAT fraud: starting in 2024, payment service providers will be obliged to report substantial amounts of data on cross-border payments, to be pooled in and made accessible through the upcoming Central Electronic System of Payment information (CESOP). This paper discusses the underlying economic and fiscal motivation and outlines the legal and procedural setup of CESOP. This is then reflected by implementation requirements and challenges from the perspective of banks and other payment service providers. The paper concludes with a critical discussion of the legal framework, with particular reference to the interlinking of European payment and tax law that underpins CESOP, and an outlook on possible policy developments.

Keywords: CESOP; payment data; value-added tax; VAT; tax fraud; regulatory reporting (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2023:v:17:i:4:p:372-380

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