Supporting PSPs in their compliance journey
Effective tax reporting solution for smooth CESOP compliance
Effective tax reporting solution for smooth CESOP compliance
CESOP (Central Electronic System of Payment information) aims at detecting possible e-commerce VAT fraud in context of cross-border transactions.
From January 1st, 2024, PSPs – Credit institutions, EMIs, Payment Institutions and Post office giro institutions. – have to report certain cross-border transactions data to their National Tax Administration (NTA), in a specific structure and XML format.
The regulation comprises three main elements and stages:
- PSPs first have to report to their NTA (and to several NTAs if they offer payment services in multiple EU countries) every three months.
- NTAs then transfer this report to the central CESOP system in the next 10 days.
- CESOP returns a feedback on the report’s content with potential actions to be taken to correct the file structure or its content.
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Download the CESOP e-book
This e-book aims at providing you with a comprehension understanding of the CESOP framework!
Easily generate, edit and correct your reports before filing them
Why LUXHUB?
As a compliance solution and payments expert, LUXHUB is well equipped to support PSPs in this upcoming regulatory/compliance challenge.
LUXHUB enables the efficient generation of the CESOP reporting file. Our solution enables PSPs to:
- Check and pre-process input data to ensure that the correct data is being used,
- Filter and convert your cross-border transactions data file,
- Use a web interface to edit/correct the CESOP reporting file before submission to the NTA,
- When possible, automate the transfer of the CESOP reporting file to the NTA,
- Manage efficiently the CESOP feedback file(s) and corrections.
You can choose between two different deployments, either on-premises or as managed services.
By leveraging RegTech expertise and compliance experiences, we firmly believe that we can become your trusted CESOP partner!
By leveraging RegTech expertise and compliance experiences, we firmly believe that we can become your trusted CESOP partner!
CEO, LUXHUB
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Interested in learning more about our CESOP Report Solution?
Don’t be overwhelmed by upcoming regulations and get in touch now to embark on this new compliance journey!