New measures to fight VAT fraud on online sales

The European Commission has introduced new measures to combat VAT fraud in online sales, effective from January 1. These include the establishment of a Central Electronic System of Payment Information (CESOP) to enhance the detection and prevention of VAT fraud by facilitating the sharing and exchange of payment data among Member States. The initiative aims to address the significant VAT Gap in the EU, which stood at €61 billion in 2021, by improving cooperation and information exchange regarding online sales transactions​.

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Categories: cesop