CESOP Compliance Service
The CESOP Compliance Service ensures timely and legally compliant implementation of the reporting requirements of payment service providers according to the national VAT Acts.
The implementation of the Central Electronic System of Payment Information (CESOP) marks a paradigm shift in European payment transactions: for the first time, reporting obligations are introduced on an individual transaction basis.
From 1 January 2024, certain cross-border payments must be recorded and transmitted to the tax authorities. The scope of application includes PSPs such as banks, specialised banks, savings banks, e-money institutions and marketplaces.
With the CESOP Compliance Service, we offer a complete solution for meeting the new requirements – with the following features, among others:
- Simple connection of the transaction and core banking systems
- Identification of relevant transactions
- Documentation of data subject to record-keeping requirements
- Reporting to the tax authorities
- Processing of response messages
- Correction and resubmission facility
For further details, please see our product brochure CESOP Compliance Service.
You can also read an interview with our Product Owner Tobias Münsterberg.
Are you interested in our CESOP Compliance Service?
Is our CESOP Compliance Service of interest to your bank? Please feel free to contact us. We will answer your questions about a timely implementation.
