As part of the vdb Forum 2024, Joachim Dorschel, Managing Partner at DPS, shed light on the professional and technical challenges involved in implementing the EU reporting obligations to combat VAT fraud (CESOP).
With the Central Electronic System of Payment Information (CESOP), an obligation to report payment transactions on an individual transaction basis was introduced for the first time at the start of 2024. Joachim Dorschel explained the complex challenges on the way to CESOP compliance to the bank representatives in attendance – including the merging of different payment types, the necessary cross-account aggregation and the processing of messages from the German Federal Central Tax Office (BZSt).
With the CESOP Compliance Service (CCS), he then presented an efficient solution for banks and payment service providers (PSPs) to fulfil the new regulatory obligations.
The vdb Forum, organised by payment service provider van den Berg, is an annual meeting place for the local banking and payment industry. The event took place on 9 April 2024 in Frankfurt.
