TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

European Council announces new measures to fight VAT fraud

The European Council has approved new measures to transmit and exchange payment data in order to fight e-commerce VAT fraud by launching a Central Electronic System of Payment information (CESOP).

According to the European Council, by 2024 CESOP will keep records of cross-border payment information within the EU, as well as payments to third countries, for a period of five years.

The aim is to allow tax authorities to properly control the correct fulfilment of VAT obligations on cross-border Business to Consumer (B2C) supplies of goods and services.