The Council of Europe requirement takes effect from 1 January 2024.

  Payment service providers, such as banks, electronic money companies, payment institutions and others, are obliged to submit data to the National Revenue Agency about the cross-border payments processed by them, for which it is necessary to keep an electronic register. This is foreseen by the changes in the VAT Law, promulgated in the State Gazette, number 102/23.12.2022, which will enter into force on January 1, 2024.

 The purpose of the new rules on the collection and reporting of data on cross-border payments related to e-commerce and the introduction of certain requirements for payment service providers is to combat VAT fraud in online sales and to identify online sellers. Payment service providers must enter in the register information about persons who have received 25 or more cross-border payments per quarter, in particular: details of the location and name of the payee, VAT number or other tax number, date, time, the amount and currency of the cross-border payment and others. The NRA will also collect and summarize information on cash flow from payment service providers serving payers when payments are directed to recipients in a third country, the revenue agency specifies. Data on cross-border payments will be reported every three months, and information about them will be submitted to the NRA in the month following the quarter to which they refer.

  The first reporting is for the period January-March 2024 and should be done from 1 to 30 April 2024, the revenue agency reminds. The summary data from the register submitted to the NRA will be sent to the Central Electronic System for Information on Payments (CESOP), where it will be processed and stored at the level of the European Commission.