Finland Tax Agency Clarifies Payment Service Providers Reporting Obligation on Cross-Border Payments

The Finnish Tax Administration Feb. 26 issued Guidance No. VH/7126/00.01.00/2023, clarifying the reporting requirements for cross-border payment service providers (PSPs) under the Central Electronic System of Payment information (CESOP). Topics covered include: 1) the transposition of EU Council Directives 2020/284; 2) the requirement for reporting cross-border payment information to the Tax Agency for customers located in Finland; 3) the requirement to establish a quarterly electronic information reporting requirement for providers; 4) the requirement that PSPs maintain electronic records for three calendar years from the end of the calendar year in which the payment was made; 5) recordkeeping requirements for registered ...