Lithuania Gazettes Order Amending Rule Transposing EU Directive on Reporting for Cross-Border Payment Service Providers

The Lithuanian Official Gazette Dec. 11, 2023, published Order No. VA-93, amending Order No. VA-42, concerning the transposition into domestic rules of EU Directive 2020/284, on payment service provider information reporting requirements to combat VAT fraud in cross-border e-commerce. The current order concerns the calculation of the threshold of 25 international payment transactions, which triggers an obligation for payment service providers to collect and retain the records of international payment transactions and submit data. The order includes a measure requiring a provider to calculate the threshold according to individual recipients if it determines several identifiers are assigned to a recipient. ...