Plenary Session: Requirements for payment service providers

Requirements for payment service providers (A9-0048/2019 - Lídia Pereira)

I voted in favour of these proposals from the European Commission, in line with the European Greens, fully supporting the objective of combating online VAT fraud.

The total loss of VAT revenue in the Member States, in the supply of goods across borders, is estimated at € 5 billion annually. As more than 90% of online purchases are made through credit transfers, payment domiciliation and credit card payments, we support the obligation of these payment service providers to keep information on all payments, so that the tax authorities verify that VAT has actually been paid on these transactions.
In addition to the original proposals being already quite good, the Greens managed to include two changes that make the legislation even more effective, by guaranteeing a threshold of € 2500, above which all transactions must be registered, and that this registration must be available to the authorities for at least 3 years (the original proposal was only 2 years).

Share this post