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ARTICLE · 18 DECEMBER 2023

PSPs: Malta Transposes New EU CESOP Directive

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On the 1st of January 2024, Legal Notice 272 of 2023 – Value Added Tax (Reporting Obligations for Payment Service Providers) Regulations, 2023 will come into force.

MaltaTax
Gaby Zammit
Gaby Zammit
Sascha Genovese
Sascha Genovese
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On the 1st of January 2024, Legal Notice 272 of 2023 – Value Added Tax (Reporting Obligations for Payment Service Providers) Regulations, 2023 will come into force. This legal notice transposes the EU CESOP Directive (2020/284) which introduces new reporting obligations for PSPs through the Central Electronic System of Payment Information (CESOP) into Maltese VAT legislation.

PSPs whose home or host Member State is Malta (including foreign PSPs passporting into Malta) and provide payment services in accordance with the criteria set out under the Regulations have to notify the Commissioner for Tax and Customs ("Commissioner"), who, in turn, has a duty to report this data to the European database – the CESOP. Any PSP established in Malta or has Malta as its host member state has to notify the Commissioner by applying to be registered as a PSP within 25 days from the 1 January 2024 or the date Malta becomes the home or host member state of the PSP, whichever is

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