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The new reporting obligation for banks and other payment institutions. What is the purpose of the CESOP system?

Copyright © Deloitte Consultanta - Raluca Baldea & Monica Zipis

The new reporting obligation for banks and other payment institutions. What is the purpose of the CESOP system?

DELOITTE CONSULTANTA SRL

5 Mar 2024

Opinion material by Raluca Baldea, Fiscal Services Partner, and Monica Zipis, Manager, Indirect Taxation, Deloitte Romania

Financial institutions in Romania that provide payment services (banks, issuers of electronic money, postal transfer institutions, etc.) are obliged, starting this year, to monitor and report to the tax authorities data about cross-border payments processed and about their beneficiaries.

For more information, please see the Romanian version of the article, here.

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DELOITTE CONSULTANTA SRL

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Tags : reporting obligation , CESOP system , payment services , banks , issuers of electronic money , postal transfer institutions , cross-border payments processed

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