Luxembourg – new reporting obligations for payment services providers

The relevant legislation transposes EU Directive 2020/284 of 18 February 2020 (amending the EU (VAT) Directive 2006/112/EU) and provides for administrative penalties for non-compliance. An EU wide  central electronic system will be set up to allow exchange of information and cross-checks amongst the EU VAT Authorities.  

For more details on the rules please see our article below.

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