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the making
this Statutory Instrument was published in “Iris Oifigiúil”
22nd December, 2023. I, MICHAEL MCGRATH, Minister for Finance, in exercise
the powers conferred on me by section 3
the European Communities Act 1972 (No. 27
1972), and for the purpose
giving further effect to Council Directive 2006/112/EC
28 November 20061 , as amended by Council Directive (EU) 2020/284
18 February 20202 , hereby make the following regulations:
2010) is amended by the insertion
the following Part after Part 9: “PART 9A REPORTING OBLIGATIONS
CERTAIN PAYMENT SERVICE PROVIDERS Interpretation 85A.
the SEPA Regulation; ‘cross-border payment’ shall be construed in accordance with section 85B; ‘home Member State’ has the same meaning as it has in point
the Payment Services Directive; ‘host Member State’ has the same meaning as it has in point
the Payment Services Directive; ‘IBAN’ has the same meaning as it has in point
the SEPA Regulation; ‘payee’ has the same meaning as it has in point
the Payment Services Directive; ‘payer’ has the same meaning as it has in point
the Payment Services Directive; ‘payment account’ has the same meaning as it has in point
the Payment Services Directive; ‘Payment Services Directive’ means Directive (EU) 2015/2366
the European Parliament and
the Council
25 November 20153 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC; ‘payment service provider’ means any
the categories
payment service providers listed in points (a) to (d)
the Payment Services Directive or a natural or legal person benefiting from an exemption in accordance with Article 32
that Directive; ‘payment service’ means any
the business activities set out in points
Annex I to the Payment Services Directive; ‘payment’ means, subject to the exclusions provided for in Article 3
the Payment Services Directive, a ‘payment transaction’ as defined in point
that Directive or a ‘money remittance’ as defined in point
that Directive; ‘SEPA Regulation’ means Regulation (EU) No 260/2012
the European Parliament and
the Council
14 March 20124 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009, as amended by Regulation (EU) No 248/2014
the European Parliament and
the Council
26 February 20145 .
the VAT Directive, has unless the context otherwise requires, the same meaning in this Part as it has in that Section
the VAT Directive. Meaning
‘cross-border payment’ 85B.
this Part, a cross-border payment is a payment in respect
which – (
subsection
a payer shall be considered to be in the Member State corresponding to – (a) the IBAN
the payer’s payment account or any other identifier which unambiguously identifies, and gives the location
, the payer, or (b) in the absence
an identifier referred to in paragraph (a), the BIC or any other business identifier code that unambiguously identifies, and gives the location
, the payment service provider acting on behalf
the payer.
subsection
a payee shall be considered to be in the Member State corresponding to – (a) the IBAN
the payee’s payment account or any other identifier which unambiguously identifies, and gives the location
, the payee, or (b) in the absence
an identifier referred to in paragraph (a), the BIC or any other business identifier code that unambiguously identifies, and gives the location
, the payment service provider acting on behalf
the payee. Requirement to keep records 85C.
the payees and payments relating to the payment services they provide for each calendar quarter.
cross-border payments.
a calendar quarter, that payment service provider provides payment services corresponding to more than 25 cross-border payments in respect
the same payee.
subsection
cross-border payments shall be calculated by reference to the payment services (including any payment services referred to in subsection
section 85B. (b) Where a payment service provider has information that a payee has more than one identifier, as referred to in subsection
section 85B, the number
cross-border payments shall be calculated per payee.
a payer in respect
a payment where at least one
the payment service providers
the payee is located in a Member State. (b) For the purpose
paragraph (a), the location
a payment service provider
the payee shall be determined by reference to the payment service provider’s BIC or any other business identifier code that unambiguously identifies the payment service provider and the location
the payment provider. Record keeping requirements 85D.
the payee, as it appears in the records
the payment services provider; (c) any VAT identification number or other national tax number
the payee, if available; (d) the IBAN or, if the IBAN is not available, any other identifier which unambiguously identifies, and gives the location
, the payee; (e) the BIC or any other business identifier code that unambiguously identifies, and gives the location
, the payment service provider acting on behalf
the payee where the payee receives funds without having any payment account; (f) the address
the payee as it appears in the records
the payment service provider, if available; (g) details
any cross-border payment in accordance with subsection
any payment refunds identified in relation to the cross-border payment in accordance with subsection
subsection
the payment or payment refund; (b) the amount and the currency
the payment or payment refund; (c) the Member State
origin
the payment received by or on behalf
the payee, as determined in accordance with section 85B; (d) the Member State
destination
any payment refund, as determined in accordance with section 85B; (e) the information used to determine the Member State
origin
the payment referred to in paragraph (c) or the Member State
destination
any payment refund referred to in paragraph (d); (
the merchant. Retention
records by payment service providers 85E. Any records retained by a payment service provider in accordance with section 85C shall be kept in electronic format for a period
3 years from the end
the year
the date
payment. Reporting requirements
payment service providers 85F.
the payment service provider, or (b) a host Member State
the payment service provider, in a case in which the payment service provider provides payment services in Member States other than its home Member State.
2023 )).”. GIVEN under my
ficial Seal, 20 December, 2023. MICHAEL MCGRATH, Minister for Finance. EXPLANATORY NOTE (This note is not part
the Instrument and does not purport to be a legal interpretation.) These Regulations transpose into Irish VAT law Council Directive (EU) 2020/284, which amends Council Directive 2006/112/EC on the common system
value-added tax. With the growth in electronic commerce transactions, the collection and use
data on cross-border payments can be especially useful in the effort to combat VAT fraud across the EU. In this context, Council Directive (EU) 2020/284 introduced new record-keeping and reporting obligations for payment service providers who are established in the EU. The new obligations are part
the arrangements that relate to CESOP: a central electronic system
payment information developed by the EU Commission to collect certain details on cross-border payments as a way
supporting tax authorities in detecting VAT fraud and in investigating suspected such cases. This set
Regulations transposes Council Directive 2020/284 into Irish law by way
inserting new provisions – Part 9A – into the Value-Added Tax Consolidation Act 2010 (No. 31
2010). Under the new provisions, payment service providers who
fer payment services within the EU will have record-keeping and reporting obligations in respect
certain cross-border payments. The obligations arise where they provide payment services in respect
more than 25 cross-border payments to the same payee during a calendar quarter. Regulation 1 gives the title
the Regulations. Regulation 2 provides that the Regulations will come into effect on 1 January 2024. Regulation 3 inserts Part 9A (‘Reporting obligations
certain payment service providers’) into the VAT Consolidation Act 2010. The new Part comprises several sections: Section 85A concerns the interpretation
terms used in the Part; Section 85B provides for the meaning
‘cross-border payment’; Section 85C imposes an obligation on payment service providers to keep detailed records
payees and payments in certain situations. The obligation applies only to payment services in respect
cross-border payments; Section 85D specifies information to be contained in the records; Section 85E requires the records to be kept in electronic format and specifies the period
time for which they are to be retained by the payment service provider; and Section 85F imposes a reporting obligation on payment service providers so that the records are made available to the Revenue Commissioners. These Regulations are the first
two sets
Regulations which transpose EU legal provisions relevant to CESOP into Irish law with effect from 1 January
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