From the beginning of 2024, payment service providers, such as banks, money transfer companies, some online trading platforms, etc., will be obliged to report to the NRA the cross-border payments they process to merchants (e-commerce). For this purpose, these intermediaries will have to keep records of the payments that pass through them, as well as of the recipients of the transfers. Payment service providers will submit data on sellers who have received 25 or more cross-border payments in three months.
The data collected by the revenue agency will be sent to the Central Electronic System for Information on Payments, where it will be processed and stored. Data on cross-border payments will be reported every three months, and information about them will be submitted in the month following the quarter to which they relate. The first reporting is for the period January-March 2024 and should be made from 1 to 30 April 2024. You can read more at NRA.
