4. Content of records to be kept by payment service providers and obligation to declare their content

Royal Decree 1171/2023, of December 27, completes the transposition of Council Directive ( EU ) 2020/284 of February 18, 2020, which establishes the obligation for payment service providers to keep sufficiently detailed records of cross-border payments made in which they are involved and to provide this information to the tax authorities, when the payer is located in a Member State and the beneficiary is located in another Member State or in a third country or territory.

Royal Decree 1171/2023, of December 27, introduces the new article 62 ter into the Value Added Tax Regulation, which defines the content of these records that must include:

• The BIC code or any other identifier code, name or company name of the payment service provider and the function it performs on behalf of the beneficiary.

• Name or business name and, if available, NIF-IVA or national tax identification number, email addresses or websites of the beneficiary.

• The number IBAN or any other means of identification that allows the beneficiary to be identified and provided with their location.

• The BIC code or any other identifier code that identifies and provides the location of the payment service provider acting on behalf of the beneficiary when the latter receives funds without having an account.

• Details of cross-border payments or payment refunds (date and time, amount and currency, Member State of origin of the payment or destination of the refund, reference identifying the payment).

Furthermore, Royal Decree 1171/2023, of December 27, introduces the new article 81 bis into the Value Added Tax Regulations, to establish that payment service providers must submit a declaration relating to these records in the month following the corresponding calendar quarter.