Value Added Tax Consolidation Act 2010 section 85B

Meaning of "cross-border payment"

Section 85B provides for the meaning of "cross-border payment".

• A cross-border payment arises where the payer is located in one EU Member State and the payee is located in a different Member State, a third territory or a third country.
• The payer's location is determined primarily by the IBAN of their payment account, or any other identifier that unambiguously identifies and gives their location.
• Where no such account identifier exists for the payer, location is determined by the BIC or other business identifier code of the payment service provider acting on behalf of the payer.
• The same two-step approach applies to determine the payee's location, using the payee's IBAN or equivalent identifier first, and the BIC of the payee's payment service provider as a fallback.