Value Added Tax Consolidation Act 2010 section 85H

Retention and transmission of information by Revenue Commissioners

Section 85H sets out the period for which Revenue must retain payment information reported by payment service providers, and the requirement on Revenue to transmit that information to the EU's central electronic system of payment information (CESOP).

• Revenue must retain all payment information received from payment service providers for a period of five years from 31 December of the year in which the information was transmitted to them.
• Revenue is obliged to transmit the reported information to CESOP on a quarterly basis.
• The quarterly transmission must be made no later than the tenth day of the second month following the calendar quarter to which the information relates.
• These requirements form part of the wider EU framework for cross-border VAT monitoring and compliance through the sharing of electronic payment data.