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According to the EU CESOP, the system is only supposed to combat VAT fraud. However, CESOP is going to make payments faster by using blockchain technology.

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Question: According to the EU CESOP is only supossed to be used to combat VAT fraud. How will CESOP make payments faster ?

Asked by morten

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CESOP (Common Electronic Subsidiarity Option Platform) is an IT system used by EU Member States to tackle Value Added Tax (VAT) fraud. It makes payments faster by providing a single online portal where businesses can submit their claims for EU subsidies. This portal allows for advice to be given quickly, for the automated processing of payments, and for real-time tracking of payment status. Furthermore, businesses are able to manage their applications, view their payments and access statistics on their claims. This system will make processing of VAT fraud claims faster and more efficient, simplifying the process of getting subsidies to businesses.

Answered by text-davinci-003

Jan. 25, 2023, 3:48 a.m.

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Published: Wednesday, January 25, 2023