When New York first passed its law defining what constitutes a “vendor” subject to collecting sales tax in the 1980’s, the idea of online shopping sounded like science fiction. In retrospect, NY may have effectively enacted the first “economic nexus” law when they drafted their definition of “vendor” to include a person who regularly or […]
Small changes lead to big impact for Italian e-invoicing grace period
The Decree 119/2018, first published in draft in late October of this year in Italy, has now been converted into law, but with a number of changes to its content.
The main changes to the previously published version of the e-invoicing rules of this decree are:
- Extension to the grace period for delays in the issuance of e-invoices
- New exemption from the obligation to issue e-invoices
The rolling grace period will be extended until September 2019 for taxpayers who are required to submit their VAT returns and VAT ledgers on a monthly basis. For taxpayers who submit on a quarterly basis, the rolling grace period is extended until June 2019. The grace period also applies to the buyers of the transactions.
For healthcare providers who were already exempt from the e-invoicing obligation in the draft decree, the exemption has now been extended. Healthcare professionals who send data to the national health system for the purpose of pre-filling tax returns are now exempt from issuing e-invoices regarding operations. The exemption is, however, temporarily limited to calendar year 2019.
With recent enforcement measures, the IRS has offered definitive proof that the Affordable Care Act (ACA) is still alive and that the agency plans to strictly enforce ACA reporting. Last spring, the agency issued Letter 226J to Applicable Large Employers (ALEs) that failed to cover 95 percent of employees. ALEs are companies with 50 or […]
UPDATE (Jan. 8): Reporting season is moving forward according to plan. The IRS has announced that it will process tax returns on schedule and without delays. While the agency will clarify its contingency plan in the coming days, organizations should proceed as planned with 1099 reporting and other seasonal filings. The IRS will recall a […]
The South Dakota v. Wayfair decision last June has created a lot of angst for indirect tax professionals and the businesses they work so hard to protect from the burdens of sales and use tax filing. Six months later as we begin the new year, that angst has not gotten any lighter. Any federal legislative […]
2018 was a volatile year in indirect tax compliance for tax, finance and IT professionals worldwide. With an increase in globalization and tax gaps surpassing tens of billions in some countries, it’s not surprising that one of the biggest challenges governments are addressing is revenue collection. Like enterprises, governments are creating new, technology-driven processes to […]