Regulatory Analysis


 
Posted December 2, 2022 by Enis Gencer
Greece: The extension of deadline for the accounting data of wholesale transactions

The Greek Tax Authority, IAPR, published a press release on 1 November, announcing the extension of the deadline until 31 December 2022 for the transmission of accounting data of wholesale transactions, data of invoicing expenses, and self-invoicing income in the cases of discrepancies in the aforementioned transmitted data.

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Posted December 2, 2022 by Marta Sowińska
Serbia: Draft Law on Amendments to the Law on Value Added Tax

As previously announced, the Serbian Minister of Finance published the Draft Law on Amendments to the Law on Electronic Invoicing on the 9th of November, alongside the Draft Laws on Amendments to the Law on Value Added Tax, Law on Fiscalization, and Law on Tax Procedure and Tax Administration. The changes introduced to the Law […]

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Posted December 2, 2022 by Marta Sowińska
Serbia: Draft Law on Amendments to the Law on Fiscalization

The Serbian Minister of Finance (MoF) published the draft Law on Amendments to the Law on Fiscalization. The Law of Fiscalization regulates the so called “Fiscalization”, which is the procedure of fiscalization of the content of the fiscal account through an electronic fiscal device. The amendments to the Law on Fiscalization impacting the future e-invoicing […]

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Posted December 2, 2022 by Marta Sowińska
Poland: draft legislation published amending the VAT Act and adopting mandatory e-invoicing via KSeF

On the 1st of December the Ministry of Finance published draft legislation amending the Act of 11 March 2004 on tax on goods and services (Journal of Laws of 2022, item 931, as amended) – hereinafter referred to as the “VAT Act” regarding the introduction of mandatory invoicing in the National e-Invoice System (KSeF) hereinafter […]

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Posted December 2, 2022 by Enis Gencer
MyDATA: Penalties regarding Electronic Tax Mechanisms (F.I.M)

On 21 September, the Greek Parliament passed a bill introducing penalties for non-compliance with rules requiring taxpayers to transmit retail sales data issued via the Information System of Electronic Tax Mechanisms (F.I.M). According to Article 54H of the Tax Procedures Code, IAPR will impose the following penalties for non-transmission of the receipt summary to the […]

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Posted December 2, 2022 by Andres Landerretche
Mexico: CFDI version 3.3 can be used until 31 March 2023

The SAT published the Second Anticipated Version of the Tenth Resolution of Modifications to the Miscellaneous Tax Resolution for 2022 which establishes the possibility of issuing CFDI in its version 3.3 and the CFDI that covers withholdings and payment information in its version 1.0, until March 31, 2023. The foregoing is also applicable to the […]

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Posted December 2, 2022 by Stephanie Melhem
Singapore Standard Rate Increase effective 1 January 2023

Singapore’s Parliament passed a bill increasing the goods and services tax by 1 percent. The standard GST rate will be increasing to 8% from 7% effective January 1, 2023. The amendment bill can be found here.

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Posted December 2, 2022 by Stephanie Melhem
Uzbekistan Standard VAT Rate Decrease effective 1 January 2023

The Uzbekistan State Tax Committee issued a Press Release on September 19, 2022, regarding changes in the VAT rates as per the head of state. The standard VAT rate will be decreasing to 12% from 15% effective January 1, 2023. The press release can be found here.

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Posted December 2, 2022 by Alec Webb
The IRS has published the 2022 ACA 1094-B, 1094-C, 1095-B and 1095-C Forms

The IRS recently released updated ACA forms, 1094-B: Transmittal of Health Coverage Information Returns, 1095-B: Health Coverage, 1094-C: Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns and 1095-C: Employer-Provided Health Insurance Offer and Coverage Below is a summary of the substantial changes: 1095-B and 1095-C – Instructions regarding individuals who do not have the […]

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Posted December 1, 2022 by Jesse Rooney
Rhode Island Extends Insurance Mandate Deadlines

Rhode Island has announced an extension of it’s insurance mandate filing deadlines.  Filers will now need to provide forms 1095-B and -C to recipients by March 1 annually.  In addition, the state is extending it’s insurance mandate filings deadline to March 31 annually.  These changes align the state’s filing deadlines with those of the federal […]

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Posted December 1, 2022 by juliaolienyk
Arkansas Releases W-2 and 1099 Specifications for 2022

Arkansas recently published specifications for W-2 and 1099 filing with the state. Besides year updates to 2022, there were no other substantive changes. The due date for filing W-2 and Forms 1099 is January 31, 2023. To view the updated specifications, click here.

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Posted December 1, 2022 by Alec Webb
Georgia Releases 2023 Employer’s Withholding Tax Guide

Georgia has released it’s 2023 Employer Withholding Tax Guide. The relevant year and withholding due dates have been updated in the guide to reflect accurate dates in 2023. There are no substantial content changes to the Employer Withholding Tax Guide when compared with its previous release in January 2022. Please see the landing page for […]

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Posted December 1, 2022 by Jesse Rooney
IRS Releases Publication 1187 for Tax Year 2022

The IRS has released Publication 1187 for tax year 2022.  This document provides electronic specifications for filing Form 1042-S with the IRS. There are no fundamental changes to the electronic specifications themselves, but there are a few notable changes to ancillary information. Filers who have FIRE transmitter control codes (TCCs) that were applied for earlier […]

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Posted December 1, 2022 by Alec Webb
North Carolina releases 2022 Form 1099 File Layout Specifications and Form 1042-S File Layout Specifications

North Carolina has released its File Layout Specifications for Forms 1099 and 1042-S for tax year 2022. The documents were updated with dates for the 2022 tax year. On the 1099 File Layout Specification, the location for field specification 711-722, “State Income” has changed from Box 17 to Box 18 of 1099-MISC. On both 1099 […]

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Posted December 1, 2022 by Alec Webb
Nebraska Releases Updated 501N for Tax Year 2022

Nebraska recently updated form 501N for tax year 2022. Form 501N is for Nebraska Monthly Income Tax Withholding Deposit. There were no substantive changes from the 2021 version. To view Form 501N, click here.

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Posted November 30, 2022 by Andrew Decker
End of New York Fuel Tax Holiday

Since June, New York has implemented a Fuel Tax Holiday. This holiday exempted sales of motor fuel and diesel motor fuel from New York state sales and use tax and suspended the prepaid sales tax and several fuel excise taxes. The exemption also extended to the Metropolitan Commuter Transportation District’s sales and use taxes. The […]

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Posted November 30, 2022 by Victor Duarte
Spain: Updated technical documentation for the SII

The AEAT updated the technical documentation for the SII. Changes introduced by the new documentation will be in force in the production environment from 1 January 2023. Among the changes, the value AJ was added to the ledger of issued invoices for adjustments of the benefit’s margin and new validations and errors associated with this […]

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Posted November 28, 2022 by Christopher Branch
IVASS Management Fee

The Institute for Insurance Supervision (IVASS) in Italy has published the management charge rate for the year 2023. It set the rate for 2023 at 4.26%. The management charge reduces the taxable basis applied to the Road Accident Victims Fund (RAVF) and Hunting Accident Victims Fund (HAVF) and is published annually in November.

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