Regulatory Analysis

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Posted June 18, 2021 by Bradley Feimer
Colorado Enacts Law Enabling Restaurants, Caterers, and Bars to Retain Sales Tax for Assistance

Colorado Governor Jared Polis recently signed HB 21-1265 allowing a temporary deduction from state net taxable sales for qualifying retailers including, restaurants, caterers, and bars, so that they may retain the sales tax collected as assistance for revenue losses suffered from the pandemic. The bill is effective from June 2021 through August 2021. Further information, […]

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Posted June 18, 2021 by Gabriel Pezzato
Brazil NFe: Schema of the NT 2021.001 published

The schema of version 1.00 of the NT 2021.001 has been published. The NT 2021.001 introduces the new NFe event “proof of delivery of the NFe”. The event registers a proof of delivery of the supply to its recipient, and can be used from 22 June 2021.The schema of version 1.00 of the NT 2021.001 […]

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Posted June 18, 2021 by Paul Ogawa
New Mexico Releases Revised Withholding Forms

New Mexico has released two new withholding forms and related instructions. Beginning July 1, 2021 form TRD-41414 is the new wage withholding tax return and form TRD-41409 is the new non-wage withholding tax return. These forms replace the prior CRS-1 semi-annual withholding return form. Where CRS-1 was previously used to report either wage or non-wage […]

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Posted June 18, 2021 by Alexander Dunn
Kansas Changes DtC Wine Compliance Requirements Effective Immediately

Kansas Governor Laura Kelly signed HB 2137 into law on May 19, 2021, making several critical changes relating to the DtC shipping of wine impacting fulfillment houses and DtC Sellers. These changes are immediately effective. Kansas requires both in-state and out-of-state fulfillment houses to register and received a Fulfillment House License. Each location of the […]

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Posted June 18, 2021 by Bradley Feimer
Denver, Colorado Plastic Bag Fee Effective July 1, 2021

Beginning July 1, 2021, the city of Denver, Colorado will impose a $0.10 fee on disposable plastic and paper bags. The fee is not included as a part of the taxable sales price and will be used to help educate customers through information programs and provide free reusable bags. The bag fee was originally set […]

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Posted June 17, 2021 by Selin Adler Ring
Turkey: New Requirement to Notify the TRA about Objection Requests

The Turkish Revenue Administration (TRA) has published updated guidelines on the cancellation and objection of e-fatura and e-arsiv invoices. Two different guidelines are updated: the guidelines on the notification of cancellation and objection of e-fatura, and the guidelines on the notification of cancellation and objection of e-arsiv. The updated guidelines aim to inform taxable persons […]

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Posted May 27, 2021 by Alexander Dunn
Florida Enacts Trio of Sales Tax Holidays for 2021

Pursuant to Governor DeSantis signing FL HB 7061, Florida will now have three Sales Tax Holidays in 2021.  The Disaster Preparedness Sales Tax Holiday will be held between May 28, 2021 and June 6, 2021, giving shoppers the opportunity to purchase certain disaster and emergency supplies free from state sales tax when the cost per […]

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Posted May 12, 2021 by Selin Adler Ring
Russia is introducing partially mandatory e-invoicing from 1 July 2021

Russia is introducing a new system for traceability of certain goods that will come into effect on 1 July 2021. Federal Law No. 371-FZ will amend the Russian Tax Code to introduce the new procedure for the traceability system, which will bring with it the introduction of mandatory e-invoicing for taxpayers dealing with traceable goods. […]

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Posted May 11, 2021 by Danielle Herring
Washington Department of Revenue Rolls out New Website

The Washington Department of Revenue has rolled out a new website to make reporting and claiming of property easier. The new website, claimyourcash.org, has features to simplify the claims process: Claims that meet a certain criteria can now be fast tracked and processed within 5 days. The website has a mobile friendly design to make […]

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Posted May 11, 2021 by Danielle Herring
Tennessee Passes Bills to Amend Existing RUUPA Law

Enacted by signature of the Governor and effective April 28, 2021. These are companion bills with identical wording. These bills make changes to the state’s existing law. The bills can be found here. The amendments to the law will change the date used to determine when property held in a pension or retirement account that […]

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Posted May 11, 2021 by Danielle Herring
Indiana Passes Bill to Follow RUUPA

Enacted by signature of the Governor on April 29, 2021 and effective July 1, 2021. Due to the cut-off date for the fall cycle, and the lack of a “transitional provision,” this bill will not change holders’ obligations for reporting in 2021. As previously highlighted, this RUUPA bill will replace the state’s existing law. The […]

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Posted May 11, 2021 by Joanna Hysi
Germany: Dialogue about the introduction of CTCs

The German Bundesrechnungshof (Federal Audit Office), which is a independent judiciary body that advises various government bodies through non-legally binding recommendations, recently proposed to the Ministry of Finance that a real-time reporting system leveraging blockchain technology would be an efficient system to combat VAT fraud and reduce the VAT loss in Germany which is estimated […]

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Posted May 11, 2021 by Gabriel Pezzato
Portugal clarifies obligations for non-resident companies

The Portuguese tax authority clarified obligations for non-resident companies. In principle, companies that are not resident but have a VAT registration in the country should comply with domestic VAT rules (which includes issuing e-invoices through certified software). The tax authority also clarified other obligations such as circumstances that require or dismiss a VAT registration, indication […]

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Posted April 23, 2021 by Danielle Herring
ND Passes Bill to Follow RUUPA

ND S 2048: Enacted – Variation of the “Revised Uniform Unclaimed Property Act” Enacted by signature of the Governor on April 19, 2021. The bill enacts RUUPA legislation. The bill is effective August 1, 2021. The changes will impact reporting for 2022. The new law has standard RUUPA provisions with a few exceptions. Dormancy for […]

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Posted April 23, 2021 by Paul Ogawa
Michigan Publishes Interest Rate for the Second Half of 2021

The Michigan Department of Treasury recently published Revenue Administrative Bulletin 2021-5, which details the interest rate for underpayments and over payments for the period beginning on July 1, 2021 to December 31, 2021. The interest rate for this period remains unchanged from the first half of 2021, at an annual rate of 4.25%. To review […]

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Posted April 21, 2021 by Danielle Herring
Delaware S 104: Introduced – Unclaimed Property Audit Practices, VDA’s, IRA’s

Introduced April 14, 2021 this bill, if enacted, would become effective on August 1, 2021; with certain provisions applying retroactively to any claims, examinations, or litigation pending as of the effective date. This proposed bill covers three areas: audit practices, Voluntary Disclosure Agreements (VDA’s) and Individual Retirement Accounts (IRA’s). If passed this bill would expand […]

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Posted April 21, 2021 by Danielle Herring
Delaware S 103: Introduced – Unclaimed Property Virtual Currency

Introduced April 14, 2021 this bill, if enacted, would become effective on August 1, 2021. This bill would add provisions to the Delaware Unclaimed Property Act specifically requiring the reporting and remittance of virtual currency. DE S 103 defines virtual currency as a digital representation of value, including cryptocurrency, that does not have legal tender […]

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Posted April 21, 2021 by Danielle Herring
Colorado S 121: Enacted – Modifications to the “Revised Uniform Unclaimed Property Act”

Enacted and effective by signature of the Governor on April 15, 2021. The bill makes multiple changes to the Revised Uniform Unclaimed Property Act (the “Act”). This bill provides a specific definition of Financial Organization Loyalty Cards and exempts such items from the definition of Property under the Act. CO S 121 also removed two […]

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