Regulatory Analysis

Two amendments in Croatian law, Fiscalization in Cash Transactions, which were introduced in the last two years came into effect on 1 January 2021. The amendments pertain to: a) the implementation of the fiscalization procedure for sales through the self – service devices; secondary legislation about the process and measures for data security and exchange […]

The Slovakian Ministry of Finance has announced that it is preparing legislation for the introduction of a CTC scheme in the country, following in the footsteps of countries such as Italy, Hungary and Spain. The CTC scheme will require businesses to report invoice data to the tax authority prior to issuing the invoice to their […]

The Polish Ministry of Finance has published a draft act introducing e-invoicing via the national platform (Krajowy System e-Faktur – KSeF, or National System of e-Invoices) in a Continuous Transaction Control (CTC) system. The draft is available for public consultation during a two-week period, after which the law is planned to come into force by […]

District of Columbia recently released its tax year 2020 Specifications for Electronically filing DC Health Care Information Returns. The revision date is listed as 1/15/2021. Several minor changes have been made along with some more impactful ones. The most notable of these changes are detailed below: • Added reminder that no format but pipe-delimited .txt […]

Arkansas recently released its 2021 Withholding Tax Employer’s Instructions, the booklet of information for Employers covering the general range of topics for employers withholding from wages and non-wage compensation. Most of the changes for tax year 2021 are formatting and grammatical in nature, but there are some changes that may affect employers. These changes are […]

The Ohio Department of Taxation recently announced that Form 1099-NEC is required if the form reports Ohio state withholding. Reporting must be done by scanning paper copies and submitting them via e-mail to the Department of Taxation at IncomeStatementsEWT@tax.state.oh.us with the proper identification because the current electronic filing system is not capable of processing electronically […]

Pennsylvania has announced that due to technical issues, it will be extending the filing deadline for forms W-2, 1099, and REV-1667 to February 5, 2021. The e-tides system has experienced significant technical difficulties with the high volume of users attempting to upload large volumes of information at the same time, resulting in the inability for […]

Based on prior year filing requirements relating to nonemployee compensation reporting, North Dakota will require Form 1099-NEC for tax year 2020 going forward. In prior years North Dakota required information returns if the record in question was subject to two conditions: the person resides, owns property, or carries on a trade or business in North […]

Indiana recently released updates to both its W-2 and WH-3 Guide and its W-2G and 1099 Guide which are the specifications for electronic filing. Few changes were made but the most important of these are listed below. Most notable is that all references to the RV record have been removed, and that Indiana states that […]

The California Franchise Tax Board (“FTB”) recently published its January 2021 issue of the Tax News bulletin which outlines certain tax and regulatory updates. In this bulletin the FTB announced a new filing requirement for Form 1099-NEC beginning in tax year 2020. Payers are required to report nonemployee compensation payments on Form 1099-NEC to the […]

The Alabama Department of Revenue recently confirmed by telephone that payers will be required to file Form 1099-NEC with the state in accordance with existing information return filing requirements. Alabama has not updated their guidance to date and is unlikely to do so prior to the state’s due date for 1099 forms. However, Form 1099-NEC […]

Maine recently released its 2021 specifications for electronic transmission of quarterly and amended quarterly withholding. There were a few notable changes to the specifications. The most important of these have been detailed below. Specifications for Electronic Transmittal of Income Tax Withholding • (T) Record o Locations 123-136 Field – Added “Overpayment to be refunded. Line […]

After months of talks, on 24 December 2020, the EU and UK were finally able to agree a new working trade agreement known as the EU-UK Trade and Cooperation Agreement (TCA). The new Trade and Cooperation Agreement came into effect on 1 January 2021 and will be applied on a provisional basis until 28 February […]

The Austrian government has introduced a new bill to extend tax measures to support taxpayers during the Covid-19 pandemic. The VAT measures include the following: The temporary application of a reduced VAT rate of 5% in the gastronomy, culture and publishing sectors extended until 31 December 2021 Introduction of a VAT exemption for COVID-19 in […]

The Bulgarian government have introduced new legislation that requires UK and other non-EU businesses to now appoint a fiscal representative who will have joint and several liability over their VAT compliance and VAT debts. Under the new provisions, UK and other non-EU businesses registered for VAT in Bulgaria will have to appoint a fiscal representative […]

On December 31, 2020, Mexico published a new decree by which it expands a number of fiscal benefits to 22 municipalities located in the southern states of Quintana Roo, Tabasco, Campeche and Chiapas. Among the main benefits extended to those locations is the reduction of the standard VAT rate to 8% to all sales and […]

Effective from July 2021, the contribution to the Danish Storm Flood Damage Levy will be reduced from DKK 60 to DKK 40. The scheme has reached its target balance of DKK 500m therefore the temporary increase of DKK 20 which was introduced in 2014 has been removed. The scheme compensates policyholders, who have an insurance […]

On December 31, 2020, Mexico published a new decree by which it expands a number of fiscal benefits to 22 municipalities located in the southern states of Quintana Roo, Tabasco, Campeche and Chiapas. Among the main benefits extended to those locations is the reduction of the standard VAT rate to 8% to all sales and […]