Regulatory Analysis
12/8/2023 Pursuant to Senate Bill 56, Georgia sales tax now applies to the sale of specified digital products, other digital goods, or digital codes sold to an end user, provided that such end user receives or will receive the right of permanent use of product, goods or codes and the transaction is not conditioned upon […]
12/7/2023 Starting January 1, 2024, Delaware will impose a new $0.60 surcharge on the retail sale of communication services that are capable of allowing a consumer to make an outbound communication to the 988 Lifeline.
The Spanish Tax Office has issued a new order No. HFP/1284/2023 on November 30, 2023, which contains the regulatory approval of a new model 430 “Tax on Insurance Premiums”. In Spain, the Model 430 is used to declare the self-assessed Insurance Premium Tax (IPT) on a monthly basis. The model update aimed to harmonize the […]
The Spanish government is pursuing various routes for digitizing tax controls, including introducing software requirements on the billing system. Back in February 2022, a Draft Royal Decree was published establishing invoicing and billing software requirements to secure Spanish antifraud regulations. This ensures that billing software meet the legal requirements of integrity, conservation, accessibility, legibility, traceability […]
India is considering the expansion of its mandatory e-invoicing system to encompass B2C transactions. Currently, B2B transactions are subject to this mandatory e-invoicing, requiring clearance through platforms accredited by the tax authority. Taxpayers exceeding a specific revenue threshold must issue their invoices in compliance with this system. This Continuous Transaction Control (CTC) system is anticipated […]
On December 5, 2023, the Ninth Resolution of Amendments to the RMF 2023 was published in the Official Gazette, entering into force on the day following its publication. The resolution modifies and adds some rules related to the requirements for the application of fiscal incentives established in various Decrees. The most relevant points in terms […]
12/5/2023 Effective January 1, 2024, the Connecticut Bottle Deposit Fee will increase to 10 cents per container. Further information may be found here.
The Portuguese parliament has granted approval for a proposal aimed at delaying the implementation of the qualified electronic signature requirement as a method to establish the presumption of integrity and authenticity for e-invoices. Initially expected to be enforced on January 1, 2024, this requirement is dealt with again in the 2024 State Budget (Draft-law no. […]
Beginning with tax year 2023, Colorado law requires employers to provide all employees with an annual notice of Earned Income Tax Credits and Child Income Tax Credits. This week, the Colorado Department of Revenue released criteria that employers must follow when providing the EITC/ CITC notice to employees. Notice may be printed or sent electronically. If […]
12/1/2023 Effective January 1, 2024, the Colorado prepaid wireless charge on retail sales of prepaid wireless telecommunication services will be adjusted to $1.88 for the 911 charge and $0.14 for the 988 charge. Further information may be found here.
Pursuant to the Nigerian Federal Inland Revenue Service (FIRS) Circular No. 2021/19, foreign suppliers and marketplaces providing goods in Nigeria to taxable and non-taxable persons must collect and remit VAT on their sales from January 1, 2024. The circular can be found here.
12/1/2023 Effective January 1, 2024, the Colorado Waste Tire Fee on the sale of new motor vehicle and trailer tires will decrease to $0.55 from $1.25. Further information may be found here.
12/1/2023 For the first time, a Florida Back to School Sales Tax Holiday will occur outside of the summer months. Under HB 7063, this Back-to-School Sales Tax Holiday will begin January 1, 2024, and end January 14, 2024. Exempt items include learning aids and jigsaw puzzles selling for $30 or less per item, certain school […]
12/1/2023 Beginning on January 1, 2024, Oregon will impose a new 988 tax on telecommunication services. The tax is $0.40 per transaction and applies to the same services or products as Oregon’s current E911 tax. More information on the tax can be found here.
The Bundesrat, the upper house of the German Federal Parliament, has declined to approve the Growth Opportunities Act, which includes amendments to VAT law concerning e-invoicing, along with other tax measures. Germany is in the process of introducing a mandatory e-invoicing regime for domestic B2B transactions. The implementation timeline has been recently revised following approval […]
The National Bureau for Revenue (NBR) released an updated edition of the Value Added Tax (VAT) General Guide in November 2023. A VAT-registered individual or entity is now authorized to issue, retain, and manage VAT invoices, along with credit and debit notes, in an electronic format without NBR’s prior approval. Previously, the NBR had announced […]
Pursuant to Goods and Services Tax (Amendment) Bill No. 30/2022, the standard GST rate in Singapore is increasing to 9% effective January 1, 2024. The Bill can be found here.
The Turkish Revenue Authority (TRA) issued a circular on November 29, 2023, announcing that the deadline for the creation and signing of e-ledgers and submission of e-ledgers to TRA system has been extended to provide taxpayers additional time to fulfill these obligations. Originally due on 30 November 2023, the deadline has now been updated as […]