Regulatory Analysis


 
Posted December 7, 2021 by Robert Pelletier
EU Member States Consider Proposal for Council Directive Regarding Reduced VAT Rates

It is expected that EU finance ministers will adopt a proposed revision to the EU VAT Directive at the upcoming Economic and Financial Affairs Council meeting on 7 December 2021. The amendment would amend the list in Annex III of the VAT Directive of products and services eligible for a reduced VAT rate. The proposal, […]

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Posted December 6, 2021 by Ramón Frias
ARGENTINA: The AFIP informs of the New Simplified Export System for Small Taxpayers

The Argentinean tax administration (AFIP), along with the Customs Administration (DGA) and the Productive Development Ministry, has informed that effective November 1, 2021, the new “Exporta Simple 2.0” Platform is in full production mode. According to the news release from the AFIP, the main changes under this new version of the system are related to […]

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Posted December 6, 2021 by Ramón Frias
URUGUAY: Versions 22.2 of the Technical Standard and 1.41.2 of the XSD are now in Production

The tax administration of Uruguay (DGI) has informed the latest versions of the technical standard, and the XSD of the electronic invoice that previously were in testing status, are now being considered as officially published, meaning that they are now in production mode. The new version can be found here.

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Posted December 6, 2021 by Ramón Frias
COSTA RICA: New Version 4.4 of the Electronic Invoice

The Costa Rican tax administration has released a project of New Version 4.4 of the Electronic Invoice of the Country. This project of a new version would become effective (probably) in January or February 2022 if approved as originally proposed.

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Posted December 6, 2021 by Ramón Frias
COLOMBIA: Implementation of Technical Documentation for the Electronic Invoice for the Healthcare sector postponed

The Ministry of Healthcare of Colombia (MINISTRO DE SALUD Y PROTECCIÓN SOCIAL) has issued a new resolution postponing the effective date for the implementation of the technical documentation related to the electronic invoice for the health care sector. Based on the provisions of Art. 1 Resolution 506/2021 as modified by the provisions of Resolution 1526/2021, […]

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Posted December 6, 2021 by Paul Ogawa
Illinois Releases Illinois W-2 and W-2c Electronic Transmission Program Guide EFW2 and EFW2C Format 2021 Forms W-2 and W-2c filed in 2022.

Illinois recently released an updated transmission guide for 2021 Form W-2 and W-2C filed in 2022. Most changes to the transmission guide are the result of consolidating information from other sources, clarifying information from the previous guide, or updating dates to reflect the new tax year. General Information. • Illinois begins accepting 2021 W-2 and […]

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Posted December 6, 2021 by Ramón Frias
CHILE: New Resolution Establishes New Conditions for Certain Dispatch Guides

The Chilean tax administration has issued a new Resolution 123/2021 establishing new mandatory information for the Dispatch Guides (Chilean equivalent of the Carta Porte) issued by taxpayers carrying out forestry operations intended to trade wood. For this purpose, the dispatch guide will need to include geo-references in decimal grades, information about the place from where […]

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Posted December 6, 2021 by Enis Gencer
Slovenia: CTC system in the pipeline

The Ministry of Finance has withdrawn its draft regulation, submitted to the Slovenian parliament in June 2021, which, if passed, would introduce mandatory B2B e-invoicing in the country. According to the draft regulation, all business entities would be obliged to exchange e-invoices exclusively in their mutual transactions (B2B). In the case of B2C transactions, consumers […]

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Posted December 6, 2021 by Victor Duarte
SPAIN: Government approves preliminary draft law introducing B2B e-invoice mandate

The draft law for the creation and growth of companies introducing mandatory B2B e-invoices for companies and freelancers in the country has been approved by the Government and now will continue its legislative process in Congress. The obligation for taxpayers above a certain threshold may be in force as early as February 2023 if the draft law […]

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Posted December 6, 2021 by Paul Ogawa
Maine Released 2021 Electronic Specifications for Forms 1099 and W-2G

Maine recently released 2021 Electronic Specifications for Forms 1099 and W-2G. The most notable changes include: • Added sections: Due Date (pg. 3) and Forms Required (pg. 4). • Penalty: Any person who is required to file an information return in accordance with 36 M.R.S. §5242 and who fails to do so on or after […]

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Posted December 6, 2021 by Paul Ogawa
Nebraska Releases Updated Form 941N and Form 501N

Nebraska recently updated forms 941N and 501N for tax year 2021. Form 941N is the Nebraska Income Tax Withholding Return, used for employers to report withholding to Nebraska. Form 501N is for Nebraska Monthly Income Tax Withholding Deposit. The most notable changes are below. 941N • Various wording changes • Taxpayers under the ImagiNE Nebraska […]

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Posted December 6, 2021 by Robert Beck
Nebraska Releases Updated Forms W-3N and Amended Form W-3N

Nebraska recently released updated versions of its Form W-3N and Amended Form W-3N, the Nebraska Reconciliation of Income Tax Withheld and the form for sending an amended W-3N. Several minor grammatical changes were made this year, but there were a few notable changes to both forms and instructions which are detailed below: • Line 5 […]

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Posted December 6, 2021 by Paul Ogawa
Connecticut Releases Updated Instructions for Filing and Paying Taxes Electronically

Connecticut recently updated instructions for Filing and Paying Taxes Electronically or IP 2021 (5). This publication was previously IP 2020(6). The most notable changes are detailed below. • List of tax types available to file through DRS myconneCT expanded to include everything except those covered by TSC including alcoholic beverages, bottle deposit, public services taxes, […]

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Posted December 6, 2021 by Jesse Rooney
Ohio Revises W-2/1099 Reporting Requirements for Tax Year 2021

Ohio has announced a series of revised requirements for reporting W-2s and 1099s to the state for tax year 2021, reporting in 2022. All filers issuing 10 or more Forms W-2 and/or 1099-R will now be required to remit those forms using the Ohio Business Gateway. Previously, the electronic filing threshold for Forms W-2 and […]

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Posted December 6, 2021 by Paul Ogawa
Nebraska Releases Updated Circular EN for 2022

Nebraska recently released the 2022 version of the Nebraska Circular EN. A partial revision of this publication was released in 2020, however this is the first full revision since 2017. The Nebraska Circular EN is the state’s guide on income tax withholding for wages, pensions and annuities, and gambling winnings. The most notable changes are […]

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Posted December 6, 2021 by Robert Beck
Kansas Releases 2021 Filing Specifications

Kansas recently released its filing specifications for the 2021 tax year. These include the EFW2, KW-2 CSV, K-99 IRS 1220, KW-3/KW-3E, and 1099-CSV formats. Of the five sets of specifications, all but the 1099 CSV remained unchanged for the 2021 tax year. For the EFW2, KW-2 CSV, K-99 1220, KW-3/KW-3E specifications, the only change to […]

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Posted December 6, 2021 by Paul Ogawa
Illinois Releases Electronic Transmission Guide for 2021 Forms W-2G and 1099 Filed in 2022

Description Illinois recently released an updated transmission guide for 2021 Forms W-2G and 1099s Filed in 2022. Most changes to the transmission guide are the result of consolidating information from other sources, clarifying information from the previous guide, or updating dates to reflect the new tax year. General Information. Illinois begins accepting 2021 W-2G and […]

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Posted December 6, 2021 by Paul Ogawa
ARKANSAS RELEASES W-2 and 1099 Specifications, 1099-NEC accepted through CFS

Arkansas has published its W-2 and 1099 specifications for electronic filing with the state. Forms 1099 and W-2 are due to Arkansas by January 31, 2021. For 1099s, electronic media will only be accepted by CD and DVD. Arkansas will no longer accept USBs. Federal Form 1099NEC is now part of the CFS Program for […]

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