Regulatory Analysis
Effective January 1, 2025, the Colorado prepaid wireless charge on retail sales of prepaid wireless telecommunication services will be adjusted to $2.09 for the 911 charge and $0.07 for the 988 charge.
Colorado imposes a $2.23 Daily Vehicle Rental Fee on motor vehicle rentals 30 days or less and certain car sharing rentals. As a part of the total fee amount, a new $3 congestion impact fee has been added as a component of the fee rate. The new total rate for the Colorado Daily Vehicle Rental […]
The Ministry of Finance of the United Arab Emirates (MoF) has reaffirmed its plans for the previously announced E-Billing System project. The MoF just made available an e-invoicing website that defines the objectives of the e-invoicing project to reduce human intervention in business and tax reporting processes, optimize costs, and enhance security through encrypted transactions. This […]
Massachusetts is providing a 60 day Tax Amnesty Program from November 1, 2024 to December 30, 2024. The Tax Amnesty Program will be open to individual and business taxpayers who meet certain eligibility requirements. Most tax types will be eligible, including sales/use tax. Eligible taxpayers will be able to file delinquent or amended returns, pay […]
The New Jersey Department of Taxation has recently announced that beginning early 2025, Sales and Use Tax filers will utilize a new taxpayer portal to interact with New Jersey’s tax-filing system. The portal will provide direct filing capabilities and increased control over taxpayer accounts.
The Value Added Tax Law regulates the provision of digital services by residents abroad without an establishment in Mexico for the purposes of said Tax. Article 18-B of the VAT Law states that only those established in said legal precept are considered digital services, when they are provided through applications or content in digital format […]
The Alaska Remote Seller Sales Tax Commission recently announced White Mountain, Alaska has increased their sales tax rate from 1% to 3%. The rate increase will be effective December 1, 2024.
On 10th September 2024, the Danish Guarantee Fund (DGF) issued an order concerning the rate of contributions payable by insurers for 2025. The following non-life consumer policies will be subject to DKK 10 contribution: Family insurance policies Homeowners insurance policies Health insurances Change of ownership insurances Seller liability insurances Building/Construction damage insurance Motor insurance policies […]
On October 15, 2024, the Belgian authorities published a list of compliant software solutions that enable taxpayers to send, receive, and process structured electronic invoices. From 2026, all Belgian VAT-registered entities will be required to use structured electronic invoices for domestic B2B transactions. Sovos is recognized as one of the compliant software providers on this […]
On October 15, 2024, the German Ministry of Finance (MoF) published the finalized guidelines on the upcoming B2B e-invoicing mandate, confirming the announced roll out date of January 2025. The final guidelines have not changed the key requirements established by the Growth Opportunities Act, instead confirming the content of the draft guidelines published earlier this […]
On October 15, 2024, the French Tax Administration (DGFIP) announced a major change regarding the Public Portal (‘PPF’), marking a significant shift in the country’s e-invoicing landscape. The DGFIP stated that the PPF will no longer function as a free e-invoice exchange platform, discontinuing its plan to serve as a no-cost Partner Demateriarialization Platform (‘PDP’). […]
The 2025 Draft State Budget once again proposes 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, 2025, this requirement is now addressed in the 2025 Draft State Budget. Following the official publication of […]
As a part of amendments to the Alaska Remote Seller Uniform Code for ARSSTC member jurisdictions, the 200 transaction threshold for economic nexus will be removed effective January 1, 2025. From such date, a remote seller has economic nexus if their gross sales for products or services delivered in Alaska meets or exceeds one hundred […]
Revenu Québec recently released the RL-3 (Investment Income) for tax year 2024 through Revenu Québec’s Partner program, which provides early access to forms for product developers and other tax professionals. On Copy 1 of the RL-3, the revision date has been updated. On Copy 2, there are several changes related to the capital gains inclusion rate […]
Missouri recently released the 2024 Employer Reporting of 1099 Instructions and Specifications Handbook. The tax year has been updated throughout. The CF/SF guidance has been updated to clarify that only filers who have never been approved to participate in CFS (through IRIS or FIRE) are required to submit a copy of the IRS approval letter […]
The IRS recently updated its Publication 1220. The first version for 2024 was released last week on September 19, 2024. This week, an updated version was released with two changes to the document. A previously omitted section for the Zip Code field positions for the “B” Record of Form 1099-LTC was added, and some new […]
The IRS has revised Publication 5165, “Guide for Electronically Filing Affordable Care Act (ACA) Information Returns.” The document provides guidance on electronic filing of ACA returns to the IRS. In addition to expected updates to years referenced, there are a number of changes. Additional direction on retrieving acknowledgements has been provided. These step-by-step instructions detail […]
The IRS recently released its 2024 Publication 1187, the Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. This publication is updated at least annually with later changes occurring occasionally. There were few substantive changes in the publication this year, the only notable one being the use of field […]