Regulatory Analysis
On 18 January 2023, the Botswana Ministry of Finance (MOF) issued a public notice that the temporary reduced standard VAT rate of 12% will expire on 31 March 2023. The MOF confirmed in the 2023 Budget Speech on 6 February 2023 that the VAT rate will increase back to 14% on 1 April 2023. The […]
China has further expanded the scope of the taxpayers issuing fully digitalized e-invoices (e-fapiao): From 1 March 2023 newly registered taxpayers in the Inner Mongolia Autonomous Region shall be included in the pilot scope of digital e-invoicing. From 22 March 2023, selected taxpayers in Henan and Jilin provinces can issue fully digitalized e-invoices From 30 […]
Mexico: The SAT published the standard and the error matrix of the Carta Porte Supplement version 2.0 Revision C, that is integrated into CFDI version 4.0 Among the main changes are: 4 service keys were incorporated into the additional validation of the CFDI ProdServ Key. The coexistence of the Carta Porte supplement was incorporated with […]
The state of Espírito Santo has postponed mandatory implementation of the NF3-e, Electric Energy Electronic Invoice, until 1 June 2023. The amendment was established by Ajuste Sinief 2/2023, published on 10/03/2023. The updated national implementation calendar is as follow: Mato Grosso: from 1 June 2022 Alagoas, Amapá, Amazonas, Bahia, Maranhão, Mato Grosso do Sul, Pará, […]
The Thai Revenue Department announced an extension of tax incentives to promote the current e-tax systems. These incentives will be extended until the 31st of December of 2025. These measures highlight the Thai Revenue Department´s intentions, and priority given, to continuously promote the use of e-tax invoices, which are currently of voluntary adoption. Among the […]
South Dakota HB 1137, signed by the governor and effective July 1, 2023, reduces the gross receipts tax in the state from 4.5% to 4.2% for a period of four years. In addition, the excise tax on agriculture machinery and equipment, the gross receipts tax on vehicle rentals, and select other taxes are reduced. Further […]
3/23/2023 Colorado imposes a Daily Vehicle Rental Fee on motor vehicle rentals 30 days or less and certain car sharing rentals. The rate may adjust for inflation each year. For the period of July 2023 to June 2024, the fee amount will increase to $2.13 from $2.05. Further information concerning the fee may be found […]
3/23/2023 Colorado imposes a retail delivery fee on all deliveries by motor vehicle in the state with at least one item of tangible personal property subject to state sales or use tax in the order. The fee amount may be adjusted for inflation each year. For the period of July 2023 to June 2024, the […]
Zakat, Tax and Customs Authority (ZATCA) announced the criteria for the third wave of Phase 2 of E-invoicing. Taxpayers with at least 250 million Riyals revenue subject to VAT for either 2021 or 2022 must implement Phase 2 as of 1 October 2023. Phase 2 is rolled out in waves, and currently the first group […]
The tax authority in Ecuador (SRI) has published an updated version of the Guide for Taxpayers on Cancellation of Electronic Vouchers. The document describes the functionality of the cancellation option for electronic receipts authorized by the Internal Revenue Service. This functionality allows to carry out the entire process of annulment of electronic receipts, which includes: […]
The National Tax Administration Superintendence (SUNAT) has published an update of the validation rules for electronic payment receipts. The adjustments will take effect from April 1, 2023.
The Internal Revenue Service of Ecuador (SRI) has published an update of the taxpayer guide for the negotiable commercial invoice. The document describes the functionality of the application of invoices that are authorized by the SRI under electronic modality, as negotiable commercial invoices.
The Ghana Revenue Authority (GRA) introduced the e-VAT invoicing system in October 2022 with the first group consisted of 50 taxpayers as a pilot group. GRA announced the second group of taxpayers, and their implementations will start after the completion of the first phase and be completed by the end of 2023. With the e-VAT […]
On 15 March 2023, the Ministry of Finance published a second draft legislation introducing certain changes to the KSeF e-invoicing system in Poland. This draft considers comments gathered during the public consultation which was completed in December 2022. Some of the points covered by the draft legislation are: The e-invoicing mandate is officially postponed with […]
The Malaysian Sales and Service Tax Royal Malaysian Customs Department announced the postponement of the imposition of sales tax on Low Value Goods to a date to be determined later. As discussed in our previous post on this topic, the tax on low value goods was scheduled to take effect on April 1. The announcement, […]
During a conference held on 10 March 2023 as a part of “Berliner Umsatzsteuertag”, the Federal Ministry of Finance announced their plans for mandatory B2B e-invoicing which will not be coupled with continuous transaction controls (CTCs) for domestic B2B transactions. Germany has applied for a derogatory decision from the European Commission to implement a mandatory e-invoicing regime and […]
The City of Philadelphia enacted a requirement that an employer provide employees and non-payroll workers who reside or work in Philadelphia with a notice of the Earned Income Tax Credit (EITC). The EITC Notice must be provided to the employee or worker at the same time the federal form W-2, 1099, or comparable form is […]
Missouri holds its annual sales tax holiday on Energy Star certified appliances (Show Me Green) from April 19 to April 25. Starting in 2023, all local sales and use taxes are exempted during this time, where previously locals had to choose to opt into this holiday. For more information, please reference RSMo Section 144.526 as […]