Regulatory Analysis
The Saudi Arabian Tax and Customs Authority, ZATCA, announced the fifth wave of Phase 2 of e-invoicing. The fifth wave covers taxpayers with at least SAR 100 million (app. USD 26 million) revenue subject to VAT for 2021 or 2022. Taxpayers within this group are expected to integrate as of December 2023. Phase 2 of […]
Pursuant to Royal Decree-Law 5/2023 of June 28, 2023, the temporary zero VAT rate on basic food items such as bread, flour, milk, cheese, eggs, fruits, vegetables, legumes, tubers, and cereals has been extended until December 31, 2023. Please note that the temporary 4% reduced rate applied to the supply of face masks has not […]
As announced by the Polish Ministry of Finance on June 27, 2023, through an article on their news website, the zero VAT rate that temporarily applies to supplies of certain food and drinks has been extended until December 31, 2023. The article can be found here.
The European Commission (EC) published its council implementing decision proposal authorizing Germany to introduce mandatory e-invoicing derogating from the VAT Directive, 2006/112/EC. Germany requested authorization to derogate from Articles 218 and 232 of the VAT Directive to be able to impose mandatory electronic invoicing for domestic B2B transactions in Germany, on 10 November 2022. According […]
The European Commission (EC) published its council implementing decision proposal authorizing Romania to introduce a special measure derogating from the VAT Directive, 2006/112/EC. According to proposal of the EC, Romania will receive a derogation as of 1 January 2024 until 31 December 2026. On the other hand, Romania will need to make necessary adaptations in […]
Illinois Public Act 102-0700’s groceries tax reduction is set to expire on July 1, 2023. This act suspended the state 1% low rate of sale and use tax on retail sales of groceries from July 1, 2022 though June 30, 2023. Therefore, the rate for groceries will return to 1%. The relevant legislation may be […]
6/20/2023 On June 18, Texas Governor Greg Abbott signed Senate Bill 379, which will exempt wound care dressings, diapers, baby wipes, maternity clothing, breast milk pumping products, baby bottles, and feminine hygiene products beginning September 1, 2023. The exemption for diapers will include both adult and children’s diapers. Under the exemption, the term “feminine hygiene […]
The Ministry of Finance in Serbia has recently published and updated: The Rulebook on electronic invoicing: Rulebook on electronic invoicing (efaktura.gov.rs) Internal Technical Manual (16.06.23): Updated internal technical manual (16.06.2023.) (efaktura.gov.rs) Instructions for using XML files: Instructions for using XML files (05.06.2023.) (efaktura.gov.rs) Main changes introduced in the Rulebook: Replaces three regulations that were applying […]
Governor Ivey has signed HB 479 to reduce the state sales tax rate on eligible food products. The state tax rate will be reduced to 3% on September 1, 2023. If certain revenue requirements are met, the rate will be reduced to 2% on September 1, 2024. Food eligible for the reduced rate will be […]
The Spanish Government published a draft version of the Royal Decree that develops article 12 of Law 18/2022, on the creation and growth of companies with the aim of establishing the Spanish system of mandatory B2B electronic invoicing. The regulation will be effective 12 months after its publication on the Spanish official Gazzete (BOE). The […]
Effective July 1, 2023, the Canadian province of Quebec will change its tire fee structure. Until June 30, 2023, a fee of $3 applies to sales of a new tire with a rim diameter not exceeding 24.5 inches. Effective July 1, 2023, two fee amounts will apply based on the overall tire diameter for tires […]
The tax authority in Bizkaia published an update for the technical documentation related to Bizkaia SII. The documentation introduces the value “AJ” (Ajuste del Margen de Beneficio) in the ledger of issued invoices for modifications of the tax base and quota for which there is no obligation to issue a rectifying invoice derived from the […]
June 30, 2023, marks the end of the grace period for those who make payments for salaries and who are obliged to issue CFDIs for them, may choose to issue them in version 3.3 with payroll supplement in version 1.2, in accordance with The Second Resolution of Modifications to the Miscellaneous Tax Resolution (RMF) for […]
6/7/2023 Indiana has amended the sales threshold for sales by a nonprofit in Senate Enrolled Act (SEA) 417 (2023). Previously, Indiana exempted tangible personal property sales not exceeding a threshold of $20,000 in a calendar year when used to further the qualified nonprofit purposes of an organization. The $20,000 per year threshold has been increased […]
On May 31, 2023, Argentina published the AFIP General Resolution No. 5364/2023, through which it establishes the Electronic Control Action System, its implementation and Administrative Statuses of the Unique Tax Identification Code (CUIT). Through this resolution, a procedure for controlling compliance with tax, customs and social security obligations of taxpayers and/or responsible persons called the […]
6/6/2023 Colorado HB 1285, signed by the Governor on June 1, 2023, amends the statewide carry out bag fee. Previously, the law required a retailer to remit a portion of the fee to the local government in which the store is located on a quarterly basis starting April 1, 2024. The amended legislation allows greater […]
On May 17, 2023, the Electronic Invoicing Law was published in the Official Gazette of the Dominican Republic, whose purpose is to regulate the mandatory use of electronic invoicing in that country and sets the Electronic Invoicing Tax System and its features, optimization results and contingencies; as well as establishing the mandatory implementation deadlines and […]
The Hungarian Government has modified the government decree (No. 197/2022) regulating the imposition of extra profit taxes as part of the 2024 Bill again. The new decree (No. 206/2023) published in the Hungarian National Gazette on 1 June 2023 is in effect as of 2 June 2023. The new decree extends the extra profit tax […]