Regulatory Analysis
In 2022, Kentucky enacted House Bill 8 extending the state’s sales and use tax to 35 additional services. Effective January 1, 2023, the list of newly taxable services include lapidary services, personal training, parking services, as well as marketing. The full list of newly taxable services can be found here.
Due to changes in Public Act No. 21-58, Connecticut is updating and expanding the applicability of their Bottle Deposit effective January 1, 2023. For the purposes of the Bottle Deposit, “carbonated beverages” will now include hard seltzers and ciders. Additionally, “noncarbonated beverages” will include plant water, juice, juice drinks, tea, coffee, kombucha, plant infused drinks, […]
The state of Virginia has exempted food for human consumption and essential personal hygiene products from state sales tax. Previously, products fitting these descriptions were subject to a reduced rate of 1.5%. Beginning on January 1, 2023, these products will be exempt from state sales tax, but may still be subject to a 1% local […]
The Greek Tax Authority, IAPR, published a press release on 1 November, announcing the extension of the deadline until 31 December 2022 for the transmission of accounting data of wholesale transactions, data of invoicing expenses, and self-invoicing income in the cases of discrepancies in the aforementioned transmitted data.
As previously announced, the Serbian Minister of Finance published the Draft Law on Amendments to the Law on Electronic Invoicing on the 9th of November, alongside the Draft Laws on Amendments to the Law on Value Added Tax, Law on Fiscalization, and Law on Tax Procedure and Tax Administration. The changes introduced to the Law […]
The Serbian Minister of Finance (MoF) published the draft Law on Amendments to the Law on Fiscalization. The Law of Fiscalization regulates the so called “Fiscalization”, which is the procedure of fiscalization of the content of the fiscal account through an electronic fiscal device. The amendments to the Law on Fiscalization impacting the future e-invoicing […]
On the 1st of December the Ministry of Finance published draft legislation amending the Act of 11 March 2004 on tax on goods and services (Journal of Laws of 2022, item 931, as amended) – hereinafter referred to as the “VAT Act” regarding the introduction of mandatory invoicing in the National e-Invoice System (KSeF) hereinafter […]
On 21 September, the Greek Parliament passed a bill introducing penalties for non-compliance with rules requiring taxpayers to transmit retail sales data issued via the Information System of Electronic Tax Mechanisms (F.I.M). According to Article 54H of the Tax Procedures Code, IAPR will impose the following penalties for non-transmission of the receipt summary to the […]
The SAT published the Second Anticipated Version of the Tenth Resolution of Modifications to the Miscellaneous Tax Resolution for 2022 which establishes the possibility of issuing CFDI in its version 3.3 and the CFDI that covers withholdings and payment information in its version 1.0, until March 31, 2023. The foregoing is also applicable to the […]
Singapore’s Parliament passed a bill increasing the goods and services tax by 1 percent. The standard GST rate will be increasing to 8% from 7% effective January 1, 2023. The amendment bill can be found here.
The Uzbekistan State Tax Committee issued a Press Release on September 19, 2022, regarding changes in the VAT rates as per the head of state. The standard VAT rate will be decreasing to 12% from 15% effective January 1, 2023. The press release can be found here.
The IRS recently released updated ACA forms, 1094-B: Transmittal of Health Coverage Information Returns, 1095-B: Health Coverage, 1094-C: Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns and 1095-C: Employer-Provided Health Insurance Offer and Coverage Below is a summary of the substantial changes: 1095-B and 1095-C – Instructions regarding individuals who do not have the […]
Rhode Island has announced an extension of it’s insurance mandate filing deadlines. Filers will now need to provide forms 1095-B and -C to recipients by March 1 annually. In addition, the state is extending it’s insurance mandate filings deadline to March 31 annually. These changes align the state’s filing deadlines with those of the federal […]
Arkansas recently published specifications for W-2 and 1099 filing with the state. Besides year updates to 2022, there were no other substantive changes. The due date for filing W-2 and Forms 1099 is January 31, 2023. To view the updated specifications, click here.
Georgia has released it’s 2023 Employer Withholding Tax Guide. The relevant year and withholding due dates have been updated in the guide to reflect accurate dates in 2023. There are no substantial content changes to the Employer Withholding Tax Guide when compared with its previous release in January 2022. Please see the landing page for […]
The IRS has released Publication 1187 for tax year 2022. This document provides electronic specifications for filing Form 1042-S with the IRS. There are no fundamental changes to the electronic specifications themselves, but there are a few notable changes to ancillary information. Filers who have FIRE transmitter control codes (TCCs) that were applied for earlier […]
North Carolina has released its File Layout Specifications for Forms 1099 and 1042-S for tax year 2022. The documents were updated with dates for the 2022 tax year. On the 1099 File Layout Specification, the location for field specification 711-722, “State Income” has changed from Box 17 to Box 18 of 1099-MISC. On both 1099 […]
Nebraska recently updated form 501N for tax year 2022. Form 501N is for Nebraska Monthly Income Tax Withholding Deposit. There were no substantive changes from the 2021 version. To view Form 501N, click here.