Regulatory Analysis
Virginia recently enacted budget bill HB 1600. The legislation includes an extension of the Virginia sales tax exemption for certain bullion and legal tender coins to July 1, 2026.
Indiana recently enacted HB 1601, the legislation exempts the sale of qualified data center equipment, quantum computing research tools, advanced computing devices, and defense infrastructure equipment from sales tax which meet certain qualifying criteria. More information concerning the legislation may be found here.
The Polish Ministry of Finance (MoF) has published a new draft version of the FA(3) logical structure for the National e-Invoicing System (KSeF) on 8 May 2025. The key changes in the FA(3) draft, compared to the FA(2), are the following: Technical Changes – Updates to code formats, schema variants, and data types. For example, […]
The Federal Board of Revenue (FBR) of Pakistan has issued a notification extending the previously announced deadlines for mandatory e-invoicing integration with the FBR’s centralized system. New Extended Deadlines The revised timeline for compliance is as follows: Corporate registered persons must integrate their systems and begin electronic invoicing by 1 June 2025 Non-corporate registered persons […]
North Dakota recently enacted HB 1139, which provides a sales tax exemption for gross receipts from sales made to fire departments. The legislation is effective beginning July 1, 2025.
At the close of 2024, New Jersey unveiled a plan to modernize its electronic tax systems through a multi-phased implementation of the new NJ Tax Portal. The NJ Tax Portal will serve as a comprehensive, stand-alone application encompassing all tax types once fully rolled out. The state recently provided key details and deadlines for Phase […]
New York recently released the new and improved version of NYS-45 (Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return). The updated form must be used for all quarterly starting on or after March 1, 2025. The updated form reflects significant changes to New York’s withholding requirements that were implemented in March 2025. Under the […]
After considerable opposition from the Democratic Alliance and several smaller political parties the South African Government has announced that it is cancelling its planned VAT increase. The government originally announced a plan to increase its VAT rate to 15.5% on May 1st and to 16% in 2026. On April 24th the Finance Ministry issued a […]
The Federal Board of Revenue (FBR) of Pakistan has issued notification S.R.O. 709(I)/2025 mandating electronic integration of hardware and software systems for registered persons under the Sales Tax Act, 1990. This integration will require businesses to connect with the FBR’s computerized system through licensed integrators or PRAL (Pakistan Revenue Automation Limited) to generate and transmit […]
Arkansas recently passed HB 1685 which removes the state sales tax on food and food ingredients effective January 1, 2026. Local level sales tax will continue to apply in Arkansas. More information on this upcoming change can be found here.
The Washington legislature is considering major changes to its sales tax laws. Senate Bill 5814, which passed the Senate on April 19th, is currently under consideration in the House of Representatives. The bill would expand the scope of services and software that are subject to sales tax. If passed, both sales tax and B&O tax […]
Beginning on July 1, 2025, Utah will modify its economic nexus laws by removing the transaction threshold for remote sellers and marketplace facilitators. Currently, remote sellers and marketplace facilitators are required to collect and remit Utah sales tax if they have more than $100,000 in gross revenue from sales into Utah or made 200 or […]
Beginning on July 1, 2025, Utah will modify its economic nexus laws by removing the transaction threshold for remote sellers and marketplace facilitators. Currently, remote sellers and marketplace facilitators are required to collect and remit Utah sales tax if they have more than $100,000 in gross revenue from sales into Utah or made 200 or […]
The Kentucky Department of Revenue recently updated its withholding resources to reflect several notable changes for 2025. Most significantly, a new online system has been introduced: the MyTaxes portal. This portal will replace the outdated WRAPS system. Furthermore, MyTaxes portal now accepts electronic submissions of both original and corrected Forms W-2G and 1099 whereas previously […]
The IRS recently released an updated version of Form 1099-MISC, which is used to report a multitude of payment types including rents, royalties, attorney payments, and other income payment types. Beginning with tax year 2025, the excess golden parachute payments will no longer be reported in Box 14 of Form 1099-MISC, but instead in Box […]
On April 11, the French National Assembly voted on the Bill for the Simplification of Economic Life, which included Amendment 2019 – a key provision for the maintenance of the current e-invoicing rollout schedule. The approval of the amendment confirms that the French e-invoicing mandate will proceed as planned, with the first phase set for […]
The Polish Ministry of Finance (MoF) has published an announcement on the current status of legal, technical, and business preparations for the implementation of the mandatory Krajowy System e-Faktur, also known as KSeF e-invoicing system. After analysing the comments from the November 2024 public consultations, the MoF considered all the key demands submitted by businesses […]
The Polish Ministry of Finance (MoF) has published an announcement on the current status of legal, technical, and business preparations for the implementation of the mandatory Krajowy System e-Faktur, also known as KSeF e-invoicing system. After analysing the comments from the November 2024 public consultations, the MoF considered all the key demands submitted by businesses […]