From 1 November 2019, the Polish Ministry of Finance (“MoF”) will implement the Binding Rate Information scheme (“WIS”), a facility enabling taxpayers to apply to the MoF for a legally binding agreement on the VAT rate pertaining to a specific good or service (or combination of goods and services). Most WIS agreements will only become […]
The European Council and the United Kingdom have agreed to defer the latter’s departure date from the European Union until January 31, 2020. The agreement has been labeled a “flextension,” because it leaves open the possibility of an earlier departure date, should the two sides successfully negotiate a Withdrawal Agreement. Prime Minister Boris Johnson, in […]
The Polish Ministry of Finance has published a regulation in the Journal of Laws detailing the structure of the new JPK_VAT standard audit file (labelled up to now with the title “JPK_VDEK”), filing of which will become mandatory for large taxpayers from 1 April 2020 and for small and medium taxpayers from 1 July 2020. Taxpayers […]
HMRC’s trade statistics portal uktradeinfo has announced that businesses presently required to file periodic Intrastat declarations reporting the movement of goods between the UK and EU Member States will have a continuing obligation to do so after the UK leaves the EU. HMRC has cited the reasoning for this as that the information provided remains […]
On October 14, 2019, the General Coordinator of Audits for the Federal Tax Administration in Brazil (Receita Federal), published Executive Ruling 55 revoking Version 2.0 of the EFD-Reinf layout. In so doing, it restores the Executive Ruling 65 (September 2018) Establishing Reinf Layout Version 1.4 as the required format. As a result, the planned expanded […]
Kansas has published a revision of its Publication 1216, Business Tax Application. It is the same as the original version, published in August 2019, except the Electronic Services email address has been changed to kdor_BusinessTaxEservices@ks.gov.
The Massachusetts Department of Revenue issued Technical Information Release (TIR) 19-12, publishing the interest rate for overpayments and underpayments of taxes. This page is continually updated, most recently with the fourth quarter rates for 2019. These rates remain unchanged from the third quarter of 2019, at 4% for overpayments and 6% for underpayments. To review […]
The Virginia Department of Taxation recently published Tax Bulletin 19-6, which includes state interest rates for the fourth quarter of 2019. Virginia Code §58.1-15 provides that overpayment and underpayment rates will be 2% higher than the corresponding federal rates. For the fourth quarter of 2019, these rates will remain unchanged from the prior quarter: 7% […]
Businesses operating in the EU currently not required to register for UK VAT because of cross-border simplifications (e.g. zero-rating of intra-community acquisitions, or call-off stock arrangements) may need to do so if the UK leaves the EU on 31 October without a withdrawal deal. In order to support supply chains for UK businesses with UK […]
The National Statistical Institute of Bulgaria has announced the following Intrastat thresholds starting on January 1, 2020: For Intrastat reporting dispatches, the threshold will increase from BGN 280,000 to BGN 290,000. For Intrastat reporting arrivals, the threshold will increase from BGN 460,000 to BGN 470,000. Thresholds for declaring statistical value are also increasing. For dispatches, […]
In its recently published Tax Reform Act 2020, Austria has announced its intention to increase the VAT registration threshold for Austria-established businesses from EUR 30,000 to EUR 35,000 with effect from 1 January 2020. The Act has passed the lower house of Parliament (Nationalrat) and is currently being debated in the upper house (Bundesrat). The […]
While the Kansas Department of Revenue announced that remote sellers would be required to collect tax on sales made into Kansas beginning on October 1, 2019, the Attorney General issued an opinion stating that the requirement was not lawfully passed and was of no effect. However, the Department maintains that the requirement is valid, leaving […]
The Colombian tax administration (DIAN) has issued a new Resolution 0000064/2019 that basically extends by 2 to 3 months the deadline for complying with the new pre-validation system established by Resolution 000020/2019. Originally, Resolution 0000020 established two schedules of compliance: The first one classified the taxpayers into 14 groups, and established deadlines according to the […]
Online filing is becoming more popular in the European Union and three new territories look set to modernise how Insurance Premium Tax (IPT) should be filed going forward. France has introduced an article in its 2020 Budget Law that will make the online filing and payment of IPT compulsory by 1 January 2022 at the […]
Insurance companies covering risks in Greece must now report their insurance policies annually to meet new obligations introduced by the Greek tax authorities. A report is due by 31 March each year listing all the invoices declared each quarter during the previous calendar year. Approving the law back in 2016, the Greek tax authorities have only recently […]
As a part of the Taxpayers First Act of 2019, the thresholds for filing information returns electronically will see a reduction in the years approaching and after 2021. Per Section 2301 of the Act, electronic filing will be required for filers submitting 250 or more forms prior to calendar year 2021. That threshold will be […]
Nebraska has released a guide – Nebraska Computer Reporting Procedure for 1099’s, 21EFW2 – which covers state electronic reporting specifications for Forms W-2 and W-2G. Any filer with more than 50 Nebraska Forms W-2, 1099-MISC, 1099-R, and W-2G must e-file them, using DOR’s NebFile for Business program on DOR’s website, on or before January 31. Nebraska follows […]
The IRS has released 2020 draft joint 1099-MISC and NEC instructions. Changes to instructions are highlighted below: 1099-NEC due January 31, 1099-MISC due March 31 (electronic); Specified changes to the 1099-MISC as noted in the instructions’ preamble: There is a checkbox in box 7 to indicate direct sales of $5,000 or more; Crop insurance proceeds […]