Regulatory Analysis
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 AEAT updated the technical documentation for the SII. Changes introduced by the new documentation will be in force in the production environment from 1 January 2023. Among the changes, the value AJ was added to the ledger of issued invoices for adjustments of the benefit’s margin and new validations and errors associated with this […]
On November 22, 2022, the Deputy Commissioner General of Taxation published Circular 220-TD/CIR/2022/04 increasing the general goods and services tax rate from 6% to 8%. This rate change will be effective from 1 January 2023. The Circular can be found here.
The Official Newspaper of the Grand Duchy of Luxembourg publish an amendment on October 26, 2022, regarding changes to the VAT rates. The standard VAT rate will be decreasing to 16%, the reduced-rate will be decreasing to 13%, and the super-reduced-rate will be decreasing to 7% effective January 1, 2023. These are temporary decreases that […]
Suriname is introducing a new VAT system that will replace the current sales (turnover) tax. A 10% VAT rate will come into effect on 1 January 2023. Businesses with annual taxable turnover exceeding SRD 1 million are required to register and others may voluntarily register. Non-resident suppliers providing digital services to non-taxable persons in Suriname […]
The General Tax Directorate of the Republic of Uruguay has published on its website the following technical documents for the electronic fiscal documents (CFE) in the production environment: CFE: CFE v23.2 format Daily report: CFE Report Format v13 Response Message: Response Message Format v15 Schema: XSDs_FE_V1.42.1 XSD_Formato_Envío de Información Proveedores de SW v1.5.
The Mexican Tax Administration (SAT) recently published some adjustments to the Error code matrix that is used for the CFDI 4.0. Precisions were made in some error codes and a new error code was added to clarify when the Foreign Trade complemento should not be included.
The internal revenue service of Ecuador has published on its website a new version of the guide for taxpayers on the request for authorization to issue electronic receipts. The guide establishes the requirements and instructions to access the issuance of electronic receipts in a test environment and later in a production environment, and details the […]
The SAT published the second anticipated version of the ninth resolution of modifications to the miscellaneous tax resolution for 2022 and its annexes 1 and 1-A. Among its modifications, the fifth transitory article establishes that those who make payments for the concepts referred to in Title IV, Chapter I of the income tax law and […]
HMRC has issued a new policy paper, Revenue and Customs Brief 11 (2022): VAT and children’s face masks, announcing a shift in their policy regarding children’s face masks. Children’s face masks are now considered children’s clothing and therefore qualifies for the application of a zero-rate of VAT. For the zero-rate to apply the masks must […]
The Turkish Revenue Authority updated the e-Fatura package in line with the amendments made to Value Added Tax General Application Communique. According to the changes, the withholding tax rate for the delivery of iron and steel products has been revised to 5/10 from 4/10. Updated package is available here: https://ebelge.gib.gov.tr/dosyalar/kilavuzlar/e-FaturaPaketi.zip
The Chilean Internal Revenue Service published Circular No. 50 with instructions on the forthcoming entry into force of the modifications introduced by Law No. 21,420, which reduces or eliminates tax exemptions. Among its modifications is the change in the definition of the basic taxable event “service” which is defined as “the action or provision that one […]
The French authorities published new legal documentation that provides details on the overall French Mandate requirements. Some of them, especially with regard to the obligations of the Partner Dematerialization Platform (PDP) operators and e-reporting deadlines, were long-awaited. Decree No. 2022-1299 provides requirements and obligations of the Partner Dematerialization Platform (PDP) operators and the Invoicing Public Portal (PPF), the […]
The Italian Revenue Agency has now released version 1.8 of the Compilation Guide of the Electronic Invoice and Esterometer (Guida alla compilazione FE ed esterometro). The updates reflect the latest changes in the FatturaPA technical documentation, valid from 1 October 2022, of which the main point is the inclusion of the new Type of Document […]
The Legislative Assembly of El Salvador has recently approved Decree 487 with relevant reforms to the Tax Code, introducing the initial and general legal framework for its mandatory electronic invoicing system, for which there is currently no provision under the country’s tax legislation. The Decree defines the different types of Electronic Fiscal Documents (Documentos Tributários […]
On 30 September 2022, the Romanian Ministry of Finance published a draft Government Emergency Ordinance, including various amendments to various regulations. One of the important changes envisaged in the draft GEO is regarding the rules on fiscal inspections. While the fiscal inspections are carried out on the work premises of the taxpayers’ premises, as per Article 125 […]
The Argentinian tax authority (AFIP) has established the procedure for linking the electronic transport document for flour (Remito Electrónico Harinero – REH) with the electronic sales invoice that supports the operations of sale of flour and by-products derived from the milling of wheat. As recently established for the e-transport document for meats (Remito Electrónico Cárnico […]