Regulatory Analysis
Pursuant to a notice issued by the Nigerian Federal Inland Revenue Service (FIRS) on January 15, 2024, the implementation of the Guidelines on Simplified Compliance Regime on VAT for non-resident suppliers of goods to Nigeria through digital platforms, scheduled to commence from January 1, 2024, has been postponed. The postponement is to allow FIRS to […]
The Royal Malaysian Customs Department announced that cross-border sales of goods valued at MYR500 or less are subject to 10% sales tax when sold to businesses and consumers in Malaysia effective January 1, 2024. The low value goods regulations can be found here.
Pursuant to Decree 94/2023/ND-CP as published on December 28, 2023, supplies of goods and services subject to the standard 10% VAT rate will continue to apply the temporary 8% standard VAT rate until June 30, 2024. The 2% VAT rate reduction, which was previously set to expire on December 31, 2023, has been extended by […]
Government Bill 488, now published in the Official Gazette of the Czech Republic, makes several changes to the country’s VAT Act, the most significant of which are as follows: The country’s two reduced rates of 15% and 10% are replaced by a single reduced rate of 12%; Books, including electronically supplied books, are exempt with […]
On January 1, 2024, Luxembourg’s temporary 1% decrease in several of its VAT rates will expire. Luxembourg’s VAT rates will return to what they had been prior to January 1, 2023, as follows: 17% standard rate (was 16% for calendar year 2023) 14% reduced rate (was 13% for calendar year 2023) 8% (was 7% for […]
Pursuant to Federal Gazette No. 39/2022 published on October 29, 2022, the temporary 7% reduced VAT rate applied to restaurant and catering services, excluding the sale of beverages, in Germany expired on December 31, 2023. These services have been subject to the standard 19% tax rate since January 1, 2024. The law can be found […]
Pursuant to Law 5073/2023 as published in the Official Gazette on December 11, 2023, the temporary 13% reduced VAT rate in Greece that applied the provision of services in cafes, restaurants, and pastry shops, as well as the 6% rate on protective face masks and gloves due to Covid-19, has expired. Since January 1, 2024 […]
As announced by the Spanish Ministry of Finance on December 27, 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 June 30, 2024. These measures seek to continue making consumer shopping baskets cheaper through the first half […]
Italy officially published the Budget Law for 2024 in the Official Gazette No. 303 of December 30, 2023. The VAT rates applied to supplies of feminine hygiene products and childcare products, such as baby diapers, will increase from 5% to the 10% reduced VAT rate from January 1, 2024. Law No. 213 containing these measures […]
The tax authority, through the Miscellaneous Tax Resolution for 2024, in its transitory provisions, established that taxpayers obliged to issue CFDIs to which the Carta Porte supplement is incorporated, may continue to issue them in its version 2.0, published on February 24, 2023 on the SAT Portal, until March 31, 2024.
On December 24, SUNAT resolution 000042/2023 was published, extending the grace period for the non-application of penalties for infractions related to Electronic Transportation Guide (GRE) The resolution indicates that the subjects required to issue the GRE as of 1 January 2024 require an adaptation period and it is advisable to extend the deadline for compliance. […]
The regulation amending the scope of data included in the JPK_VAT with a declaration (VAT return) in Poland, has now been passed to the Minister of Finance for formal signature. The final version of the regulation from 29 December 2023 has been further changed compared to the initial draft, and its final form does not […]
The draft legislation on 28 December 2023 introducing mandatory B2B e-invoicing in Belgium has been made publicly available and is now awaiting the Belgian Parliament’s approval. After its approval, the e-invoicing mandate is planned to enter into force from 1 January 2026 and impact all VAT-registered taxpayers established in Belgium. The taxable persons who are […]
After the implementation of Romania’s new B2B e-invoicing regulations effective January 2024, the country introduced the Government Emergency Order no. 115/2023 with last-minute amendments. The key amendments resulting from the new legislation can be summarized in 3 categories: 1. Exemptions from the e-reporting and e-invoicing mandate are clarified The following transactions are explicitly exempted from […]
Saudi Arabian Tax and Customs Authority, ZATCA, extended the “Cancellation of Fines and Exemption of Penalties Initiative” until June 30, 2024. This initiative covers fines regarding late registration in all tax systems, late payment, late filing of returns fines in all tax systems, and fines to correct VAT returns, as well as fines for violations […]
In the Serbian Official Gazette no. 116 from 26.12.2023, the regulations introducing certain legislative changes were published, namely: Amendments to the Regulation on uniform technical and technological requirements and procedures for the preservation and protection of archival material and documentary material in electronic form. Amendments to the Regulation on Electronic Invoicing. Amendments to the Regulation […]
The Turkish Revenue Administration (TRA) has recently issued new technical guidelines and updated e-invoicing technical packages in response to the revised e-invoicing rules targeting Charging Network Operations and Charging Station Operators. This development follows the enactment of General Communique No. 550 of the Tax Procedural Law in October 2023, which mandated e-invoicing for licensed Charging […]
As published in the Official Journal of Laws on December 9, 2023, the Polish Ministry of Finance has extended the zero VAT rate on basic food products until March 31, 2024. The temporary zero VAT rate was previously set to expire on December 31, 2023. The regulation can be found here (in Polish).