Regulatory Analysis
France is in the process of implementing a Continuous Transaction Controls (CTC) system which introduces mandatory e-invoicing for domestic B2B transactions and e-reporting obligations. On July 28, 2023, the Directorate General of Public Finances announced that the roll-out date of the mandate is postponed in order to give the necessary time for taxpayers to comply […]
On July 11, 2023, the Ministry of Finance of the United Arab Emirates (UAE) announced five major strategic transformational projects which aim to advance the country in the field of digital government. One of the announced projects is the “E-Billing System”, a system that will automate and thus facilitate the procedures for filing tax returns […]
The City of Old Harbor has completed the process to join the Alaska Remote Sellers Sales Tax Commission (ARSSTC). Sellers must begin collection starting 9/1/2023 and filings will be updated to include Old Harbor on 10/1/2023. More information on the ARSSTC may be found here.
The European Commission (EC) authorized Germany to introduce special measures regarding mandatory electronic invoicing with its decision dated July 25, 2023. Germany plans to implement mandatory e-invoicing for domestic B2B transactions. According to the decision of the EC, Germany received the derogation from the VAT Directive from January 1, 2025, to December 31, 2027, or […]
The European Commission (EC) authorized Romania to introduce special measures regarding mandatory electronic invoicing with its decision dated July 25, 2023. Romania plans to implement mandatory e-invoicing for B2B transactions. According to the decision of the EC, Romania received the derogation from January 1, 2024, to December 31, 2026, or until the national transposition of […]
Saudi Arabian Tax and Customs Authority, ZATCA, extended the “Cancellation of Fines and Exemption of Penalties Initiative” until December 31, 2023. 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 […]
The municipality of Rio de Janeiro published Law No. 7.907 of 2023, amending the Municipal Tax Code to reduce from 5% to 2%, the ISS (tax on services) rate of the following services, referred to in article 33, item II of the Code: a) services for the development and audit of carbon credit projects; b) […]
Cyprus published The Value Added Tax (Amendment) (No. 3) Law of 2023 in the Gazette on July 21, 2023. Effective immediately, the Amendment introduces a 3% reduced VAT rate on several items previously subject to a reduced rate of 5%, including print publications, orthopedic devices, and street cleaning services. The published Amendment can be found […]
The Inland Revenue Board of Malaysia (IRBM) has issued a guideline today regarding the implementation details of the upcoming e-invoicing mandate. According to the guideline, Malaysia will adopt a CTC clearance model, set to begin in June 2024, involving around 4000 companies that meet the specified threshold. Under the new e-invoicing model, known as MyInvois, […]
The SAT published on its official website the First Advance Version of the Sixth Resolution of Modifications to the Miscellaneous Tax Resolution 2023. It extends the term until December 31, 2023, for those taxpayers who issue the CFDI with Carta Porte supplement to comply with all the requirements contained in the “Instructions for filling out […]
On 14 June 2023, the government bill Tax Amendment Act 2023 – AbgÄG 2023 was approved amending The Insurance Tax Act 1953. The amendment enables third country domiciled insurance companies to register and settle Insurance Premium Tax (IPT) liabilities directly with the Austrian tax authority. Previously it was the responsibility of the policyholder or an […]
The German Federal Ministry of Finance has made draft amendments to Value Added Tax Law (Umsatzsteuergesetz, “UStG”) in order to implement mandatory e-invoicing. In April 2023, The German Federal Ministry of Finance sent a discussion proposal for the introduction of mandatory B2B e-invoicing to significant German business associations, asking for input. In June 2023, the […]
Costa Rica: As of July 1 Costa Rica’s tourist services charge the general rate of 13% of the Value Added Tax (VAT). The Law of Attention to the Tourism Sector on the occasion of the Covid-19 Emergency, provided for a differentiated treatment in the collection of VAT to the economic activities of tourism due to […]
Portugal has officially postponed the mandatory B2G electronic invoicing obligation for small, medium and microenterprises, once again. Although B2G e-invoicing became mandatory for SMEs on 1 January 2023, the Law Decree no. 54/2023 postpones the obligation granting taxpayers a new deadline for compliance. The postponement was announced during the Press conference of the Council of […]
7/13/2023 Maine Governor signed the fiscal year 2024-2025 budget bill, LD 258, into law on July 11, 2023. This legislation amends the Service Provider Tax. Beginning January 1, 2025, services related to certain community support, home support, and private nonmedical institutions are no longer subject to the Service Provider Tax. Further information concerning the legislation […]
7/10/2023 Ohio’s Governor signed fiscal year 2024-2025 budget bill, HB 33, into law on July 3, 2023. The legislation provided for numerous changes to Ohio law including new sales & use tax exemptions. Beginning October 1, 2023, certain baby products such as children’s diapers, cribs, strollers, and child therapeutic creams or wipes will be exempt […]
7/7/2023 Pursuant to Presidential Decree No. 7346, published in the Official Gazette on July 7, 2023, the standard VAT rate in Türkiye will increase from 18% to 20% and the reduced VAT rate on certain products will increase from 8% to 10% effective July 10, 2023. The Official Gazette may be found here (in Turkish).
The project teams within the Ministry of Finance working on the development of the Fiscalization 2.0 system in Croatia, have been in touch with the Italian and French e-invoicing experts to hear their experiences from the implementation of these two countries’ CTC systems. The Ministry could be inspired by one or a combination of the […]