Regulatory Analysis

[August 9, 2019] Effective November 2, 2019, most taxpayers in Colombia will be required to transmit electronic invoices pursuant to the schema defined by Universal Business Language (UBL) Version 2.1. Specifically, the Colombian Tax Administration (DIAN) issued Resolution 000020/2019 establishing the schedule for complying with the new pre-clearance e-invoicing requirements and for upgrading to UBL […]

[August 5, 2019] On August 2, Zambia’s newly appointed Finance Minister, Bwalya Ng’andu, requested that the Sales Tax Bill be withdrawn from Parliament for consideration. The Sales Tax Bill, which was the initiative made by Zambia to shift from an existing Value Added Tax system to a new Sales Tax structure, was originally supposed to take effect […]

With effect from 1st July 2019, e-books and electronically provided magazines and journals will become subject to the lower rate of 6% VAT (the standard rate of 25% previously applied) in Sweden. This change will result in equal treatment of electronic publications and their physical equivalents under Swedish VAT law. This falls into line with […]

[June 10, 2019] The New Zealand Parliament is considering proposed changes to the GST rules for importers of “low-value” goods supplied to New Zealand consumers. Under the omnibus tax reform bill, offshore suppliers, which includes online marketplace sellers, that sell goods that are valued at or below NZD 1,000 into New Zealand, will be required to […]

[June 10, 2019] The Bulgarian Parliament introduced a new bill on the 5th June 2019 that includes various proposed changes to the Bulgarian Value Added Tax Act. Included among the changes is a new lower VAT reduced rate of 5%, which would come into effect from 1st January 2020. Under the current proposed language, the […]

Following the introduction of a voluntary split payment system last year, Poland is now proceeding with a mandatory regime to come into effect from 1st September 2019 for all payments of 15,000zl (approximately 3,500 euros) or more.  Under the scheme, which will apply to both established and non-established businesses, the VAT element of any payment, […]

Effective May 1, 2019, Polish taxpayers making B2C supplies of goods and services will be required to use online cash registers connected to the newly established Central Repository of Cash Registers. Data from the Central Repository of Cash Registers will be available to heads of tax and customs offices, directors of tax administration chambers, and the Minister […]

On 31 December 2018 a decree establishing certain tax benefits for the North Border Zones in Mexico was published in the country’s Official Journal. The benefits aim to bring some stimuli and competitiveness to taxpayers resident in the targeted area during 2019 and 2020 by reducing the rate of income tax (impuesto sobre la renta […]

On December 27, 2018, Council Directive (EU) 2018/2057 was published in the Official Journal of the European Union, and it will enter into force on the twentieth day following that date. It amends the EU VAT Directive (2006/112) to provide for temporary application of a generalized reverse charge mechanism (GRCM) relative to supplies of goods and services […]

On November 1, 2018, Decree 119/2018/ND-CP took effect in Vietnam. Pursuant to this decree some businesses may be required to switch to e-invoicing upon notification by the tax authorities. However, e-invoicing will not be mandatory until November 1, 2020.

On November 6, 2018, the European Economic and Financial Affairs Council announced the adoption of a Council Directive which allows EU Member States to align their VAT rules for physical and electronic publications.  Electronic publications are currently taxed at the standard VAT rate, while physical publications may be subject to reduced rates.  With the adoption […]

On October 26, the Polish Council of Ministers confirmed that it will introduce a new SAF-T scheme (JPK_VDEK) aimed at replacing the VAT-7 and VAT-7K declarations. The draft legislation will become available during the fourth quarter of 2018. If enacted, taxpayers will submit only one document, the JPK_VDEK file, without additional attachments. The Ministry of Finance […]

Australian Treasurer, Josh Frydenburg, has announced that the Australian Government is taking steps towards removing the 10% GST that is imposed on feminine hygiene products in Australia. Frydenburg stated last week that it was the intent of the legislature to have an exemption in place by January 1, 2019 for these products. This announcement comes ahead […]

In a press release on October 16, 2018, Her Majesty's Revenue & Customs (HMRC) announced that the previously reserved pilot program for Making Tax Digital (MTD) was expanded to a much larger pool of businesses. According to the statement, HMRC is now allowing half a million businesses to enter the pilot testing program for MTD, in order […]

The National Statistical Institute of Bulgaria announced the following Intrastat thresholds for 2019: For Intrastat reporting dispatches, the threshold was increased from BGN 260,000 to BGN 280,000.  For Intrastat reporting arrivals, the threshold was increased from BGN 430,000 to BGN 460,000.   For further information regarding this announcement, please see here.

The Peruvian Tax Administration (SUNAT) published on October 15, 2018, regulation 242-2018/SUNAT, which establishes some new obligations to Operators of Electronic Services (OSEs) and also updates the sanctions for non-compliance when applicable. According to the new regulation, OSEs are now required to post in a web page the invoices that they have validated and make […]

The Brazilian Congress is once again considering a series of tax reforms aimed at simplifying its incredibly complicated indirect tax system. The primary proposal (known as PEC 293) proposes to replace the following taxes with a nationwide VAT.   1. ICMS – state-level VAT 2. IPI – federal tax on industrialized products 3. ISS – […]

The Mexican Congress is proposing to re-establish a reduced VAT rate in the border states of Baja California, Baja California Sur, Quintana Roo, and in the municipalities of Caborca and Cananea of the state of Sonora. The new proposed rate for those regions would be 8%, applicable to transactions of goods or services made by inhabitants […]