Regulatory Analysis
Effective 1 January 2023, non-alcoholic beverages intended for human consumption, excluding water, fruit and vegetable juices, and milk, will apply the standard VAT rate of 19%. Restaurant and catering services, except for alcoholic beverages and non-alcoholic beverages that now apply the standard rate, will apply the reduced VAT rate of 9%. These rate changes, as […]
The Greek Tax Authority – IAPR announced on 30 November that VAT returns will be pre-filled using the data collected through the MyDATA system. The measure aims to simplify the filing process of VAT returns. The announcement states that the pre-filled returns will be available for Greek taxpayers starting from 5 December 2022 and will […]
The Greek Tax Authority, IAPR, published a press release on 1 November, announcing the extension of the deadline until 31 December 2022 for the transmission of accounting data of wholesale transactions, data of invoicing expenses, and self-invoicing income in the cases of discrepancies in the aforementioned transmitted data.
As previously announced, the Serbian Minister of Finance published the Draft Law on Amendments to the Law on Electronic Invoicing on the 9th of November, alongside the Draft Laws on Amendments to the Law on Value Added Tax, Law on Fiscalization, and Law on Tax Procedure and Tax Administration. The changes introduced to the Law […]
On 21 September, the Greek Parliament passed a bill introducing penalties for non-compliance with rules requiring taxpayers to transmit retail sales data issued via the Information System of Electronic Tax Mechanisms (F.I.M). According to Article 54H of the Tax Procedures Code, IAPR will impose the following penalties for non-transmission of the receipt summary to the […]
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 […]