Regulatory Analysis
Missouri recently released its W-2 Specifications and 1099 Specifications for tax year 2022. Besides date and minor grammar changes, there were no changes to the specifications. Please see W-2 Specifications here. Please see 1099 Specifications here.
The District of Columbia Department of Revenue has released its 2022 W-2 & 1099 Specifications. A procedure for validating all W-2 & 1099 bulk file electronic submissions has been updated by the District of Columbia. This is designed to detect errors before submitting bulk files. District of Columbia has specified the threshold for Manual Online […]
The Maryland Department of Revenue has released its 2022 1099 Electronic Filing Specifications. Maryland has established the electronic filing threshold for 1099s is 25 or greater submissions. Further, Maryland encourages electronic filing of all 1099s. All 1099 electronic filings through Maryland’s Secure File Transfer Protocol server must the follow format as set in Federal Publication […]
The Montana Department of Revenue has released their 2022 Employer Withholding Guide. As of Tax Year 2023, Montana will not mail paper MW-1 Withholding Tax Vouchers. Copies of the forms must be downloaded online. Significantly, Montana has added Form 1042-S forms that must be reported to Montana with Form MW-3. The reporting due date is […]
In a late breaking release, the IRS published Notice 2023-10 which provides updated guidance for 1099-K reporting. Addressing concerns about the timeline of implementing the changes to Section 6050W through the American Rescue Plan Act and noting the potential for personal transactions to be unintentionally included, the IRS states in Notice 2023-10 that calendar year […]
The Saudi Arabian Tax and Customs Authority, ZATCA, has announced the second group required to comply with Phase 2 for E-invoicing. The second group of taxpayers are businesses with revenues subject to VAT which exceed half a billion riyals during 2021. The ZATCA will notify taxpayers in the group and this notification will provide taxpayers […]
Norway has approved amendments to the Norwegian VAT law regarding cross-border business to consumer sales of remotely delivered services. Effective 1 January 2023, non-resident suppliers of remote services (non-digital) to Norway who make supplies to non-registered persons are required to collect and remit VAT. This law change is an extension of Norway’s current VAT compliance […]
The French Parliament approved the Finance Bill for 2023 (“2023 Bill”) on 17 December 2022. It includes an amendment to Article 166 of Finance law no. 2019-1479 of 28 December 2019 for 2020. Whilst only the date has changed from 2023 to 2025, this has a huge impact on the settlement of French insurance premium […]
Kentucky recently enacted House Bill 8 which imposes a new excise tax on certain types of motor vehicle rentals. This excise tax is 6% in addition to the existing 6% motor vehicle usage tax. More information on the new excise tax may be found here.
The Colorado Department of Revenue recently published local jurisdiction sales and use tax changes. Such changes include rate changes, new taxing jurisdictions, and newly adopted exemptions. Several state-administered locals have opted into the state’s exemption for period products or incontinence products. All changes, as well as the Colorado exemption for period products and incontinence products, […]
On the 19 December 2022, the Agencia Estatal de Administración Tributaria (AEAT) published the new Modelo 480 for future submissions, including 2022, in the Spanish Gazette. Alongside this, an extension for the annual tax submission has been confirmed, with submissions allowed up to 31 January. This is a positive change as it allows for more […]
Starting January 1, 2023, California will impose a 988 Surcharge on telecommunications access lines and prepaid mobile telephony services. The 988 Surcharge will apply in addition to the existing 911 Surcharge. For more information, please consult this Special Notice.
Ireland’s Finance Act of 2022 introduces several important VAT changes for the new year. The Act imposes a zero-rate of VAT on newspapers, which were previously subject to a reduced rate of 9%, provided the papers are not predominantly devoted to advertising. This rate reduction includes electronic newspapers as well as physical newspapers. The Act […]
As approved by the Mozambique parliament on 30 November 2022, the standard VAT rate will be reduced from 17% to 16% with effect from 1 January 2023.
On November 10, 2022, Belgium published amendments to its reverse charge mechanism for immoveable property. Previously, the reverse charge mechanism applied only when the foreign taxable customer was identified for VAT purposes in Belgium via a fiscal representative. From 1 January 2023, when a Belgian established company performs construction supplies on immovable property, reverse charge […]
Effective 1 January 2023 and until 30 April 2023, the domestic supply of passenger transport services are temporarily zero-rated under Law No. 870/2022. The law can be found here (in Finnish).
The Parliament of Slovak Republic approved an amendment of the VAT law temporarily reducing the VAT rate on the transportation of people by ski lifts, sports facilities, swimming pools, and for restaurant and catering services. These supplies will apply a reduced VAT rate of 10% effective 1 January 2023. This is a temporary rate reduction […]
The Portuguese State Secretary of Fiscal Affairs issued Order 8/2022 XXIII which, among others things, establishes a grace period for invoice reporting obligations, as well as another postponement of the requirement of application of a qualified electronic signature or seal on electronic invoices. The Order establishes a grace period during which penalties that concern the […]