Regulatory Analysis

In South Korea, e-invoicing has been mandatory for all corporate businesses since 2011. From 2012, individual businesses (entrepreneurs) have also been required to comply with e-invoicing obligations if they meet the threshold limits which have been updated a couple of times over the years. Currently, an individual business whose aggregate supply value (including transactions that […]

2/4/2022 Maryland recently published an updated List of Tangible Personal Property and Services Subject to Sales Tax. The guidance clarifies that sales of respirators such as KN95 and N95 masks and infectious drug tests including covid tests are exempt products that fall under the state’s disposable medical supplies sales tax exemption. To review the full […]

Resolution 105/2021 issued by the tax administration of Paraguay (SET) establishes the new schedule of implementation of the electronic invoice in that country. This new resolution substitutes the provisions of previous resolution 95/2021 establishing a new calendar for the deployment of the e-invoicing mandate using the SIFEN platform (National Integrated System of Electronic Invoicing). For […]

Towards the end of last year, the tax authority in Turkey published a draft communique that expands the scope of e-documents in Turkey. After minor revisions, the draft communique was enacted and published in the Official Gazette on 22 January 2022. With the communique, the current gross sales revenue threshold for mandatory e-fatura and e-delivery […]

On January 18, the NAIC released the Annual Statement Disclosure Checklists for year-end 2021 reporting. The NAIC provides four different checklists for different statement types: Health, Life/Fraternal, P&C and Title. To view the checklists, go to the Statutory Accounting Principles Working Group’s webpage. Once the page has loaded, click on the “Documents” tab in the […]

We have previously reported that as of 1 July 2022, Romanian taxpayers will be required to use the CTC e-invoicing system e-factura (regardless of whether or not the recipients are registered in the Romanian e-Invoice register), for B2B transactions involving products with high fiscal risks. The National Agency For Fiscal Administration has today issued an […]

Wisconsin recently released a new update to Publication 117, the Guide to Wisconsin Wage Statements and Information Returns. Aside from updating the revision date from September to October of 2021, the only notable change to the publication was the removal of Form W-2G from the list of forms that can be filed electronically in the […]

The legislation on the use of KSeF, which the Ministry of Finance presented in November as a draft regulation, was published in Poland’s Official Gazette on 30 December. The published regulation includes provisions regarding the following topics: Categories of authorizations Methods of granting, changing, or withdrawing authorizations to use the KSeF Information required to be […]

The Government Emergency Ordinance (GEO) no. 130/2021 was published in Romania’s Official Gazette on 18 December. The legislative act includes significant changes with respect to the fiscal-budgetary measures, including the roll-out date for B2B e-invoicing and the introduction of the e-transport system. According to the GEO 130/2021, in B2B transactions involving products with high fiscal […]

The Serbian Minister of Finance has announced that the Law on Electronic Invoicing will be amended to delay the go-live for mandatory B2G e-invoicing. Both private sector suppliers and public sector buyers are given an additional period until 1 May to prepare before being required to issue and receive B2G e-invoices. These proposed changes are […]

Previously due to replace the Esterometro in January 2022, the FatturaPA for cross-border flows has been postponed until July 2022. The Italian authorities have not published further details, therefore the status quo remains. In practice, this means that: – Esterometro must still be used for reporting outbound and inbound cross-border transactions until 30 June 2022; […]

On December 13, 2021, Massachusetts Governor Charlie Baker signed (in part) Bill H.4269 “An Act Relative to Immediate Covid-19 Recovery Needs” into law. This new legislation, in effect, codifies and make permanent the safe harbor rule for advanced payments of sales and use tax, and room occupancy tax that was set to expire January 1, […]

The Chinese e-invoicing pilot program, which has gradually been expanded in its new form since January 2021, has now welcomed a new batch of cities into the program. The updated version of the Chinese CTC e-invoicing pilot program, which is intended to allow businesses to issue e-invoices as well as to receive and verify them […]

TRA published an announcement which provides updates on the UBL-TR Guide and E-Fatura package on 25 November 2021. According to the announcement; A new code (337) was added to the complete list of exemption codes in the UBL-TR guide. A code (650) was removed from the list of codes (page 13) in the UBL-TR guide. […]

According to a newly published decree (No: 619-2021), second group of companies registered at the Joint-Stock Department and Investment Department in Cairo are required to join the e-invoice system as of 15 February 2022. This decision was preceded by decree (No:443-2021) in September which obliged the first group of registered companies at the Joint-Stock Department […]

It is expected that EU finance ministers will adopt a proposed revision to the EU VAT Directive at the upcoming Economic and Financial Affairs Council meeting on 7 December 2021. The amendment would amend the list in Annex III of the VAT Directive of products and services eligible for a reduced VAT rate. The proposal, […]

The Argentinean tax administration (AFIP), along with the Customs Administration (DGA) and the Productive Development Ministry, has informed that effective November 1, 2021, the new “Exporta Simple 2.0” Platform is in full production mode. According to the news release from the AFIP, the main changes under this new version of the system are related to […]

The tax administration of Uruguay (DGI) has informed the latest versions of the technical standard, and the XSD of the electronic invoice that previously were in testing status, are now being considered as officially published, meaning that they are now in production mode. The new version can be found here.