Regulatory Analysis

Posted October 18, 2024 by Bradley Feimer
White Mountain, Alaska Increases Sales Tax Rate Effective December 1, 2024

The Alaska Remote Seller Sales Tax Commission recently announced White Mountain, Alaska has increased their sales tax rate from 1% to 3%. The rate increase will be effective December 1, 2024.

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Posted October 18, 2024 by Edit Buliczka
Denmark: Change of Rates for Guarantee Fund Contributions From 2025

On 10th September 2024, the Danish Guarantee Fund (DGF) issued an order concerning the rate of contributions payable by insurers for 2025. The following non-life consumer policies will be subject to DKK 10 contribution: Family insurance policies Homeowners insurance policies Health insurances Change of ownership insurances Seller liability insurances Building/Construction damage insurance Motor insurance policies […]

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Posted October 16, 2024 by Inês Carvalho
Belgium: List of Compliant e-Invoicing Solutions Published

On October 15, 2024, the Belgian authorities published a list of compliant software solutions that enable taxpayers to send, receive, and process structured electronic invoices. From 2026, all Belgian VAT-registered entities will be required to use structured electronic invoices for domestic B2B transactions. Sovos is recognized as one of the compliant software providers on this […]

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Posted October 16, 2024 by Inês Carvalho
Germany: Ministry of Finance Publishes Finalized Guidelines on B2B E-invoicing

On October 15, 2024, the German Ministry of Finance (MoF) published the finalized guidelines on the upcoming B2B e-invoicing mandate, confirming the announced roll out date of January 2025. The final guidelines have not changed the key requirements established by the Growth Opportunities Act, instead confirming the content of the draft guidelines published earlier this […]

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Posted October 16, 2024 by Inês Carvalho
France: Important Updates on the French e-Invoice Mandate

On October 15, 2024, the French Tax Administration (DGFIP) announced  a major change regarding the Public Portal (‘PPF’), marking a significant shift in the country’s e-invoicing landscape. The DGFIP stated that the PPF will no longer function as a free e-invoice exchange platform, discontinuing its plan to serve as a no-cost Partner Demateriarialization Platform (‘PDP’).  […]

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Posted October 11, 2024 by Carolina Silva
Portugal: Postponement of Qualified Electronic Signature Requirement and Accounting SAF-T Proposed

The 2025 Draft State Budget once again proposes delaying the implementation of the qualified electronic signature requirement as a method to establish the presumption of integrity and authenticity for e-invoices. Initially expected to be enforced on January 1, 2025, this requirement is now addressed in the 2025 Draft State Budget. Following the official publication of […]

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Posted October 10, 2024 by Bradley Feimer
Alaska: ARSSTC Removes 200 Transaction Threshold for Economic Nexus Effective January 1, 2025

As a part of amendments to the Alaska Remote Seller Uniform Code for ARSSTC member jurisdictions, the 200 transaction threshold for economic nexus will be removed effective January 1, 2025. From such date, a remote seller has economic nexus if their gross sales for products or services delivered in Alaska meets or exceeds one hundred […]

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Posted October 9, 2024 by Kellianne Munichiello
Revenu Québec Releases RL-3 for 2024

Revenu Québec recently released the RL-3 (Investment Income) for tax year 2024 through Revenu Québec’s Partner program, which provides early access to forms for product developers and other tax professionals. On Copy 1 of the RL-3, the revision date has been updated. On Copy 2, there are several changes related to the capital gains inclusion rate […]

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Posted October 9, 2024 by Kellianne Munichiello
Missouri Releases 2024 1099 Electronic Filing Specifications

Missouri recently released the 2024 Employer Reporting of 1099 Instructions and Specifications Handbook. The tax year has been updated throughout. The CF/SF guidance has been updated to clarify that only filers who have never been approved to participate in CFS (through IRIS or FIRE) are required to submit a copy of the IRS approval letter […]

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Posted October 9, 2024 by Robert Beck
IRS Releases Update to Publication 1220

The IRS recently updated its Publication 1220. The first version for 2024 was released last week on September 19, 2024. This week, an updated version was released with two changes to the document. A previously omitted section for the Zip Code field positions for the “B” Record of Form 1099-LTC was added, and some new […]

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Posted October 9, 2024 by Jesse Rooney
IRS Releases E-Filing Direction for Affordable Care Act Returns

 The IRS has revised Publication 5165, “Guide for Electronically Filing Affordable Care Act (ACA) Information Returns.”  The document provides guidance on electronic filing of ACA returns to the IRS.  In addition to expected updates to years referenced, there are a number of changes.  Additional direction on retrieving acknowledgements has been provided.  These step-by-step instructions detail […]

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Posted October 9, 2024 by Robert Beck
IRS Releases 2024 Publication 1187

The IRS recently released its 2024 Publication 1187, the Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. This publication is updated at least annually with later changes occurring occasionally. There were few substantive changes in the publication this year, the only notable one being the use of field […]

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Posted October 7, 2024 by Edit Buliczka
Ireland: Contributions to Motor Insurers Insolvency Compensation Fund (MIICF) Ends From 2025

On 1st of October 2024, the Irish Motor Insurance Bureau (MIBI) announced that in 2025 the contributions payable by the insurance companies to the Motor Insurers’ Insolvency Fund (MIICF) will end from 1st January 2025. The reason for this statement, published on their website, is that MIBI’s expects the value of the fund to exceed […]

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Posted October 4, 2024 by Bradley Feimer
Sitka, Alaska Approves Sales Tax Free Days

The City and Borough of Sitka Assembly has approved a resolution declaring November 29th & November 30th, 2024, as sales tax free days. This tax holiday applies to all sales made within the City and Borough, except any sale of fuel, alcoholic beverages, tobacco products, marijuana, and any sale which is part of a continuing […]

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Posted October 2, 2024 by Talent Gwaindepi
Egypt: Mandatory Tax ID and UIN Validation for B2B Sales

As of 1 November 2024, businesses conducting B2B sales in Egypt must validate their buyer’s Tax ID and a newly introduced Unique Identification Number (UIN) through a new digital system. The dual validation process, essential for zero-rated transactions, is intended to strengthen VAT compliance and reduce VAT fraud under the VAT reverse charge mechanism. The […]

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Posted October 1, 2024 by Victor Duarte
Saudi Arabia: New Taxpayer Group in Scope of Phase 2 of e-Invoicing Announced

The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 16th wave of Phase 2 of the e-invoicing initiative. The 16th wave includes taxpayers with a revenue of at least SAR 3 million (approximately USD 800.000) subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of April 1st, 2025. Phase […]

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Posted October 1, 2024 by Talent Gwaindepi
Serbia: Draft Law Introducing Mandatory e-Transport System

The Ministry of Finance in Serbia has released a draft Law on Electronic Goods Delivery Notes introducing the mandatory e-Transport system. The draft law is aimed to be adopted in the second quarter of 2025. The draft law regulates mandatory sending, receiving, processing, rejecting, accepting, and presenting electronic delivery notes, for each movement of goods, […]

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Posted September 30, 2024 by Talent Gwaindepi
India: GST to Launch a New Invoice Management System (IMS)

From 1 October 2024, a new functionality called the Invoice Management System (IMS) will be launched on the GST (Goods and Services Tax) portal. The IMS will allow taxpayers to accept, reject, or mark an invoice received as pending. The functionality will be available for regular taxpayers and taxpayers using the Quarterly Return Monthly Payment (QRMP) […]

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