Regulatory Analysis
Exciting news out of Israel as the government approved the 2023-2024 budget on 24 February 2023 to introduce a Continuous Transaction Control (CTC) model in their tax system. This is a long-awaited move that will have significant implications for businesses operating within the country. The new plan, which was prepared by the Ministry of Finance […]
On the 16th February 2023, the Polish Ministry of Finance organized a conference to discuss upcoming changes to the draft bill introducing mandatory e-invoicing in Poland. While the legislative process is still ongoing, and will most likely last until June/July 2023, the Ministry of Finance has presented changes that are planned to be included in […]
The Swedish Agency for Digital Government (DIGG) would like mandatory e-invoicing to be introduced in Sweden. DIGG has, together with the Swedish Tax Agency and the Swedish Companies Registration Office, submitted a request that the Government research conditions for mandating e-invoicing in B2B flows as well as G2B flows (to be added to the current […]
According to an official announcement by the Ministry of Finance published on 2 February 2023, the go-live date of the mandatory e-invoicing system in Poland will be postponed from 1 January 2024 to 1 July 2024, giving taxpayers 6 more months to prepare for the new e-invoicing obligation. The VAT-exempted taxpayers will have time to […]
The French authorities published the updated version of the ‘External specifications file for electronic invoicing’. The new specifications introduced additional mandatory e-invoicing data, new and modified cases of use, amended frequency for e-reporting, retention of invoices by the public billing portal and other new explanations as well as examples for XML files.
The Saudi Arabian Tax and Customs Authority, ZATCA, has recently changed its approach to voluntary participation in Phase 2 of e-invoicing. Previously it has not been allowed to voluntarily start the implementation of Phase 2, however, with the update of the guideline published in December 2022, taxpayers now have the option to start following Phase 2 […]
On 18 January 2023, the Botswana Ministry of Finance issued a public notice that the temporary reduced standard VAT rate of 12% is extended to 31 March 2023. The public notice can be found here.
From 1 January 2023, changes have been made to how the Financial Ombudsman and its office are financed. The Ombudsman Act (2015/1348) was revised by the Act of 2022/2640, which also abolished prior regulations. The new rules don’t specify advance payments, and both filing and payment are annual. The annual fee is based on the […]
Effective 1 January 2023, Ghana has removed the VAT exemption from imported textbooks, imported newspapers, architectural plans and similar plans, drawings, scientific and technical works, periodicals, magazines, trade catalogues, price lists, greeting cards, almanacs, calendars, diaries and stationery and other printed matter. The Value Added Tax Amendment Act, 2022 can be found here.
The National Tax Administration Superintendence has published an update of the validation rules CPEv20221111 for electronic payment receipts.
The Ghana Revenue Authority (GRA) announced the standard Value Added Tax (VAT) will increase by 2.5 percent. The standard VAT rate will be increasing to 15% from 12.5% effective 1 January 2023. The VAT amendment can be found here.
The Zimbabwe Revenue Authority announced the standard Value Added Tax (VAT) will increase by 0.5 percent. The standard VAT rate increased to 15% from 14.5% effective January 1, 2023. The public notice can be found here.
The Greek Tax Authority (IAPR) has released an update to its MyDATA requirements with the publication of decision A. 1188/2022 on December 31, 2022. This new decision includes important changes to the transmission deadlines and sector-specific requirements for electronic data transmission to IAPR, as well as other updates to the MyDATA requirements. Here are some […]
On May 5, 2020, Belgium temporarily applied a reduced rate of 6% to supplies, intra-Community acquisitions and imports of mouth masks. The Council of Ministers extended this reduced rate on masks until 31 December 2022. Beginning 1 January 2023 masks will return to being standard rated. The circular can be found here.
The 2023 French budget (2022-1726 of December 30, 2022) was published on 30th December 2022. Among several changes in the tax legislation, there was a change in the so-called Rural and Maritime Fishing Code. This Code regulates the additional contribution on premium amounts that relates to insurance agreements on agricultural operations covering Damage to buildings […]
The Norwegian Tax Authority have released the new tax rates for the Road Traffic Insurance Tax, the increase in the rates will come into effect from 1st March 2023. As before, the rates vary depending on the type of vehicle as displayed below: Type of Vehicle Traffic insurance contract that is taken […]
The Hungarian government published a new decree (No. 258/2022) on 24 December 2022. It was enforced on 25 December 2022 and modifies the initial government decree (No. 197/2022) regarding the imposition of extra profit taxes. It’s the second revision to the initial decree within six months that changes the requirements for the so-called insurance extra […]
Bulgaria has extended the temporary reduced VAT rate in Bulgaria due to Covid-19 through Decree No. 304 as published on 23 December 2022. The 9% reduced VAT rate has been temporarily extended until 31 December 2023 on restaurant and catering services consisting in the delivery of prepared or unprepared food. The reduced rate of 9% […]