Regulatory Analysis
Montana recently released the 2025 Employer and Information Agent Guide. There are several significant changes. Most notably, beginning in 2026, taxpayers required to file form 1099-DA (Digital Assets) with the IRS will be required to file form 1099-DA with Montana. Form 1099-DA is a new federal form that will be used to report digital asset […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 20th wave of Phase 2 of the e-invoicing initiative. The 20th wave includes taxpayers whose revenues subject to VAT exceeded (SAR 1. 5 Mn) (approximately USD 399K) during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of October 31, 2025. Phase 2 of the e-invoicing […]
The Ministry of Finance in the UAE announced on 6 February 2025 the launch of a Public Consultation on eInvoicing. This initiative aims to gather feedback from stakeholders on the proposed eInvoicing data requirements, ensuring transparency and alignment with industry needs. The Ministry of Finance hopes to: Establish a common understanding of data elements used […]
Slovenia has introduced a new obligation for all VAT-registered taxpayers to prepare and submit VAT ledgers in addition to the existing VAT return requirements. This new reporting requirement will take effect from 1 July 2025. Taxpayers will be required to submit separate ledgers for output and input transactions. The VAT ledgers must be submitted monthly, in […]
The Italian Revenue Agency (Agenzia delle Entrate) has announced important updates to the Italian mandatory e-invoicing “FatturaPA” technical specifications and schemas. The technical documentation has been updated to version 1.9 and will be effective from 1 April 2025. A summary of the main changes introduced by this updated version are as follows: · Introduction of Document […]
Belgium’s new coalition government has announced plans to introduce a complementary reporting requirement alongside the existing B2B e-invoicing mandate. With the current e-invoicing system operating through the 4-corner Peppol network, there was speculation that a 5-corner model would follow. The recent announcement confirms this, stating that e-invoicing systems, cash registers, and payment systems will be […]
Jordan is moving forward with the implementation of its mandatory e-invoicing system, the National Billing System (NBS), which allows businesses and professionals to electronically issue and manage invoices. The NBS provides a platform for users to generate invoices directly or integrate with the system via API, streamlining the invoicing process and enhancing compliance with tax […]
Serbia has published amendments to the Value Added Tax (VAT) Law introducing pre-filled VAT returns. The law was published in the Official Gazette of the Republic of Serbia no. 94/2024. A pre-filled tax return is defined as a set of data relating to the turnover of goods, trade in services, import of goods and other transactions […]
The Norwegian Ministry of Finance announced the launch of a study into the introduction of mandatory electronic invoicing for business-to-business transactions. The Directorate of Taxes has been tasked with outlining the requirements and presenting a report by mid-June 2025. Electronic invoicing has been mandatory in the public sector since 2019. By extending this requirement to […]
The Australian Government is enhancing its commitment to increase Peppol e-invoicing in the country. This commitment is highlighted in the State Budget for 2025. The Government recognizes its role in leading the uptake of e-invoicing in Australia and aims to promote the adoption of e-invoicing by all businesses, by continuing outreach efforts and considering a […]
On January 16, the authority reported that the consumer’s information regarding the consumer’s name, surname, address and identification number (CUIT, CUIL, CDI, identity document, passport or identity card) must be included in the receipt in the following cases: When the receipt is issued for a value of $ 417,288 or more, if the payment is […]
Effective May 1, 2025, taxpayers who operate with an electronic receipt and/or electronic receipt depending on the payment method, must submit printed representation. In case of payment in cash or bank transfer, the electronic receipt. In the case of electronic means of payment, the receipt, or printed voucher. Businesses must display a poster or visible […]
Maine Revenue Services recently released a notice to lessors of tangible personal property (TPP) concerning the shift to lease stream sales taxation. The guidance provides further information as to rentals of certain motor vehicle rentals, sale price of lease and rental payments, as well as detailing the definition of TPP includes canned software. Specifically, that […]
The IRS recently released the 2025 Form 5498-ESA (Coverdell ESA Contribution Information). The changes to this version are minimal: the tax year has been updated throughout the form and instructions. Further, copy A has had some editorial changes in the right margin, including the addition of a URL that links to the landing page for […]
The IRS recently released the 2025 Form 5498-SA (HSA, Archer MSA, or Medicare Advantage MSA Information). The changes to this version are minimal, with the tax year updated throughout the form and instructions. Copy A has had some editorial changes in the right margin, including the addition of a URL that links to the landing […]
The IRS recently released the 2025 Form 5498 (IRS Contribution Information). Among the changes to the form, the tax year has been updated throughout the form and instructions. Further, a notice about the free file program has been added to the ‘Instructions for Participant’. Copy A has had editorial changes in the right margin, including […]
Michigan recently updated Form 447 (Transmittal for Magnetic Media Reporting of W-2s, W-2Gs and 1099s) and its payroll service provider webpage. Michigan plans to introduce a lower electronic filing threshold beginning with tax year 2025 returns filed in 2026. Beginning with tax year 2025 returns filed in 2026, only filers with fewer than 10 income […]
The IRS recently released the 2025 Form W-2 (Wage and Tax Statement). The form itself is relatively unchanged, aside from the tax year and OMB number. In the Notice to Employees, dollar amounts have been updated to reflect increases to the maximum annual social security withholding ($10,918.20) and maximum annual railroad retirement taxes ($6,409.20). In […]