Regulatory Analysis
From July 1, 2023 non-resident sellers of goods will have to collect 5% GST on sales of goods to customers located in the Bailiwick of Jersey. Retailers who make or expect to make annual sales of goods to non-business consumers of £300,000 or more are required to register for GST. Note that governmental guidance, available […]
The Slovakian administration once again postponed the implementation of the mandatory submission of e-invoices to the IS EFA platform for B2G (business to government) and G2G (government to government) transactions. The implementation of the B2G and G2G mandate for the government and public administration institutions as well as for their suppliers is expected to start […]
On June 29, the Ministry of Finance (MoF) published updated schema FA(2) on the ePUAP platform in the Central Repository of Electronic Document Templates (CRWDE), template number (2023/06/29/12648). Important information about timelines: July 2023– the MoF will provide the test environment for the schema FA(2). July to August 2023– both schema versions will apply in […]
New regulations were recently adopted concerning the contributions to be paid to the Romanian Guarantee Fund (Fondul de Garantare a Asiguraților). Prior to this, contributions to the Romanian NGF (now known as the NGF contribution) were only payable by domestic insurers that were authorized by the Romanian Financial Supervisory Authority (ASF), including the activity of […]
The Tax Authority (SUNAT) will not apply sanctions in case the taxpayer obliged to issue “Guias de Remision” electronically, does so physically, until December 31st, 2023. It is important to keep in mind that it is not that the start of the obligation is postponed, which is still on July 1st, however, if the taxpayer […]
6/29/2023 The Louisiana legislature has recently enacted several changes to the state’s sales tax laws. Act 171 modifies the state’s economic nexus rules. Previously remote sellers and marketplace facilitators were liable to collect Louisiana sales tax if their annual gross sales into the state exceeded $100,000 or if they made 200 separate transactions in the […]
The temporary zero VAT rate that applied to supplies of protective face masks in Austria expires on June 30, 2023. The law, pursuant to Section 28(54) of the VAT Act, can be found here.
On June 30, 2023, the Vietnamese government issued Decree 44/2023/ND-CP on the 2% VAT rate reduction from 10% to 8% lasting from July 1, 2023, until December 31, 2023. The 2% VAT reduction does not apply to various goods and services from the following sectors: telecommunications, financial activities, banking, insurance, real estate trading, metals and […]
The Saudi Arabian Tax and Customs Authority, ZATCA, announced the fifth wave of Phase 2 of e-invoicing. The fifth wave covers taxpayers with at least SAR 100 million (app. USD 26 million) revenue subject to VAT for 2021 or 2022. Taxpayers within this group are expected to integrate as of December 2023. Phase 2 of […]
Pursuant to Royal Decree-Law 5/2023 of June 28, 2023, the temporary zero VAT rate on basic food items such as bread, flour, milk, cheese, eggs, fruits, vegetables, legumes, tubers, and cereals has been extended until December 31, 2023. Please note that the temporary 4% reduced rate applied to the supply of face masks has not […]
As announced by the Polish Ministry of Finance on June 27, 2023, through an article on their news website, the zero VAT rate that temporarily applies to supplies of certain food and drinks has been extended until December 31, 2023. The article can be found here.
The European Commission (EC) published its council implementing decision proposal authorizing Germany to introduce mandatory e-invoicing derogating from the VAT Directive, 2006/112/EC. Germany requested authorization to derogate from Articles 218 and 232 of the VAT Directive to be able to impose mandatory electronic invoicing for domestic B2B transactions in Germany, on 10 November 2022. According […]
The European Commission (EC) published its council implementing decision proposal authorizing Romania to introduce a special measure derogating from the VAT Directive, 2006/112/EC. According to proposal of the EC, Romania will receive a derogation as of 1 January 2024 until 31 December 2026. On the other hand, Romania will need to make necessary adaptations in […]
Illinois Public Act 102-0700’s groceries tax reduction is set to expire on July 1, 2023. This act suspended the state 1% low rate of sale and use tax on retail sales of groceries from July 1, 2022 though June 30, 2023. Therefore, the rate for groceries will return to 1%. The relevant legislation may be […]
6/20/2023 On June 18, Texas Governor Greg Abbott signed Senate Bill 379, which will exempt wound care dressings, diapers, baby wipes, maternity clothing, breast milk pumping products, baby bottles, and feminine hygiene products beginning September 1, 2023. The exemption for diapers will include both adult and children’s diapers. Under the exemption, the term “feminine hygiene […]
The Ministry of Finance in Serbia has recently published and updated: The Rulebook on electronic invoicing: Rulebook on electronic invoicing (efaktura.gov.rs) Internal Technical Manual (16.06.23): Updated internal technical manual (16.06.2023.) (efaktura.gov.rs) Instructions for using XML files: Instructions for using XML files (05.06.2023.) (efaktura.gov.rs) Main changes introduced in the Rulebook: Replaces three regulations that were applying […]
Governor Ivey has signed HB 479 to reduce the state sales tax rate on eligible food products. The state tax rate will be reduced to 3% on September 1, 2023. If certain revenue requirements are met, the rate will be reduced to 2% on September 1, 2024. Food eligible for the reduced rate will be […]
The Spanish Government published a draft version of the Royal Decree that develops article 12 of Law 18/2022, on the creation and growth of companies with the aim of establishing the Spanish system of mandatory B2B electronic invoicing. The regulation will be effective 12 months after its publication on the Spanish official Gazzete (BOE). The […]