Regulatory Analysis
The Federal Ministry of Finance has released guidance related to a VAT exemption on storage fees for frozen reproductive material. When frozen gametes are stored for therapeutic purposes – such as contributing to a pregnancy as part of fertility treatment – the storage fee is properly VAT exempt. Absent a direct therapeutic purpose, however, storage fees for […]
The Italian Tax Authorities issued Resolution No. 87/E on July 5, 2017, confirming that a taxable person may amend a previously filed communication even after the 15th day following the day on which the deadline expires. The communication must include sales invoices issued and purchase invoices recorded in the VAT ledger during the period of […]
The Financial Administration of the Czech Republic recently published amended filing instructions for the “Kontrolní hlášení”, or the “Check Report” form, which is a required filing for all taxable persons under the Czech VAT Act. Among the changes to the instructions is, first, a new requirement for contract companies (partnership-structured entities) to now file by individual partner instead […]
Earlier this month, bill number 34755, which would modify the treatment of vouchers under the Dutch VAT Act, was introduced to the Dutch Parliament. The proposed law would differentiate between single use vouchers, defined as vouchers where the place of supply and amount of VAT on the supply are known at the time of the voucher’s issuance, […]
Hungary has continued to release additional information about its upcoming invoice reporting requirements. Starting on July 1, 2018 VAT registered persons will be required to report B2B invoices of over 100,000 HUF to the government. The National Tax and Customs Authority (NAV) launched the KOBAK program at the beginning of July 2017. Registered persons can use […]
The Danish Customs and Tax Administration (SKAT) has announced a limitation on the VAT exemption for supplies of blood plasma. Previously, the SKAT had allowed for exemptions on all deliveries of the human blood plasma. Going forward this exemption will no longer apply to supplies of plasma to companies intending to use the plasma in […]
Getting a VAT refund has become simpler for suppliers registered in Romania under the MOSS scheme. In the past, taxable persons established outside the EU who supplied electronic services in Romania were required to appoint a tax representative. But on July 13th, the Fiscal Administration (ANAF) released a press release announcing that in accordance with […]
The IRS has updated the instructions for Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals). There are a number of changes from the previous revision: Some minor updates made to Form W-8BEN to conform with Form W-8BEN-E. Instructions have been updated to reflect temporary and final […]
The Connecticut Legislature has passed new legislation that will move up certain Form 1099 deadlines and require additional Form 1099 reporting. Some of the essential changes can be found below. Effective January 1, 2018, Connecticut will require payers of pensions or annuity distributions, including distributions from an employer pension, an annuity, a profit-sharing plan, a […]
The Mexican Tax Administration Service (SAT) has published additional AEOI material, including a calendar with relevant deadlines and specifications for CRS transmittals. The AEOI Calendar indicates that the FATCA and CRS testing window will now end on July 14, 2017. At that time, the production period will begin – with reports being due to SAT […]
Delaware recently amended legislation pertaining to information returns, and part of this legislation advances the filing due date for 1099-MISC forms reporting non-employee compensation in Box 7. This brings the filing deadlines in line with the federal calendar. 1099-MISC forms with Box 7 checked will now be due on January 31, 2018 for Tax Year […]
The Missouri Department of Revenue (DOR) implemented a new integrated tax system for filing the 53-1 (Sales and Use Tax Return form), 53-C (Consumers use Tax Return form) and 53-V (Vendors Use Tax Return form). The new standards are for use after August 1, 2017. The system will provide the DOR the ability to scan […]
Kansas has updated Publication KW-100, Kansas Withholding Tax Booklet. There are a number of changes from the previous revision: Kansas passed Senate Bill 30 and amended the income tax rates in Kansas retroactive to January 1, 2017, and further increases them for 2018 and later years. Because the tax rates for Tax Year 2017 changed […]
Maine recently enacted legislation which will require remote sellers to collect and remit sales and use tax on sales into the state of Maine effective October 1, 2017. A person selling tangible personal property, products transferred electronically or services for delivery into Maine will be required to collect sales tax if the person’s sales into Maine in the previous calendar […]
Effective July 1, 2017, the Minister of Finance in Malaysia announced that four groups of supplies will now be exempt from GST. The supplies that no longer apply GST include: The supply of services directly in connection with goods for export, to an overseas customer who belongs in a country other than Malaysia (for tax purposes), and […]
The Australian Parliament recently amended the GST Act of 1999, to add an additional category of drugs and medicine preparations, which are now included in the list of GST-free goods seen in section 38-50(6)(b) of the Australian GST Act. The new section, 38-50(6)(ba), states that a supply of a drug or medicinal preparation is GST-free, if […]
On July 13, 2017, the parliament of the United Kingdom, along with Her Majesty’s Revenue and Customs (HMRC), announced that the roll-out of the ‘Making Tax Digital for Businesses’ will be delayed until April of 2019. This initiative, first decided upon in December of 2015, is an effort by the government of the U.K., to digitize […]
Effective August 1, 2017, the State of Washington will extend its retail sales tax to sales of bottled water. The sales tax expansion is part of a revenue bill (HB 2163) passed to raise funds for the recently enacted state budget. Bottled water was taxable until 2004, and was then tax exempt for the next […]