Regulatory Analysis

Posted September 12, 2023 by Paul Ogawa
IRS Releases Revised Form W-2C

This month, the IRS released the first W-2C update since 2014. Aside from Copy A, W-2C is now fillable. There were several changes to the Copy D Employer Instructions. Employers are cautioned against sending IRS.gov printed forms to the SSA. A reference to the old 250 form electronic filing threshold was removed and replaced by […]

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Posted September 12, 2023 by Paul Ogawa
Maine Follows New Electronic Filing Threshold

In a recently released Maine Tax Alert, Maine Revenue Services announced that the electronic filing threshold for information returns will be lowered from 250 returns to 10 aggregate returns, beginning with returns filed in 2024. Maine law adopts the federal electronic filing thresholds. Earlier this year, the new federal electronic filing threshold of 10 aggregate […]

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Posted September 11, 2023 by Paul Ogawa
Missouri Releases 2023 Employers Tax Guide

Missouri recently released its Employer’s Tax Guide for Tax Year 2023. This guide contains general information regarding filing and payment of withholding taxes for Missouri employers. Additionally, the publication contains the updated tax withholding tables. The only change is that when there is an overpayment on a withholding account, employers must submit Form 4854 requesting […]

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Posted September 8, 2023 by Jesse Rooney
Minnesota Revises Form W-4MNP

Minnesota has revised its Form W-4MNP, “Minnesota Withholding Certificate for Retirement Account, Pension, or Commercial Annuity Payments.”  The form is used by payees to indicate desired withholding for the payment types in question. The revised form is simplified to reflect state law changes that permit more flexibility for payees who can now request any rate […]

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Posted September 8, 2023 by Radhika Akhil
Nebraska Updates Commercial Agriculture Exemption

9/7/2023 Earlier this year, Nebraska Governor Pillen signed LB 727, which among other provisions, added “net wrap, baling wire, and twine” as part of the commercial agriculture exemption. Twine is defined as “a strong string of two or more strands twisted together used in the baling of livestock feed or bedding”. This amendment is set […]

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Posted September 8, 2023 by Jesse Rooney
Pennsylvania Publishes Personal Income Tax Bulletin 2023-01

Pennsylvania has published Tax Bulletin 2023-01.  This document clarifies 1099-MISC and 1099-NEC reporting and withholding instructions. The document clarifies when Forms 1099-NEC and 1099-MISC, particularly noting that Pennsylvania requires reporting of these forms when federal reporting is required.  Previously, direction for reporting of these forms was required when reporting compensation for services performed by state […]

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Posted September 7, 2023 by Kelly Muniz
Bizkaia: Draft to Postpone Batuz obligations for SMEs under discussion

The Bizkaia Tax Authority has published information regarding a possible postponement of the Batuz obligation for small and medium-sized companies, micro-enterprises, self-employed workers, small-sized cooperatives, or non-profit entities. A draft law is under discussion for this purpose. As it is still a draft, it needs to be officially published in order to become effective. The […]

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Posted September 6, 2023 by Joanna Hysi
Germany: Federal government approved draft act on B2B e-invoicing mandate

On August 30, 2023, the German Federal Government approved the draft act (Growth Opportunities Act) published by the Ministry of Finance (BMF) on July 14, 2023, which includes, among others, the introduction of the nationwide B2B e-invoicing mandate. This marks the onset of the legislative process for the adoption of the draft act by the […]

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Posted August 21, 2023 by Dilara İnal
Saudi Arabia: New taxpayer group in scope of Phase 2 of e-invoicing announced

The Saudi Arabian Tax and Customs Authority, ZATCA, announced the eighth wave of Phase 2 of e-invoicing. The eighth wave covers taxpayers with at least SAR 40 million (app. USD 10 million) revenue subject to VAT for 2021 or 2022. Taxpayers within this group are expected to integrate as of March 1, 2024. Phase 2 […]

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Posted August 17, 2023 by Maria del Carmen
PANAMA: This July 31 was the deadline for those companies that provide goods and services that contract with the Government institutions to request their exception to the implementation of the Electronic Invoicing System.

Through Resolution 201-5160a, the tax authority established that on July 31, 2023, expired the deadline for request in a justified manner the exception to the Electronic Invoicing System, for those companies that provide goods and services to the Government. This request will be subject to a resolution of the General Directorate of Revenue in which […]

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Posted August 11, 2023 by Andrew Decker
Washington Exempts Mobility Enhancing Equipment

8/10/2023 Earlier this year Washington state enacted Substitute Senate Bill 5218 (Chapter 319 of Session Laws of 2023). This new law exempts sales of mobility enhancing equipment to critical needs patients from sales and use tax. Washington defines critical needs patient as an individual with a diagnosis or medical condition that results in significant physical […]

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Posted August 11, 2023 by Robert Pelletier
Fiji: VAT Rate Increase to 15% From August 1, 2023

As announced in Fiji’s National Budget for 2023-2024 by the Fiji Revenue and Customs Service, the standard VAT rate increased from 9% to 15% for all non-zero-rated items beginning on August 1, 2023. The budget announcement can be found here.

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Posted August 11, 2023 by Gabriel Pezzato
Romania: Return D300 has been updated

ANAF updated the return D300 in response to the enactment of Law 88 from April, 2023. This legislative amendment introduced VAT exemptions with right of the deduction to construction services supplied to hospitals, as well as certain supplies of medical equipment and orthopedic products. To align with the new amendment, the revised D300 requires taxpayers […]

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Posted August 7, 2023 by Marta Sowińska
Poland: Law introducing mandatory e-invoicing via KSeF is enacted

On August 4, 2023, the Polish President signed an Act amending the VAT Act and certain other laws which introduces mandatory e-invoicing via KSeF. This means that the e-invoicing mandate will enter into force on July 1, 2024, without any further postponements. The press information can be found here and the official announcement from the […]

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Posted August 7, 2023 by Marta Sowińska
Poland: Draft regulation amending secondary regulation on the use of KSeF is published

The Ministry of Finance published a draft regulation amending the regulation on the use of KSeF from December 27, 2021, which is applicable to the voluntary phase of the e-invoicing system via KSeF. The draft regulation is open to public consultation until August 18, 2023, for businesses to submit their comments. The amended regulation on […]

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Posted August 7, 2023 by Marta Sowińska
Poland: updated API published for schemas FA(1) and FA(2)

The Ministry of Finance published an updated API for the test environment in KSeF (National E-Invoicing System) which supports both FA(1) and FA(2) schemas. From July to August 2023, both schema versions, meaning both FA(1) and FA(2), will apply in the KSeF test environment. The official announcement can be found here: API KSeF dla środowiska […]

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Posted August 7, 2023 by James Brown
Denmark: Extension of Danish Guarantee Fund to Life Insurers Writing Occupational Accident Insurance

The Act on Guarantee Fund for Non-Life Insurance Companies, executive order no. 2067, has been amended recently by Act no. 480. The main change is that the scope of insurance companies liable to make contributions to the Guarantee Fund in Denmark has been extended to include life insurers writing occupational accidental insurance / industrial injury […]

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Posted August 2, 2023 by Dilara İnal
France: Updated External Specifications for e-invoicing and e-reporting published

On 31 July 2023, the French authorities published an updated version of the ‘External specifications file for electronic invoicing’, version 2.3, currently available only in French. The version 2.3 introduces new chapters and removes use case explanations which are now published as a separate new document. It also updates annexes which are attached as Excel […]

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