Regulatory Analysis

Posted February 27, 2023 by Maria del Carmen
New VAT collection Regime on the sale of food and other products for human consumption.

The AFIP published the Resolution No. 5329/2023 on February 13, 2023, which among other topics set a new VAT collection regime on the sale of food products for human consumption, beverages, personal hygiene and cleaning articles. The amount of the charge will be determined by applying, on the net price of the operation resulting from […]

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Posted February 27, 2023 by Andrés Landerretche
Ecuador: Update of technical sheet of electronic vouchers Off-line scheme version 2.24

The Internal Revenue Service of Ecuador published an update of the electronic receipts technical sheet for its Off-line version. In this version the rates of certain ICE taxes are updated. Version 2.24 is available at the following link: here  

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Posted February 27, 2023 by Andrés Landerretche
Peru: Change in the deadline for sending the electronic invoice.

Through Resolution No. 000003-2023, the National Superintendence of Customs and Tax Administration established a new maximum delivery period of three calendar days from the day after the date of issuance, to send the invoice or the linked electronic note to SUNAT or to the Electronic Services Operator (OSE), as appropriate. The extension of the term […]

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Posted February 27, 2023 by Andrés Landerretche
Bolivia: Postponement of calendar of new group of taxpayers to implement mandatory invoicing.

With the publication of Resolution No. 102300000004, the Bolivian tax authority postponed the term indicated in Resolution No. 102200000025 of November 29, 2022, until March 31, 2023, term in which the third group of taxpayers classified by Resolution No. 102200000010 of May 18, 2022, must start issuing Fiscal Documents only through the assigned online invoicing […]

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Posted February 27, 2023 by Enis Gencer
Singapore Government to Mandate InvoiceNow for B2G E-Invoicing

On February 24th, the Senior Minister of State, Mr. Chee Hong Tat, announced that within the next few years, InvoiceNow will become the default e-invoice submission channel for all Government vendors. InvoiceNow is a nationwide E-invoicing method operating on the Peppol network that facilitates the direct delivery of invoices in a structured digital format. Singapore has been implementing […]

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Posted February 24, 2023 by Maria del Carmen
Argentina: General Resolution No. 5323/2023 Issued by the AFIP Anticipates to February 23 and 24, 2023 the Due Dates for Compliance with the Obligations of Determination and/or Payment of Value Added Tax.

Argentina: General Resolution No. 5323/2023 issued by the AFIP anticipates to February 23 and 24, 2023 the due dates for compliance with the obligations of determination and / or payment of Value Added Tax which original term was February 27 and 28 of this year. This change is according to the termination of the Unique […]

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Posted February 22, 2023 by Paul Ogawa
IRS Issues Final Regulations Updating Electronic Filing Requirements for Information Returns

The Department of the Treasury and the Internal Revenue Service (IRS) recently published final regulations updating the electronic filing requirements for specified returns and other documents. These final regulations codify required changes made by the Taxpayer First Act which was signed into law back in 2019. Effective for calendar year 2024 (impacting returns filed after […]

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Posted February 22, 2023 by Robert Pelletier
Pakistan Sales Tax Rate Increase to 18%

Pakistan approved an increase to the standard sales tax rate to 18% from 17% through the Finance (Supplementary) Bill, 2023. The Bill, as posted on the Parliament website on February 21, 2023, indicates that the rate change is effective at once. The Finance (Supplementary) Bill, 2023 can be found here.

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Posted February 22, 2023 by Andrés Landerretche
Panama: Government Establishes Implementation Phases of Electronic Invoicing for Banks and Financial Entities

Panama published Resolution No. 201-0717 of 26 January 2023 in Official Gazette No. 29712 on 31 January 2023, which regulates the phases for banks and other financial institutions to comply with the requirements to issue invoices using authorized fiscal equipment or through the e-invoicing system, Sistema de Facturación Electrónica de Panamá (SFEP), as per Law […]

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Posted February 22, 2023 by Andrés Landerretche
Panama: Government Extends the Term for the Implementation of Authorized Tax Equipment or Electronic Billing System

The Ministry of Economy and Finance of Panama published Executive Decree No. 3 of 20 January 2023 in Official Gazette No. 29706-B on 23 January 2023, which granted an extension for the adoption of electronic invoicing mechanisms for several activities that were initially required to adopt one of the mechanisms available (“fiscal equipment” or the […]

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Posted February 22, 2023 by Alec Webb
Indiana Revises 1099 and W-2G Reporting Guidance for Tax Year 2022

The State of Indiana has published a revised version of its 1099 and W-2G reporting guide for Tax Year 2022. The 1099 and W-2G reporting guide defines specifications for electronic 1099 and W-2G filing. Indiana has changed the description for Position 735-746 “Local Income Tax Withheld” in the B Record for forms 1099-B, DIV, G INT, […]

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Posted February 21, 2023 by Maria del Carmen
MEXICO: Deadline to correct payroll CFDIs issued during tax year 2022

MEXICO: Deadline to correct payroll CFDIs issued during tax year 2022. The RMF 2023 granted the facility to taxpayers who during fiscal year 2022 have issued payroll CFDIs that contain errors or omissions in their filling out or in their version may, for a single occasion, correct these, as long as the new receipt that […]

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Posted February 21, 2023 by Dilara İnal
Turkey: Mandatory Use of QR Code

The Turkish Revenue Authority (TRA) has recently announced that it will be mandatory to use the QR code on several electronic documents as of 1 September 2023. E-Fatura Invoices, e-Arsiv Invoices and e-Delivery Notes are among the e-documents announced. QR Code must meet the technical requirements set in the guideline of the TRA. E-commerce sellers […]

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Posted February 17, 2023 by Andrew Decker
Sales Tax Changes for New York Counties Coming March 1st.

Sales tax changes are scheduled to take effect in Monroe and Westchester Counties beginning March 1. Monroe County has chosen to implement the exemption for clothing sold for under $110. This aligns the county with the state level exemption, meaning that such clothes will be fully exempt from sales tax in Monroe County. For a […]

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Posted February 17, 2023 by Marta Sowińska
Poland: proposed changes to mandatory e-invoicing framework

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 […]

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Posted February 16, 2023 by Marta Sowińska
China: Expansion of the fully digitalized e-invoicing pilot program

China is expanding its fully digitalized e-invoicing (e-fapiao) pilot program, currently as of 1 January 2023 in scope to issue a fully digitalized e-fapiao are Shanghai, Guangdong, Inner Mongolia, Sichuan, Xiamen, Chongqing, Qingdao, Tianjin, Dalian, and Shaanxi provinces. Additionally, taxpayers nationwide are able to accept e-fapiao issued by the selected taxpayers in the above provinces. […]

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Posted February 10, 2023 by Inês Carvalho
Italy: Pre-Filled VAT Returns for Certain Taxpayers

From the 10th of February 2023, the Italian Revenue Agency will make available a pre-filled annual VAT return concerning the tax year of 2022. The Italian Revenue Agency will use the data of domestic electronic invoices and cross-border reports communicated to the SDI to prepare the draft VAT returns. The returns will be available on […]

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Posted February 10, 2023 by Dilara İnal
Sweden: Edges towards B2B e-invoice mandate

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 […]

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