Regulatory Analysis
New Jersey has released its electronic filing specifications for Form W-2 for tax year 2022. New Jersey largely uses the federal EFW2 standard, but has specifications for the State RS record. There are no changes to the specification for the state-specific RS record compared with last published direction from the state. To review the electronic […]
South Carolina has released its 2022 RS-1 Form. This publication provides specifications for electronically reporting forms W-2 & 1099 to South Carolina. There are no record layout changes or any other changes from last year’s publication. To Review RS-1 Form and W-2/1099 Specifications, please click here.
Idaho has released is 1099 and W-2 electronic filing guides. These publications provide specifications for electronically reporting forms 1099 and W-2 to Idaho. There are no changes to the specifications for either 1099s or W-2s. There is also no change to reporting direction. Reportable 1099s and W-2s must be filed with Idaho by February 28, […]
The Virginia Department of Revenue recently published its Web Upload – W-2, W-2C, and 1099 Guide for tax year 2022, which provides electronic filing specifications and guidance for filing information returns with the state. There were no substantive updates to the specifications or guidance in this publication. To view Guide, click here.
The Ghana Revenue Authority (GRA) announced the standard Value Added Tax (VAT) will increase by 2.5 percent. The standard VAT rate will be increasing to 15% from 12.5% effective 1 January 2023. The VAT amendment can be found here.
The new version of the CFE Format v23.3 is now in production. The document is available on the website of the General Tax Directorate of Uruguay under “Documents of Interest”. The only change in relation to version 23.2 is an adjustment in the wording of the description of field B.2: Type of Code related to […]
The IRS recently confirmed a printed error in their most recent release of Publication 1220, which contains guidance and electronic reporting specifications for 1099 forms and other information returns. In the December 2022 release of Publication 1220, the IRS published a table of state codes for the Combined Federal/State Reporting (CF/SF) system which included newly […]
On December 29, 2022, President Biden signed the Omnibus Bill (HR 2617) also known as SECURE ACT 2.0. The new law includes provisions that will incrementally increase the required beginning date for Mandatory Distributions for Individual Retirement Accounts. In most states, for purposes of unclaimed property, the dormancy trigger period is delayed until the requirement […]
The Gipuzkoa Tax Authority in the Basque Country announced that The TicketBAI obligation does not exempt taxpayers from complying with SII requirements. However, it is clarified that the data sent by TicketBAI will be understood as filling in the same matching fields that correspond in the SII exclusively with the ledger of invoices issued required for the SII. The remaining […]
The Zimbabwe Revenue Authority announced the standard Value Added Tax (VAT) will increase by 0.5 percent. The standard VAT rate increased to 15% from 14.5% effective January 1, 2023. The public notice can be found here.
The Greek Tax Authority (IAPR) has released an update to its MyDATA requirements with the publication of decision A. 1188/2022 on December 31, 2022. This new decision includes important changes to the transmission deadlines and sector-specific requirements for electronic data transmission to IAPR, as well as other updates to the MyDATA requirements. Here are some […]
Pursuant to the 2023 Italian Budget through Senate Bill n. 442, effective 1 January 2023 the 5% reduced VAT applies to feminine hygiene and baby products. Baby products that will apply the 5% rate consist of baby diapers, child seats to be installed in motor vehicles, as well as powdered milk and food products for […]
As announced by the Spanish Ministry of Finance on 27 December 2022 and pursuant to Royal Decree-Law 20/2022, the reduced VAT rates applied to supplies of face masks and electricity have been extended. Surgical face masks will maintain the 4% VAT rate until 30 June 2023, and electricity will maintain the 5% VAT rate until […]
China previously announced from 1 April 2022 to 31 December 2022, small-scale VAT taxpayers would be exempt from VAT on taxable sales income subject to a 3% levy rate. The exemption was set to expire on 31 December 2022. The original announcement can be found here.
On May 5, 2020, Belgium temporarily applied a reduced rate of 6% to supplies, intra-Community acquisitions and imports of mouth masks. The Council of Ministers extended this reduced rate on masks until 31 December 2022. Beginning 1 January 2023 masks will return to being standard rated. The circular can be found here.
The 2023 French budget (2022-1726 of December 30, 2022) was published on 30th December 2022. Among several changes in the tax legislation, there was a change in the so-called Rural and Maritime Fishing Code. This Code regulates the additional contribution on premium amounts that relates to insurance agreements on agricultural operations covering Damage to buildings […]
The Norwegian Tax Authority have released the new tax rates for the Road Traffic Insurance Tax, the increase in the rates will come into effect from 1st March 2023. As before, the rates vary depending on the type of vehicle as displayed below: Type of Vehicle Traffic insurance contract that is taken […]
The Hungarian government published a new decree (No. 258/2022) on 24 December 2022. It was enforced on 25 December 2022 and modifies the initial government decree (No. 197/2022) regarding the imposition of extra profit taxes. It’s the second revision to the initial decree within six months that changes the requirements for the so-called insurance extra […]