Regulatory Analysis
Bulgaria has extended the temporary reduced VAT rate in Bulgaria due to Covid-19 through Decree No. 304 as published on 23 December 2022. The 9% reduced VAT rate has been temporarily extended until 31 December 2023 on restaurant and catering services consisting in the delivery of prepared or unprepared food. The reduced rate of 9% […]
The IRS recently made several updates to Publication 1220. The most impactful change is the addition of District of Columbia and Pennsylvania to the list of states participating in the CFS program. Each has been assigned a code (DC Code 11 PA Code 42). Neither state has released guidance about participating in the IRS program. The guide […]
The Portuguese government published Decree-law no. 85/2022, in December 21st 2022, which determines the postponement of the mandatory submission of the accounting SAF-T file regarding the year 2023 among other things. Instead, this obligation will only be applicable from tax year 2024 onwards. Considering that the accounting information is only reported in the following year, […]
On the 28th December 2022, Act no. 458/2022 Coll. was published in the Collection of Laws, which repeals the Sales Registration Act, which would come into force on 1 January 2023. Czech Republic had previously enacted the Sales Registration Act, which made mandatory to report in real-time to the Czech Tax Authorities electronic invoices from […]
The Spanish General State Budget for 2023 was published on 24 December 2022. Among the changes is the removal of the use and enjoyment rule for determining the place of supply of B2B and B2C sales of electronic services when such services are used or enjoyed in Spain. This change is effective 1 January 2023. […]
The Portuguese government published Decree-law no. 85/2022 amending Decree-law no. 198/2012 to change provisions concerning the communication of self-billed invoice elements to the tax authority (TA) via the E-Fatura Portal. The amendments were made to article 3 of the above-mentioned decree-law to clarify and include reporting obligations in case of self-billing. The following measures were […]
Illinois has released its 2022 Forms W-2G and 1099 Electronic Transmission Program Guide FIRE Format. Starting January 1, 2022 you are only required to submit forms 1099-K issued to a payee with an Illinois address electronically, if you are required by the IRS to electronically file forms 1099-K. For reporting periods starting January 1, 2022 […]
The Aruban Department of Taxes announced a 1% increase to the turnover tax (BBO) rate effective 1 January 2023. As a result the combined BBO, BAVP, and BAZV rate will increase to 7%. Please note that the proposed VAT system previously announced for implementation from 1 January 2023 has been delayed until 2024. The announcement […]
North Carolina has released its 2022 W-2 Electronic Specifications. There were no changes from last year’s publication. Penalty for failure to file reconciliation form NC-3 with each W-2, 1099 statement in electronic format via DOR eNC3 platform continues from last year. The informational return penalty is $200. Please see W-2 Specifications here.
Missouri recently released its W-2 Specifications and 1099 Specifications for tax year 2022. Besides date and minor grammar changes, there were no changes to the specifications. Please see W-2 Specifications here. Please see 1099 Specifications here.
The District of Columbia Department of Revenue has released its 2022 W-2 & 1099 Specifications. A procedure for validating all W-2 & 1099 bulk file electronic submissions has been updated by the District of Columbia. This is designed to detect errors before submitting bulk files. District of Columbia has specified the threshold for Manual Online […]
The Maryland Department of Revenue has released its 2022 1099 Electronic Filing Specifications. Maryland has established the electronic filing threshold for 1099s is 25 or greater submissions. Further, Maryland encourages electronic filing of all 1099s. All 1099 electronic filings through Maryland’s Secure File Transfer Protocol server must the follow format as set in Federal Publication […]
The Montana Department of Revenue has released their 2022 Employer Withholding Guide. As of Tax Year 2023, Montana will not mail paper MW-1 Withholding Tax Vouchers. Copies of the forms must be downloaded online. Significantly, Montana has added Form 1042-S forms that must be reported to Montana with Form MW-3. The reporting due date is […]
In a late breaking release, the IRS published Notice 2023-10 which provides updated guidance for 1099-K reporting. Addressing concerns about the timeline of implementing the changes to Section 6050W through the American Rescue Plan Act and noting the potential for personal transactions to be unintentionally included, the IRS states in Notice 2023-10 that calendar year […]
The Saudi Arabian Tax and Customs Authority, ZATCA, has announced the second group required to comply with Phase 2 for E-invoicing. The second group of taxpayers are businesses with revenues subject to VAT which exceed half a billion riyals during 2021. The ZATCA will notify taxpayers in the group and this notification will provide taxpayers […]
Norway has approved amendments to the Norwegian VAT law regarding cross-border business to consumer sales of remotely delivered services. Effective 1 January 2023, non-resident suppliers of remote services (non-digital) to Norway who make supplies to non-registered persons are required to collect and remit VAT. This law change is an extension of Norway’s current VAT compliance […]
The French Parliament approved the Finance Bill for 2023 (“2023 Bill”) on 17 December 2022. It includes an amendment to Article 166 of Finance law no. 2019-1479 of 28 December 2019 for 2020. Whilst only the date has changed from 2023 to 2025, this has a huge impact on the settlement of French insurance premium […]
Kentucky recently enacted House Bill 8 which imposes a new excise tax on certain types of motor vehicle rentals. This excise tax is 6% in addition to the existing 6% motor vehicle usage tax. More information on the new excise tax may be found here.