Regulatory Analysis

Posted June 5, 2024 by Dilara İnal
India: Launch of E-Way Bill 2 Portal

The National Informatics Centre (NIC) launched the E-Way Bill 2 Portal on 1 June 2024. This new portal runs parallel to the main e-way bill portal, ensuring high availability and synchronization of e-way bill details within seconds. Main portal login credentials can be used on the new portal, which also provides web and API modes […]

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Posted June 4, 2024 by Marta Sowińska
Poland: JPK_VAT and KSeF Timeline Changes

The new draft regulation amending JPK_VAT with a declaration (VAT return) has been published on 31st May 2024 by the Polish Minister of Finance (MoF). The draft amends the data included in the JPK_V7M and JPK_V7K returns and provides a new timeline, as follows: 1 Feb. 2026 to 1 Jul. 2026- no obligation to include […]

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Posted June 4, 2024 by Marta Sowińska
Lithuania: B2G e-Invoicing Via SABIS

Following the implementation of the project “Modernization of the information system “E- sąskaita”, starting from 1 July 2024, the submission of the invoices to public sector entities and other contracting authorities will be moved from the E-sąskaita system to the General Information System for Account Administration (SABIS). Based on Resolution no. 405, the invoices must […]

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Posted June 4, 2024 by Bradley Feimer
Ohio 2024 Expanded Sales Tax Holiday

The Ohio Department of Taxation announced the state will have an expanded sales tax holiday from July 30 through August 8, 2024. During the holiday period, all goods that are $500 or less except for certain watercraft, motor vehicles, alcoholic beverages, tobacco, vapor products, or any item that contains marijuana will be exempt from sales […]

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Posted June 4, 2024 by Edit Buliczka
Belgium: Deadline to Declare IPT on Broker Fees Postponed Again to October 2024

The deadline for declaring the Insurance Premium Tax (“IPT”) on earnings such as commissions received by an intermediary in connection with the provision of insurance services, has once again been extended. The new deadline has been established for 20th October 2024. The previously released return template has been also revised in order to incorporate the […]

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Posted June 3, 2024 by Ed Surette
Minnesota Decreases E911 TAM Fees Effective July 1, 2024

Minnesota decreased their E-911/Telecommunications Access fee from $0.84 to $0.83, effective July 1, 2024. For more information please refer to the Minnesota Prepaid Wireless E911 and TAM Fees Sales Tax Fact Sheet 179.

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Posted May 29, 2024 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 twelfth wave of Phase 2 of e-invoicing. The twelfth wave covers taxpayers with at least SAR 10 million (app. USD 2.6 million) revenue subject to VAT for 2022 or 2023. Taxpayers within this group are expected to integrate as of 1 December 2024. Phase 2 of e-invoicing introduces additional requirements for […]

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Posted May 23, 2024 by Dilara İnal
Turkey: TRA Announces Changes to e-archive Invoice and e-ledger Frameworks

On May 22, 2024, the Turkish Revenue Administration (TRA) announced new mandatory fields for e-Archive reports. Effective July 1, 2024, the signature time, shipment information, and tax rate fields must be included in e-Archive Invoices and several other e-documents. Consequently, the e-Archive Package and Technical Guideline have been updated to reflect these changes. Additionally, the […]

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Posted May 22, 2024 by Dilara İnal
Turkey: Changes to E-Ledger Submission Requirements

The Communiqué Amending the General Communiqué on Electronic Ledgers (Serial No: 1) was published in the Official Gazette on May 21, 2024. Among other amendments, the deadline for ledger submissions has been changed. Previously, submissions had to be completed by the end of the third month following the relevant month for monthly submissions, and this […]

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Posted May 20, 2024 by Dan Barros
South Carolina Exempts Feminine Hygiene Products

On May 13, 2024, South Carolina Governor McMaster signed into law House Bill 3563. This legislation created a sales tax exemption for feminine hygiene products, to take effect upon signing. Feminine hygiene products are defined as tampons, sanitary napkins, and other similar personal care items for use in connection with the menstrual cycle. The complete […]

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Posted May 7, 2024 by Bradley Feimer
Virginia Annual Tax-Free Weekend Extended to 2030

Virginia’s Governor recently signed House Bill 25 into law. The legislation extends the provisions for the annual tax-free weekend to another five years to July 1, 2030. Further information may be found here.

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Posted May 3, 2024 by Bradley Feimer
Colorado Revises Local Sales & Use Tax Admin into Uniform Statute

Colorado recently enacted SB 25 which revises separate statutes governing local sales and use tax administration by the state into a single statute. Among the unification adjustments, the legislation requires local governments which make changes to their sales and use taxes to provide the Colorado Department of Revenue (DOR) written notice ahead of the change. […]

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Posted May 3, 2024 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 eleventh wave of Phase 2 of e-invoicing. The eleventh wave covers taxpayers with at least SAR 15 million (app. USD 4 million) revenue subject to VAT for 2022 or 2023. Taxpayers within this group are expected to integrate as of 1 November 2024. Phase 2 of e-invoicing introduces additional requirements for […]

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Posted May 3, 2024 by Marta Sowińska
Estonia to Introduce Buyer’s Right to Request E-Invoices

The Estonian Ministry of Finance has proposed amendments to the Accounting Act, planned to become effective on January 1, 2025, pending approval by the Parliament. This amendment seeks to encourage usage of e-invoicing across Estonia by adopting a uniform European e-invoicing standard, thereby facilitating the streamlined exchange of e-invoices. Starting January 2025, all entities registered […]

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Posted April 30, 2024 by Robert Pelletier
Cyprus: Temporary Zero VAT Rate on Basic Items Extended until June 30, 2024

Pursuant to the Council of Ministers Decree ΚΔΠ 138/2024, the temporary zero VAT rate that applies to basic food and consumer items such as bread, milk, eggs, baby foods, coffee, sugar, baby and adult diapers, female hygiene products, and certain meats and vegetables is extended until June 30, 2024. This announcement was published on the […]

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Posted April 30, 2024 by Robert Pelletier
Laos Standard VAT Rate Increase to 10%

Pursuant to Laos Presidential Decree No. 003/PS signed on March 19, 2024, the standard VAT rate in Laos is increased from 7% to 10%. This Decree was published in the Lao Official Gazette on March 26, 2024. The Decree, as published in the Official Gazette, can be found here (in Lao).

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Posted April 26, 2024 by Robert Beck
IRS Releases Draft of New Form 1099-DA

The IRS recently released a draft version of the long and highly anticipated Form 1099-DA, Digital Asset Proceeds From Broker Transactions. The form will be used for reporting proceeds from (and in some cases, basis for) digital asset dispositions to the IRS and recipients. The form treats digital assets such as cryptocurrency, similarly to stocks, […]

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Posted April 26, 2024 by Kellianne Munichiello
Oregon Releases Additional Independent Contractor Reporting Guidance

On January 1, 2024, Oregon law began requiring reporting of newly hired or reengaged independent contractors. From January to March 2024, the Oregon Child Support Program rolled out a ‘Soft Launch’ of the reporting requirements. In April 2024, the Oregon Child Support Program ended the soft launch and officially began requiring employers and payers who engage or reengage independent contractors […]

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