Regulatory Analysis
The Colorado Department of Revenue published local sales and use tax changes effective January 1, 2025. The following state-administered local jurisdictions will be changing their tax rates: Canon City Holly Superior San Miguel Authority for Regional Transportation Southwest Plaza MDT Ute Pass Regional HSD Further information may be found here.
The Colorado Department of Revenue published local sales and use tax changes effective January 1, 2025. The following self-administered locals will be changing their tax rates: Castle Rock Denver Glenwood Springs Further information may be found here.
The city of Aspen, Colorado changes from self-administered to state-administered for sales tax effective January 1, 2025. the city will continue to self-administer use tax. Further information may be found here.
Lafayette, Colorado approved Ordinance No. 22, Series 2024 which amends the Lafayette Municipal code to exempt sales of bullion beginning January 1, 2025. Further information concerning the ordinance may be found in the City Council Agenda for December 3, 2024 here.
Effective January 1, 2025, by approval of Ordinance No. 22, Series 2024, essential hygiene products such as feminine hygiene and incontinence products will be exempt from sales and use tax in the city of Vail, Colorado. Further information concerning the ordinance may be found here.
In Maine, with the passage of H.P. 1278/L.D. 2000, certain leases or rentals of tangible personal property (TPP) are now subject to the general 5.5% sales tax rate effective January 1, 2025. Previously, lessors paid tax when purchasing TPP for lease or rental but did not charge tax to their lessees. More information may be […]
Effective January 1, 2025, with the passage of H.P. 1278/L.D.2000, rentals of trucks and vans with a gross vehicle weight rating of less than 26,000 pounds for a period of less than one year in Maine are subject to the general 5.5% sales tax rate, regardless of the person from whom the vehicle was rented. […]
The proposed amendments to Romania’s e-invoicing, e-transport, and e-VAT legislation have been officially adopted through Government Emergency Ordinance (GEO) no. 138, published on December 4th. The adopted ordinance largely reflects the provisions outlined in the draft GEO. Key updates include: E-invoicing Simplified invoices are no longer excluded from scope of mandatory e-invoicing and reporting requirements […]
This law in general terms establishes the possibility of exceptionally regularizing tax obligations through forgiveness, and payment facilities for the different taxes. With regard to obligations in terms of electronic invoicing, the only Title that has an impact is TITLE VII of the Consumer Tax Transparency Regime. This Chapter establishes a modification to the VAT […]
Pursuant to amendments published in the Official Gazette of Montenegro No. 94/2024 on September 30, 2024, a new reduced VAT rate category of 15% is introduced and the scope of supplies subject to the 7% reduced rate is adjusted from January 1, 2025. The 7% VAT rate will apply to essential goods, including basic food […]
On 6 December 2024, the Italian Institute for Insurance Supervision (IVASS) published the management charge rate for the year 2025. The rate has been increased from 4.37% to 4.50%. The management charge reduces the taxable basis applied to the Road Accident Victims Fund (RAVF) and Hunting Accident Victims Fund (HAVF) and is published annually at […]
In 2022, a Texas District Court held in Coppell v. Hegar and Round Rock v. Hegar that Texas failed to follow its own requirements in enacting Texas Tax Rule 3.334. In short, the court required the comptroller to re-amend or re-adopt the rule using proper Texas procedures. The Texas Comptroller then fulfilled the procedural requirements […]
Louisiana House Bill 10 of the Louisiana 2024 Third Extraordinary Session includes language to increase the Louisiana state level sales and use tax rate from 4.45% to 5%, effective January 1, 2025. The bill awaits the Governor’s signature. More information can be found here.
From July 2025, Estonian taxpayers will be required to issue e-invoices upon the buyer’s request, with the aim of stimulating wider e-invoicing adoption in the country. While this measure can lead to an increase in e-invoicing, the government aims to achieve additional broader goals, such as enhancing transparency, reducing fraud, and improving VAT collection. In […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 18th wave of Phase 2 of the e-invoicing initiative. The 18th wave includes taxpayers with a revenue of at least SAR 2 million (approximately USD 532 200, 00) that were subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of […]
On December 2nd, a Draft Government Emergency Ordinance was published, proposing amendments to Romania’s e-invoicing, e-transport and e-VAT mandates. E-invoicing Simplified invoices are set to come under the scope of mandatory e-invoicing and reporting requirements from January 2025. For mandatory B2B e-invoicing between established taxpayers, it is clarified that transactions with a place of supply […]
On November 26, 2024, the IRS released Notice 2024-85 (Revised Timeline Regarding Implementation of Amended Section 6050W(e)). The notice announces transitional relief for Third-Party Settlement Organization (TPSOs) from the 1099-K reporting threshold for tax year 2024 and 2025. For tax year 2024, the IRS will implement a $5,000 reporting threshold for TPSOs, without regard to […]
Arkansas recently published its 2024 Specifications for Filing Forms W-2/1099 Electronically. The publication’s revision date is November 8, 2024. The document details the state-specific additions to the Social Security Administration’s EFW2 format and the IRS Publication 1220 format. There were several editorial changes but no substantive changes to the specifications themselves, Despite this, some important […]