Regulatory Analysis
Malaysia’s Inland Revenue Board (HASiL) has announced the introduction of new document versions in the SDK to support the e-Invoice Special Voluntary Disclosure Programme (SVDP), as an ongoing effort to support taxpayers in regularizing their e-Invoice compliance, effective period until 31 December 2027. Background Malaysia’s MyInvois e-invoicing framework has been progressively rolled out since 2024, […]
Despite months of speculation, France has chosen not to use its legal option to defer the e-invoicing mandate to 1 December. What is being softened until the end of 2026 is enforcement, not the legal timeline. The Directorate General of Public Finances (DGFiP) has indicated there will be no automatic, indiscriminate sanctions for businesses acting […]
Louisiana House Bill 1256 was enacted on June 9, 2026. The bill provides the criteria for the escheatment of digital asset accounts as follows: Escheatment of Digital Asset Accounts Digital assets are presumed abandoned three years after the owner’s last indication of interest. However, if a first-class mailing from the holder to the owner is […]
On June 26, 2026, Florida Governor Ron DeSantis signed Senate Bill 1452 into law, enacting sweeping changes to the Florida Disposition of Unclaimed Property Act. The law takes effect immediately. Interestingly, many of the changes are to provisions either added or amended in 2024. The notable changes are as follows: Definitions and Terminology Changes The […]
The IRS has released its 2026 instructions for forms 1099-MISC and 1099-NEC. The agency has made a number of changes. Most prominently, there are several changes resulting from the 2025 budget reconciliation. The instructions now reflect a general reporting threshold of $2000 or more, up from $600 in 2025; the new threshold will be inflation-adjusted […]
After several postponements, Sri Lanka has officially enacted VAT on digital services supplied by non-resident providers which took effect on July 1, 2026. Non-resident digital service providers are now required to register for Sri Lankan VAT, collect VAT on B2C digital services, and comply with electronic registration, filing, and payment obligations, as per Value Added […]
Mississippi recently passed HB 4060 providing an exemption for the retail sale of lime used for agricultural purposes. Additionally, the legislation stipulates fencing materials for livestock are now taxed at a reduced rate of 1.5%. The bill in its entirety can be seen here.
Colorado recently released GIL 26-001, providing that the Multistate Tax Commission resale certificate, may not be used by a wholesaler in the state without a state-issued sales tax license to claim an exemption. Reasoning that due to the attestation on the form, a business is attesting that they hold a valid sales tax license in […]
Kenya has enacted multiple amendments to its Value Added Tax (VAT) Act through The Finance Bill, 2026. There were multiple changes, including changes in the accounting of input tax on previously taxable items that are now exempt, and what goods and services are exempt. Changes include exempting dialyzers and scrap metal and making direction-finding compasses, […]
The IRS has released updated versions of Form 1099-R, Form 5498, and the accompanying Instructions for Forms 1099-R and 5498 for tax year 2026. This year’s release reflects some of the most significant structural and substantive changes to these forms in recent memory, driven in large part by new legislation establishing Trump accounts as a […]
Minnesota House Bill 4188 was enacted on May 27, 2026, after being amended on April 7, 2026. The newly enacted bill addresses virtual currency, prepaid funeral funds and 529 Plans. The changes are as follows: Virtual Currency Virtual currency is presumed abandoned three years after last indication of owner interest. Owner interest in virtual currency […]
Georgia Senate Bill 403 was enacted on May 5, 2026. The introduced version of this bill addressed virtual currency. However, the final enacted version of the bill removed the virtual currency provisions. What remains are changes to due diligence as follows: In addition to written due diligence, email due diligence is now required for property […]
Effective July 1, 2026, the sale of alternative fuels taxed under W.S. 39-17-301 through 39-17-311 are exempt from sales tax in Wyoming. Additionally, the definition of alternative fuels was adjusted to include electricity sold at a DC (direct current) fast charging station. Find more information here.
Kansas enacted K.S.A. 79-3606h, which created a sales tax exemption beginning July 1, 2026 for disabled veterans who meet certain qualifications. Veterans are exempt from state sales tax on up to $24,000 of purchases per year. Purchases of motor vehicles, alcohol, tobacco, and e-cigarettes are excluded. More information regarding this change can be found here.
Effective August 1, 2026, the Northern Illinois Transit Authority (NITA) occupation and use tax rate will increase by 0.25% in Cook, DuPage, Kane, Lake, McHenry, and Will counties. This tax is formerly known as the Regional Transportation Authority (RTA) tax. Find more information here.
Governor DeSantis of Florida signed HB 7031e on June 29, 2026, which contained the following changes: Propane tanks with of weigh of 20 lbs. or less are now permanently exempt, effective July 1, 2026. The Back to School Sales Tax Holiday will now occur from July 20 – August 20, 2026. The tax holiday was […]
Utah enacted Senate Bill 162, which expands and clarifies the sales and use tax treatment of streaming and digital transactions beginning July 1, 2026. Under the new law, taxability is based on payment for access to digital content, rather than ownership or download, meaning streaming subscriptions for audio, video, gaming, and e-books are now included […]
Under VA § 58.1-609.1(19), gold, silver, or platinum bullion, as well as legal tender coins, are exempt from sales tax. Under VA HB 1600 (2025) the exemption was set to expire June 30, 2026. However, as part of VA HB 30, Virginia has now extended the exemption to expire June 30, 2028.