Regulatory Analysis

Posted February 12, 2025 by Kelly Muniz
EU: Parliament Approves ViDA

The European Parliament has approved the VAT in the Digital Age (ViDA) proposal, bringing it one step closer to official adoption. The proposal will now head to the Council of the EU for final approval, marking a key step in the effort to modernize VAT systems throughout the European Union. ViDA is a tax reform […]

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Posted February 7, 2025 by Kellianne Munichiello
Louisiana Withholding Rate for Gambling Winnings Lowered to 3%

Effective January 1, 2025, Louisiana has repealed its graduated income tax rates under RS 47:32(A) and adopted a flat income tax rate of 3%. Although this is not reflected in the applicable statute yet, see HB10. HB10 was signed into law as Act 11 on December 4, 2024. Under LAC 61:1.1525(A), if Louisiana income tax withholding […]

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Posted February 7, 2025 by Bradley Feimer
Upcoming Colorado Firearms and Ammunition Excise Tax

In Colorado, a 6.5% excise tax on the net taxable sales of retail vendors of firearms, firearm precursor parts, and ammunition will take effect April 1, 2025. Sales to military and law enforcement are exempt from the tax. Further information regarding the excise tax may be found here.

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Posted February 7, 2025 by Mariadelc Aguilar
PERU: Extended Deadline for Obligated Entities to Regularize RVIE and RCE in SIRE

On January 31, resolution No. 000003-2025-SUNAT/700000  was published. With this resolution, the application of the discretionary power regulated in the Resolution of the Deputy National Superintendence of Internal Taxes No. 000039-2023-SUNAT/700000 is extended until the period June 2025 so that, with respect to the periods January, February, March, April, May and June 2025, inductive actions continue to […]

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Posted February 7, 2025 by Kellianne Munichiello
Nebraska Releases 2025 Circular EN (Income Tax Withholding Guide)

Nebraska recently released the 2025 Circular EN (Nebraska Income Tax Withholding on Wages, Pensions and Annuities, and Gambling Winnings Paid on or after January 1, 2025). Notably, the guide details important legislative changes to the Nebraska income sourcing and withholding rules for nonresident payees. For taxable years beginning on or after January 1, 2025: Nebraska […]

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Posted February 7, 2025 by Kellianne Munichiello
Illinois Updates Information Return Publication

Illinois recently updated Publication 110 (Forms W-2, W-2c, W-2G, and 1099 Filing and Storage Requirements for Employers and Payers, including 1099-K Electronic Filing Requirements). There are several changes of note. First, the deadline for filing tax year 2024 W-2G and 1099-K records will fall on March 31, 2025, which is one day earlier than last […]

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Posted February 7, 2025 by Kellianne Munichiello
Hawaii Updates HW-30 (Employer’s Annual Transmittal of Hawaii Income Tax Withheld from Wages)

Hawaii recently updated Form HW-30 (Employer’s Annual Transmittal of Hawaii Income Tax Withheld from Wages) and the instructions. HW-30 is used for paper filing HW-2 and W-2 forms with Hawaii. Paper filing is permitted for those not required to file electronically with the IRS. There are significant changes to the HW-30. A ‘Corrected’ checkbox has […]

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Posted February 6, 2025 by Kellianne Munichiello
Montana Announces 1099-DA (Digital Asset) Reporting Requirement

Montana recently released the 2025 Employer and Information Agent Guide. There are several significant changes. Most notably, beginning in 2026, taxpayers required to file form 1099-DA (Digital Assets) with the IRS will be required to file form 1099-DA with Montana. Form 1099-DA is a new federal form that will be used to report digital asset […]

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Posted February 6, 2025 by Victor Duarte
Saudi Arabia: 20th Wave of Taxpayers in Scope of Phase 2 of E-Invoicing Announced

The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 20th wave of Phase 2 of the e-invoicing initiative. The 20th wave includes taxpayers whose revenues subject to VAT exceeded (SAR 1. 5 Mn) (approximately USD 399K) during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of October 31, 2025. Phase 2 of the e-invoicing […]

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Posted February 6, 2025 by Victor Duarte
UAE Announces E-invoicing Public Consultation

The Ministry of Finance in the UAE announced on 6 February 2025 the launch of a Public Consultation on eInvoicing. This initiative aims to gather feedback from stakeholders on the proposed eInvoicing data requirements, ensuring transparency and alignment with industry needs. The Ministry of Finance hopes to: Establish a common understanding of data elements used […]

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Posted February 4, 2025 by Talent Gwaindepi
Slovenia: New VAT Ledgers

Slovenia has introduced a new obligation for all VAT-registered taxpayers to prepare and submit VAT ledgers in addition to the existing VAT return requirements. This new reporting requirement will take effect from 1 July 2025. Taxpayers will be required to submit separate ledgers for output and input transactions. The VAT ledgers must be submitted monthly, in […]

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Posted February 4, 2025 by Kelly Muniz
Italy: E-invoicing Schema Update

The Italian Revenue Agency (Agenzia delle Entrate) has announced important updates to the Italian mandatory e-invoicing “FatturaPA” technical specifications and schemas. The technical documentation has been updated to version 1.9 and will be effective from 1 April 2025. A summary of the main changes introduced by this updated version are as follows: · Introduction of Document […]

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Posted February 3, 2025 by Inês Carvalho
Belgium: new CTC e-reporting mandate from 2028

Belgium’s new coalition government has announced plans to introduce a complementary reporting requirement alongside the existing B2B e-invoicing mandate. With the current e-invoicing system operating through the 4-corner Peppol network, there was speculation that a 5-corner model would follow. The recent announcement confirms this, stating that e-invoicing systems, cash registers, and payment systems will be […]

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Posted January 31, 2025 by Kelly Muniz
Jordan: Phase 2 of the National E-invoicing System Announced

Jordan is moving forward with the implementation of its mandatory e-invoicing system, the National Billing System (NBS), which allows businesses and professionals to electronically issue and manage invoices. The NBS provides a platform for users to generate invoices directly or integrate with the system via API, streamlining the invoicing process and enhancing compliance with tax […]

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Posted January 31, 2025 by Talent Gwaindepi
Serbia: Introduction of Pre-Filled VAT Returns

Serbia has published amendments to the Value Added Tax (VAT) Law introducing pre-filled VAT returns. The law was published in the Official Gazette of the Republic of Serbia no. 94/2024. A pre-filled tax return is defined as a set of data relating to the turnover of goods, trade in services, import of goods and other transactions […]

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Posted January 27, 2025 by Inês Carvalho
Norway: Mandatory B2B e-invoicing on the horizon

The Norwegian Ministry of Finance announced the launch of a study into the introduction of mandatory electronic invoicing for business-to-business transactions. The Directorate of Taxes has been tasked with outlining the requirements and presenting a report by mid-June 2025. Electronic invoicing has been mandatory in the public sector since 2019. By extending this requirement to […]

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Posted January 23, 2025 by Carolina Silva
Australia Promotes Peppol E-invoicing

The Australian Government is enhancing its commitment to increase Peppol e-invoicing in the country. This commitment is highlighted in the State Budget for 2025. The Government recognizes its role in leading the uptake of e-invoicing in Australia and aims to promote the adoption of e-invoicing by all businesses, by continuing outreach efforts and considering a […]

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Posted January 22, 2025 by Mariadelc Aguilar
Argentina: Updated Thresholds for Mandatory Final Consumer Data on Receipts

On January 16, the authority reported that the consumer’s information regarding the consumer’s name, surname, address and identification number (CUIT, CUIL, CDI, identity document, passport or identity card) must be included in the receipt in the following cases: When the receipt is issued for a value of $ 417,288 or more, if the payment is […]

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