Regulatory Analysis

Posted January 8, 2024 by Robert Pelletier
Vietnam: Extension of Temporary 8% Standard VAT Rate Reduction until June 30, 2024

Pursuant to Decree 94/2023/ND-CP as published on December 28, 2023, supplies of goods and services subject to the standard 10% VAT rate will continue to apply the temporary 8% standard VAT rate until June 30, 2024. The 2% VAT rate reduction, which was previously set to expire on December 31, 2023, has been extended by […]

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Posted January 8, 2024 by Charles Riordan
Czech Republic: VAT Law Changes

Government Bill 488, now published in the Official Gazette of the Czech Republic, makes several changes to the country’s VAT Act, the most significant of which are as follows: The country’s two reduced rates of 15% and 10% are replaced by a single reduced rate of 12%; Books, including electronically supplied books, are exempt with […]

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Posted January 8, 2024 by Charles Riordan
Luxembourg: 2024 Rate Changes

On January 1, 2024, Luxembourg’s temporary 1% decrease in several of its VAT rates will expire. Luxembourg’s VAT rates will return to what they had been prior to January 1, 2023, as follows: 17% standard rate (was 16% for calendar year 2023) 14% reduced rate (was 13% for calendar year 2023) 8% (was 7% for […]

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Posted January 8, 2024 by Robert Pelletier
Germany: Temporary Reduced Rate for Restaurant and Catering Services Expires December 31, 2023

Pursuant to Federal Gazette No. 39/2022 published on October 29, 2022, the temporary 7% reduced VAT rate applied to restaurant and catering services, excluding the sale of beverages, in Germany expired on December 31, 2023. These services have been subject to the standard 19% tax rate since January 1, 2024. The law can be found […]

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Posted January 8, 2024 by Robert Pelletier
Greece: Temporary Reduced VAT Rates on Various Goods and Services From January 1, 2024

Pursuant to Law 5073/2023 as published in the Official Gazette on December 11, 2023, the temporary 13% reduced VAT rate in Greece that applied the provision of services in cafes, restaurants, and pastry shops, as well as the 6% rate on protective face masks and gloves due to Covid-19, has expired. Since January 1, 2024 […]

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Posted January 8, 2024 by Robert Pelletier
Spain: Temporary Zero VAT Rate on Basic Foods Extended Until June 30, 2024

As announced by the Spanish Ministry of Finance on December 27, 2023, the temporary zero VAT rate on basic food items such as bread, flour, milk, cheese, eggs, fruits, vegetables, legumes, tubers, and cereals has been extended until June 30, 2024. These measures seek to continue making consumer shopping baskets cheaper through the first half […]

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Posted January 5, 2024 by Robert Pelletier
Italy: Reduced VAT Rates on Feminine Hygiene Products and Childcare Products from January 1, 2024

Italy officially published the Budget Law for 2024 in the Official Gazette No. 303 of December 30, 2023. The VAT rates applied to supplies of feminine hygiene products and childcare products, such as baby diapers, will increase from 5% to the 10% reduced VAT rate from January 1, 2024. Law No. 213 containing these measures […]

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Posted January 5, 2024 by Andrés Landerretche
Mexico: Deadline extension for Carta Porte supplement version 2.0

The tax authority, through the Miscellaneous Tax Resolution for 2024, in its transitory provisions, established that taxpayers obliged to issue CFDIs to which the Carta Porte supplement is incorporated, may continue to issue them in its version 2.0, published on February 24, 2023 on the SAT Portal, until March 31, 2024.

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Posted January 5, 2024 by Andrés Landerretche
Peru: GRE Grace Period Extended

On December 24, SUNAT resolution 000042/2023 was published, extending the grace period for the non-application of penalties for infractions related to Electronic Transportation Guide (GRE) The resolution indicates that the subjects required to issue the GRE as of 1 January 2024 require an adaptation period and it is advisable to extend the deadline for compliance. […]

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Posted January 5, 2024 by Marta Sowińska
Poland: updates regarding changes to the JPK_VAT in relation to KSeF

The regulation amending the scope of data included in the JPK_VAT with a declaration (VAT return) in Poland, has now been passed to the Minister of Finance for formal signature. The final version of the regulation from 29 December 2023 has been further changed compared to the initial draft, and its final form does not […]

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Posted January 5, 2024 by Marta Sowińska
Belgium: draft legislation on mandatory B2B e-invoicing now published

The draft legislation on 28 December 2023 introducing mandatory B2B e-invoicing in Belgium has been made publicly available and is now awaiting the Belgian Parliament’s approval. After its approval, the e-invoicing mandate is planned to enter into force from 1 January 2026 and impact all VAT-registered taxpayers established in Belgium. The taxable persons who are […]

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Posted January 2, 2024 by Inês Carvalho
Romania: Amendments to B2B e-invoicing mandate approved

After the implementation of Romania’s new B2B e-invoicing regulations effective January 2024, the country introduced the Government Emergency Order no. 115/2023 with last-minute amendments. The key amendments resulting from the new legislation can be summarized in 3 categories: 1. Exemptions from the e-reporting and e-invoicing mandate are clarified The following transactions are explicitly exempted from […]

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Posted January 2, 2024 by Dilara İnal
Saudi Arabia: “Cancellation of Fines and Exemption of Penalties Initiative” extended once again

Saudi Arabian Tax and Customs Authority, ZATCA, extended the “Cancellation of Fines and Exemption of Penalties Initiative” until June 30, 2024. This initiative covers fines regarding late registration in all tax systems, late payment, late filing of returns fines in all tax systems, and fines to correct VAT returns, as well as fines for violations […]

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Posted December 29, 2023 by Marta Sowińska
Serbia: Legislative updates in force from January 1, 2024

In the Serbian Official Gazette no. 116 from 26.12.2023, the regulations introducing certain legislative changes were published, namely: Amendments to the Regulation on uniform technical and technological requirements and procedures for the preservation and protection of archival material and documentary material in electronic form. Amendments to the Regulation on Electronic Invoicing. Amendments to the Regulation […]

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Posted December 29, 2023 by Dilara İnal
Turkey: Updated e-invoicing rules for electric vehicle charging services

The Turkish Revenue Administration (TRA) has recently issued new technical guidelines and updated e-invoicing technical packages in response to the revised e-invoicing rules targeting Charging Network Operations and Charging Station Operators. This development follows the enactment of General Communique No. 550 of the Tax Procedural Law in October 2023, which mandated e-invoicing for licensed Charging […]

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Posted December 27, 2023 by Robert Pelletier
Poland: Zero VAT Rate on Basic Food Products Extended until March 31, 2024

As published in the Official Journal of Laws on December 9, 2023, the Polish Ministry of Finance has extended the zero VAT rate on basic food products until March 31, 2024. The temporary zero VAT rate was previously set to expire on December 31, 2023. The regulation can be found here (in Polish).

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Posted December 22, 2023 by Charles Riordan
Estonia: VAT Rate Change

On January 1, 2024, Estonia’s standard rate of VAT will increase from 20% to 22%. In addition, from January 1, 2025, Estonia plans to increase the rate of VAT on press publications from 5% to 9%, reversing a recent change.

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Posted December 22, 2023 by Joanna Hysi
Greece: Changes to myDATA & e-invoicing introduced with new tax law

The long anticipated adoption of the tax bill was published in the official gazette on December 11, 2023. Law 5073/2023 (FEK A’ 204) on “Measures for the limitation of tax evasion and other urgent provisions” regulates, among other things, a number of aspects related to myDATA and e-invoicing, namely: The e-invoicing incentives provide to businesses […]

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