Regulatory Analysis
Israel is planning to introduce a Continuous Transaction Controls reform, likely in the form of mandatory clearance e-invoicing. The proposed CTC model is currently expected to include a direct connection between the Tax Authority and businesses in real time for each transaction. The Israeli Tax Authority is reviewing the proposal and liaising with interested stakeholders to […]
We recently reported that the new “JPK with the declaration” JPK_V7M (monthly) and JPK_V7K (quarterly) periodic VAT reporting files (a combined Uniform Control File and VAT Return) were due to be implemented from 1 April 2020 for taxpayers defined under Polish legislation as being large businesses. However, as part of a new “Anti-Crisis Shield” (Tarcza […]
HMRC has informed Sovos that it is extending the soft landing period for MTD digital links until 1 April 2021, for all taxpayers. The effect of this is that businesses will now have until their first VAT return period starting on or after the 1 April 2021 to have digital links in place. Our understanding […]
As part of its Covid-19 Action Plan, British Columbia has postponed its previously announced expanded provincial sales tax registration requirements for Canadian sellers of goods as well as Canadian and foreign sellers of software and telecommunication services. These new requirements were supposed to go into effect on July 1, but instead have been delayed until […]
The Spanish tax administration (AEAT) announced on its website that it has started to pre-fill the periodic VAT return of certain taxpayers (Modelo 303), based on information these taxpayers supply via the SII. The service is called Pre303, and going forward, it will be available for the tax return of February 2020 that is due in […]
The Chilean congress enacted law 21.210, a tax reform bill that will have several implications for VAT compliance. Among the enacted changes, the supply of digital goods and services by foreign suppliers not established in Chile will be subject to VAT. When supplies are made to VAT registered taxpayers, these taxpayers will be responsible for […]
Approximately 25 local governments in Alaska have signed an intergovernmental agreement establishing a Commission that will provide governance over a streamlined, single-level administration of sales tax collection and remittance. The Commission recently adopted their uniform sales tax code which includes provisions requiring remote sellers and marketplace facilitators to collect and remit sales tax if their […]
The Supreme Court announced it would consider a challenge to the Affordable Care Act (ACA) colloquially known as Obamacare. The legal challenge, brought by the Attorney General of Texas, seeks to overturn the landmark healthcare law. The challenge proposes that since the ACA only passes constitutional muster through its tax implications, the 2017’s Tax Cuts and […]
The DIAN has released a new proposed resolution clarifying the timing surrounding the implementation of version 1.8 of the Technical Annex of the Electronic Invoice under UBL 2.1. The implementation deadline will begin on April 2020 for large taxpayers and extend to October 2020 for all others. This new resolution will also consolidate in a […]
Colombia enacted a new tax reform that, among other things, establishing a future 3 day VAT Holiday. According to the provisions of Law 2010/2019, the government will allow retailers to sell clothes, electronics, sports equipment, toys and school supplies VAT free when purchased by final consumers using a credit card and where the sale is […]
The Mexican Congress has approved the 2020 tax reform, The most important changes of this reform in relation to VAT is the establishment of a new system of the taxation of digital goods and services supplied by non-established entities to final consumers in Mexico. Under this new regime, foreign suppliers of digital goods and services […]
Since July 2018, taxpayers in Hungary have been obliged to disclose the data of electronic invoices issued for transactions with accounted VAT exceeding HUF 100,000 (approximately €300). This data must be transmitted to the National Tax and Customs Administration of Hungary (NAV) in a structured manner once the electronic invoice has been issued. This fiscal obligation […]
The Institute for Insurance Supervision (IVASS) in Italy has published the management charge rate for the year 2020. It set the rate for 2020 at 4.12%. 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 in November.