Regulatory Analysis
In reaction to the U.S. Supreme Court’s decision in South Dakota v. Wayfair, the District of Columbia (D.C.) has introduced legislation that would expand the district’s sales tax collection requirements to retailers without a physical presence in the district. Bill 22-914, the “Internet Sales Tax Amendment Act of 2018,” would require remote sellers to collect […]
The Connecticut Department of Revenue Services has published IP 2018(13), Form W-2 Electronic Filing Requirements for Tax Year 2018. While the file specifications have not changed, filers should take note that the new web address for filing through the Taxpayer Service Center (TSC) is portal.CT.gov/TSC.
From November 15, 2018, through January 15, 2019, New Jersey is offering taxpayers the opportunity to clear their tax debts. For taxpayers who choose to file and pay the taxes owed, the state will waive most penalties and reduce interest. Taxpayers will only pay the amount of tax owed and one-half of the balance of […]
Vermont has recently released specifications for the electronic reporting of 1099s and W-2s for tax year 2018. The 1099 specifications match those published by the IRS. The published W-2 specifications remain the same from those for tax year 2017. Note, however, that the W-2 specifications are titled “2018 Vermont Specifications for Electronic W-2 (EFW-2) Filing,” […]
On October 26, the Polish Council of Ministers confirmed that it will introduce a new SAF-T scheme (JPK_VDEK) aimed at replacing the VAT-7 and VAT-7K declarations. The draft legislation will become available during the fourth quarter of 2018. If enacted, taxpayers will submit only one document, the JPK_VDEK file, without additional attachments. The Ministry of Finance […]
On November 6, 2018, the European Economic and Financial Affairs Council announced the adoption of a Council Directive which allows EU Member States to align their VAT rules for physical and electronic publications. Electronic publications are currently taxed at the standard VAT rate, while physical publications may be subject to reduced rates. With the adoption […]
Australian Treasurer, Josh Frydenburg, has announced that the Australian Government is taking steps towards removing the 10% GST that is imposed on feminine hygiene products in Australia. Frydenburg stated last week that it was the intent of the legislature to have an exemption in place by January 1, 2019 for these products. This announcement comes ahead […]
The Polish Insurance Ombudsman has suspended the Q4 2018 declaration and payment of the levy, citing article §17.5 of the Regulation of the Minister of Development and Finance. This permits the suspension of the Levy where the Ombudsman’s funding needs have been fully satisfied. The Q4 declaration would normally require the declaration of premiums collected […]
The Wyoming Department of Revenue has updated a bulletin clarifying that out-of-state retailers that make more than $100,000 of gross sales into Wyoming or engage in 200 or more separate transactions annually will be required to collect and remit sales and use taxes on all sales made on and after February 1, 2019 that are […]
The State of South Dakota has entered into a settlement agreement with the companies of Wayfair, Overstock, and Newegg. The settlement effectively ends the litigation between the state and the three online retailers that refused to comply with South Dakota’s remote seller law. In 2016, the South Dakota state legislature passed legislation requiring out-of-state retailers […]
Revenu Quebec recently released updated electronic specifications for Form RL-18, Securities Transactions. These specifications are used by filers to submit RL-18 reports electronically to Revenu Quebec. There are three specific updates to the specifications which were added to the TY 2018 version of the specifications. Possible values for the applicable year have been updated to […]
Revenu Quebec recently released an updated form and electronic specifications for Form RL-3. This form is used to report investment income to Revenu Quebec. Please note that the language policy in place requires communications with Revenu Quebec to be in French, and as such the forms are entirely in French as well. There are a […]
The National Statistical Institute of Bulgaria announced the following Intrastat thresholds for 2019: For Intrastat reporting dispatches, the threshold was increased from BGN 260,000 to BGN 280,000. For Intrastat reporting arrivals, the threshold was increased from BGN 430,000 to BGN 460,000. For further information regarding this announcement, please see here.
In a press release on October 16, 2018, Her Majesty's Revenue & Customs (HMRC) announced that the previously reserved pilot program for Making Tax Digital (MTD) was expanded to a much larger pool of businesses. According to the statement, HMRC is now allowing half a million businesses to enter the pilot testing program for MTD, in order […]
The Peruvian Tax Administration (SUNAT) published on October 15, 2018, regulation 242-2018/SUNAT, which establishes some new obligations to Operators of Electronic Services (OSEs) and also updates the sanctions for non-compliance when applicable. According to the new regulation, OSEs are now required to post in a web page the invoices that they have validated and make […]
Beginning December 1, 2018, the Colorado Department of Revenue will require in-state retailers to collect and remit state sales tax and any applicable state-collected local and special district taxes based on the jurisdiction’s tax rate at the point of delivery. This requirement includes deliveries of taxable goods to Colorado addresses that lie outside the retailer’s […]
The Treasury of Puerto Rico has released Form 480.7C, Informative Return – Retirement Plans and Annuities. Form 480.7C must be prepared for each participant or beneficiary of a retirement plan or annuity who, during Tax Year 2018, received a distribution of income from annuities or pensions from qualified or non-qualified plans under Section 1081.01 of the […]
The IRS recently released the tax year 2018 version of Publication 1187, Specifications for Electronic Filing of Form 1042-S. These specifications are used to file 1042-S reports electronically through the IRS FIRE system. There are a number of updates to the new version of this publication, which include the following: Part A, Section 6.0.1, Filing […]