Regulatory Analysis

Posted January 5, 2024 by Robert Pelletier
Antigua and Barbuda: Standard Sales Tax Rate Increase from January 1, 2024

Pursuant to the Antigua and Barbuda Inland Revenue Department announcement on December 22, 2023, the ABST (sales tax) rate increased from 15% to 17% effective January 1, 2024. The announcement can be found here.

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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 November 27, 2023 by Maria del Carmen
PERU: The tax authority will not sanction those taxpayers who have not observed the forms and conditions related to the SIRE until April 30, 2024.

Through Resolution No. 000039-2023-SUNAT/700000, the authority grants a grace period for the non-application of penalties for infractions related to books and records related to tax matters kept electronically. The tax authority will not sanction those taxpayers who have not observed the forms and conditions related to the SIRE as well as the closure of their […]

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Posted November 27, 2023 by Maria del Carmen
COLOMBIA: The tax authority released the Official Gazette dated November 2, which contains the long-awaited Resolution 000165 which establishes various provisions on electronic invoicing.

Among the main changes and regulations established by the resolution are: Technical Annex 1.9 of the electronic sales invoice • It incorporates new fields and validations for generation and transmission, as well as for registration as a security in the RADIAN. • It establishes that the subjects obliged to invoice must adopt this version within […]

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Posted November 14, 2023 by Maria del Carmen
PERU: The tax authority issues the Guide to Accept Proposal from the SIRE.

The tax authority issues the Guide to Accept the Proposal from the SIRE (Integrated System of Electronic Records). SISTEMA INTEGRADO DE REGISTROS ELECTRONICOS – SIRE | Comprobantes de Pago Electrónicos (sunat.gob.pe) 

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Posted October 9, 2023 by Maria del Carmen
DOMINICAN REPUBLIC: The Tax Authority published the first list of more than 500 obliged to invoice electronically no later than January, March and May 2024.

The tax authority through Notice 08-23, establishes the implementation schedule of electronic invoicing for large national taxpayers in the following terms: “To ensure the implementation in a smooth and orderly manner during the period stipulated in the Law, the Large National Taxpayers have been segmented according to the following schedule:” It is important to mention […]

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Posted August 17, 2023 by Maria del Carmen
PANAMA: This July 31 was the deadline for those companies that provide goods and services that contract with the Government institutions to request their exception to the implementation of the Electronic Invoicing System.

Through Resolution 201-5160a, the tax authority established that on July 31, 2023, expired the deadline for request in a justified manner the exception to the Electronic Invoicing System, for those companies that provide goods and services to the Government. This request will be subject to a resolution of the General Directorate of Revenue in which […]

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Posted July 19, 2023 by Maria del Carmen
Costa Rica: Costa Rica’s tourist services back to the general rate of 13% of the Value Added Tax (VAT).

Costa Rica: As of July 1 Costa Rica’s tourist services charge the general rate of 13% of the Value Added Tax (VAT). The Law of Attention to the Tourism Sector on the occasion of the Covid-19 Emergency, provided for a differentiated treatment in the collection of VAT to the economic activities of tourism due to […]

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Posted July 3, 2023 by Maria del Carmen
PERU: The Tax Authority (SUNAT) will not apply sanctions in case the taxpayer obliged to issue “Guias de Remision” electronically, does so physically, until December 31st, 2023.

The Tax Authority (SUNAT) will not apply sanctions in case the taxpayer obliged to issue “Guias de Remision” electronically, does so physically, until December 31st, 2023. It is important to keep in mind that it is not that the start of the obligation is postponed, which is still on July 1st, however, if the taxpayer […]

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Posted June 6, 2023 by Maria del Carmen
Argentina: New tool to monitor and correct deviations called Electronic Control Action System (SIACE).

On May 31, 2023, Argentina published the AFIP General Resolution No. 5364/2023, through which it establishes the Electronic Control Action System, its implementation and Administrative Statuses of the Unique Tax Identification Code (CUIT). Through this resolution, a procedure for controlling compliance with tax, customs and social security obligations of taxpayers and/or responsible persons called the […]

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Posted June 5, 2023 by Maria del Carmen
DOMINICAN REPUBLIC: The Electronic Invoicing Law enters into force.

On May 17, 2023, the Electronic Invoicing Law was published in the Official Gazette of the Dominican Republic, whose purpose is to regulate the mandatory use of electronic invoicing in that country and sets the Electronic Invoicing Tax System and its features, optimization results and contingencies; as well as establishing the mandatory implementation deadlines and […]

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Posted May 24, 2023 by Bradley Feimer
Puerto Rico Releases Admin Determination No. 23-02 Concerning Hurricane Preparedness Sales Tax Free Period

On May 15, 2023, Puerto Rico’s Hacienda Department released Administrative Determination No. 23-02. The circular specifies the hurricane preparedness sales tax free period will take place on May 26-28, 2023. The circular also reiterates that products such as batteries, water, non-perishable food, storm preparedness supplies, and certain emergency equipment or supplies are included in the […]

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Posted May 23, 2023 by Maria del Carmen
Peru: First authorized checkpoint for refund of the IGV in favor of tourists is designated

On May 1st, 2023 SUNAT published Resolution 097/2023 that establishes the procedure for returning the General sales Tax (IGV) to tourists, indicates the date of operation of the first authorized checkpoint and regulates other provisions. This resolution establishes that the authorized checkpoint of the international air terminal is located in the pre-boarding control area of […]

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Posted April 28, 2023 by Maria del Carmen
Guatemala: Extends the term of incorporation into the Electronic Invoicing Regime (FEL) to Small Taxpayer Regime.

The Superintendency of Tax Administration (SAT) published on March 31, 2023, the resolution SAT-DSI-400-2023 in which it extends the term of incorporation into the Electronic Invoicing Regime (FEL) to individuals and legal entities that are registered in the Small Taxpayer Regime, who must start with the issuance of their Electronic Tax Documents (DTE) no later […]

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Posted April 24, 2023 by Maria del Carmen
Argentina: The mandatory application of the ” Carta de Porte Electrónica – Derivados Granarios” for certain granary derivatives was differed.

On April 11, 2023, the AFIP published in the Official Gazette Resolution No. 5344/2023 through which it defers the mandatory application until June 2, 2023, of the “Electronic Waybill – Granary Derivatives” for granary derivatives, with the exemption of the following products: BROKEN SUNFLOWER – SPLIT (152); BROKEN CORN – SPLIT (187); SOJA DEACTIVATED (218), […]

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Posted March 23, 2023 by Andrés Landerretche
Ecuador: Update of Guide for Taxpayers on Cancellation of Electronic Vouchers

The tax authority in Ecuador (SRI) has published an updated version of the Guide for Taxpayers on Cancellation of Electronic Vouchers.  The document describes the functionality of the cancellation option for electronic receipts authorized by the Internal Revenue Service. This functionality allows to carry out the entire process of annulment of electronic receipts, which includes: […]

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Posted March 23, 2023 by Andrés Landerretche
Ecuador: Guide for Taxpayers on Negotiable Commercial Invoice

The Internal Revenue Service of Ecuador (SRI) has published an update of the taxpayer guide for the negotiable commercial invoice. The document describes the functionality of the application of invoices that are authorized by the SRI under electronic modality, as negotiable commercial invoices.

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Posted February 27, 2023 by Maria del Carmen
New VAT collection Regime on the sale of food and other products for human consumption.

The AFIP published the Resolution No. 5329/2023 on February 13, 2023, which among other topics set a new VAT collection regime on the sale of food products for human consumption, beverages, personal hygiene and cleaning articles. The amount of the charge will be determined by applying, on the net price of the operation resulting from […]

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