Regulatory Analysis
In a strategic push toward digital transformation, the Sultanate of Oman is preparing to roll out a national electronic invoicing (e-invoicing) system as part of its broader efforts to modernize tax administration. This initiative, led by the Tax Authority, aims to simplify compliance, reduce administrative burdens, and align Oman’s tax systems with international digital standards. […]
The French authorities have published the official standards issued by AFNOR (the French Association for Standardization) regarding the structure and format of invoice messages and their lifecycle statuses. These standards aim to harmonize data exchanges within the French e-invoicing ecosystem. They define the required formats and technical specifications for message flows between Partner Dematerialization Platforms […]
The Bulgarian National Revenue Agency (NRA) has published the official SAF-T XML schema and accompanying technical documentation in preparation for the upcoming SAF-T mandate, scheduled to start in January 2026. A 30-day public consultation is also announced. The NRA invites stakeholders to submit their proposals, opinions and comments via e-mail. The Bulgarian SAF-T mandate will […]
On 8 March 2025, the Ministry of Finance of the Republic of Serbia published the Rulebook on Electronic Delivery Notes (Pravilnik o elektronskim otpremnicama) in the Official Gazette RS No. 21/2025. This follows the adoption of the Law on Electronic Delivery Notes (Zakon o elektronskim otpremnicama), which was published in Official Gazette RS No. 94/2024. […]
The Latvian Parliament (Saeima) is currently considering a proposal to postpone the mandatory B2B e-invoicing go-live date by one year, from 1 January 2026 to 1 January 2027. The proposal was submitted on 15 April 2025 by the parliamentary group United List as an amendment to the Law on Accounting. If adopted, the revised implementation […]
New York recently released the new and improved version of NYS-45 (Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return). The updated form must be used for all quarterly starting on or after March 1, 2025. The updated form reflects significant changes to New York’s withholding requirements that were implemented in March 2025. Under the […]
The IRS recently released an updated version of Form 1099-MISC, which is used to report a multitude of payment types including rents, royalties, attorney payments, and other income payment types. Beginning with tax year 2025, the excess golden parachute payments will no longer be reported in Box 14 of Form 1099-MISC, but instead in Box […]
The IRS recently released an updated version of Form 1099-Q (Payments from Qualified Education Programs). This form is used to report distributions from qualified tuition programs (QTPs) under section 529 and Coverdell education savings accounts (CESAs) under section 530. Most notably, a new checkbox has been added to Box 4 and labeled 4b for reporting […]
The IRS recently updated Form 1099-NEC (Nonemployee Compensation). Beginning with tax year 2025, excess golden parachute payments to non-employees will be reported in Box 3 of Form 1099-NEC. Previously, excess golden parachute payments were reported in Box 14 of 1099-MISC and Box 3 of 1099-NEC was reserved for future use. The Form 1099-NEC revision date […]
The IRS recently released the 2025 General Instructions for Forms W-2 and W-3. There are several notable updates. The due date for filing the 2025 W-2 with the Social Security Administration (SSA) has been updated to February 2, 2026 because the statutory due date of January 31 falls on a Saturday. The information about requesting […]
The New York State Department of Taxation and Finance recently published the new Publication 72.5 (Electronic Reporting of NYS-45 Information) for quarterly reporting. Beginning March 21, 2025, Publication 72.5 specifications will be used to file all three parts of NYS-45 in a combined report through NYS-45 Web Upload. The NYS-45 Web Upload is used to […]
New York recently updated the webpage it maintains for upcoming changes to its withholding requirements. By March 2025, New York intends to significantly overhaul its withholding and wage reporting requirements. The following updates were observed: For NYS quarterly reporting, Publication 72.5 has not yet been released but is expected to be released soon. This publication […]
The Inland Revenue Board of Malaysia (IRBM) has recently updated their guidelines to include a postponement of the CTC mandate for certain small taxpayers. Previously, all taxpayers were set to be in scope by 1 July 2025. However, two new taxpayer groups have now been introduced: Taxpayers with an annual turnover or revenue of more […]
Effective January 1, 2025, West Virginia requires income tax withholding from gambling winnings at a rate of 4.82%. The same rate applies for backup withholding from gambling winnings. This is a reduction from the previously announced 2025 withholding rate of 4.92%. For 2024, West Virginia required withholding from gambling winnings at a rate of 5.12%. […]
The IRS recently released the 2025 General Instructions for Certain Information Returns (Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G). There are notable changes throughout: Filing and furnishing due dates have been updated throughout the guide to reflect holidays and weekends in 2026. Form 1099-DA (Digital Asset Proceeds from Broker Transactions) has been […]
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 […]
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 […]
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 […]