Regulatory Analysis
In August 2024, the Polish Ministry of Finance (MoF) adopted a Regulation adding new elements to the JPK_CIT (SAF-T obligation for corporate income taxpayers) and making it a periodic obligation, with a phased roll-out starting 1 Jan 2025, among other provisions. However, on 10 September, the Polish government published a draft regulation to authorize the […]
The Greek authorities have published the awaited legislation (A. 1122 and 1123 of 2024) requiring taxpayers to submit domestic and cross-border transport document data to the myDATA platform in real-time and to obtain tax authority approval before the start of transportation. Transmission of transport document data has been possible via myDATA, but timelines have now […]
On August 16, 2024, the Polish Ministry of Finance (MoF) adopted the final version of the Regulation amending JPK_CIT, which introduces additional data to be reported on the accounting records. The updated JPK_CIT will consist of two schemas: JPK_KR_PD and JPK_ST_KR. The Act is currently awaiting publication in the official journal and is set to […]
Through resolution NAC-DGERCGC24-00000028, the SRI establishes the conditions, procedures and percentages of income tax withholding in the commercialization of concentrates and/or metal elements, as well as in the production and commercialization of mineral substances that come from a mining concession. The withholding percentages for marketers may be 2%, 4% and 10% and for concessionaires 1%, […]
Pursuant to bill HE 61/2024, the standard VAT rate in Finland increases from 24% to 25.5% effective from September 1, 2024.
The tax authority updated the billing amounts that require detailed information about the receipt recipient when the recipient is the final consumer. This measure is intended to strengthen the control regime for issuing receipts. The data must be specified when the invoiced amount is equal to or greater than $344.488 ARG (approximately $370.00 USD) and […]
Pursuant to Decree 72/2024/ND-CP as published on June 30, 2024, supplies of goods and services subject to the standard 10% VAT rate will continue to apply the temporary 8% standard VAT rate until December 31, 2024. The 2% VAT rate reduction, which was previously set to expire on June 30, 2024, has been extended by […]
The Sultanate of Oman Tax Authority announced the launch of a a VAT e-invoicing system in 2023. The plan to introduce mandatory B2B e-invoicing has been postponed to sometime in 2025. Initially, the plan was to roll out the system voluntarily in April 2024, with a mandatory schedule for large entities operating within the country starting in October […]
On July 21, 2024, the Peruvian Official Gazette published Superintendence Resolution No. 000145-2024. This resolution postpones the requirement for certain subjects to maintain the Sales and Income Registry and the Purchase Registry through the Integrated Electronic Records System (SIRE) from August 2024 to January 2025.
The Inland Revenue Board of Malaysia (IRBM) released a press note and updated documentation introducing a set of measures for the flexibilization of the upcoming e-invoicing obligation, as listed below. Please note, however, that there has been no postponement of the mandatory go-live date, which remains as 1 August 2024. Issuance of consolidated e-invoice for all transactions: […]
Resolution No. NAC-DGERCGC24-00000022, published on June 10, 2024 in the Official Register Supplement No. 575, establishes the possibility of imposing penalties from $460 to $13,800 USD for the non-delivery of sales receipts and the non-transmission of electronic sales receipts to the Internal Revenue Service (SRI). This resolution enters into force from the day of its […]
The Greek Tax Authority’s (AADE) has published an updated version of the Greek technical specifications for the myDATA e-accounting system. This is version 1.0.9 of July 2024 and contains the following changes: New fields, operational error codes, VAT Category values, and classification codes have been added, as follows: Added field POS tid Code under payment […]
Pursuant to the Council of Ministers Decree KDP 231/2024, the zero VAT rate that temporarily applies to basic food and consumer items such as bread, milk, eggs, baby foods, baby and adult diapers, female hygiene products, coffee, and sugar has been extended until September 30, 2024. The Decree can be found here (in Greek).
Pursuant to Royal Decree-Law 4/2024 of June 26, 2024, the temporary zero VAT rate on basic food items such as bread, flour, milk, cheese, eggs, fruits, vegetables, legumes, tubers, and cereals is extended until September 30, 2024. Olive oil will also be added to the list of basic items subject to the zero VAT rate […]
Pursuant to the Greek Ministry of Finance announcement on June 20, 2024, the temporary 13% reduced VAT rate in Greece that applied to the supply of coffee, cocoa, tea, chamomile, and similar beverages has been made permanent for such supplies provided as take away or delivery effective from July 1, 2024. The same supplies of […]
On June 27th, a new Joint Order from ANAF and AVR, on the Romanian e-transport system, was published. The new Order clarifies previously unregulated aspects of the broader mandate, applicable to the international transport of goods, as well some features of the domestic high fiscal risk mandate. Key amendments resulting from the new Order are: […]
The tax authority issued the RESOLUTION OF THE DEPUTY NATIONAL SUPERINTENDENCE OF INTERNAL TAXES No. 000017-2024-SUNAT/700000, which establishes that those who, being obliged to keep their records in the SIRE, have done so without observing the forms and conditions or have not done so for the periods of April, May, June and July 2024, will not […]
The Ministry of Industry and Productive Development through the Resolution 30/2024 updated the minimum amount that companies must meet to issue “Electronic Credit Invoice”. The authority updated the values of total sales for a company to be considered a MiPyme. The minimum amount from which companies must mandatorily issue an electronic credit invoice is also […]