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  • 1099 Updates: June 2017

    1099 Updates: June 2017

    Regulatory and legislative updates to 1099 form requirements that took place in recent weeks. Individual states and the IRS introduce new 1099 form requirements and changes to existing legislation...

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  • Croatia Publishes New CRS Technical Instructions and Reporting Information

    The Croatian Tax Administration has published a final draft of its CRS Schema Guide and Technical Specifications. The specifications for several of the data elements and attributes in the XML have...

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  • Gibraltar Publishes CRS Guidance and Reportable Jurisdictions

    The Gibraltar Competent Authority has published its list of CRS reportable jurisdictions, as well as some specific guidance related to reporting obligations, due diligence, debt interest, the...

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  • Netherlands Publishes Reminder of AEOI Reporting Due Date

    The Netherlands Competent Authority, through their Community Data Partners website, published a reminder for all FIs submitting FATCA and/or CRS data in 2017. All submissions must be made by...

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  • Hong Kong Expands List of Reportable Jurisdictions to 75 Countries

    The Legislative Council of Hong Kong has passed a bill that adds 73 countries to its list of CRS Reportable Jurisdictions, bringing the total number to 75 jurisdictions. In enacting this bill,...

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  • Romanian Senate Rejects Zero-Rate on Social Housing

    The Romanian Senate has significantly amended a bill proposed by the ruling Social Democratic Party, which was designed to reduce VAT on social housing and agriculture. The bill originally...

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  • Portugal Simplifies Non-EU Travelers Exemptions

    The Portuguese Tax Authority (Autoridade Tributaria) has issued a new procedure intended to simplify the exemption applicable to purchases made by non-EU travelers visiting Portugal....

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  • Greece: VAT on Bad Debts is Non-Deductible

    The Greek Tax Administration has issued Circular letter No. 1080/2017, confirming that VAT on bad debts is not recoverable in most situations. The tax administration explains that only in very...

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  • United Kingdom: Queen’s Speech 2017

    The Queen’s Speech for 2017, delivered before Parliament on June 21, outlined 27 bills that will make up the government’s agenda for the next two years, including eight bills devoted solely to...

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  • India Notifies Non-Resident OIDAR GST Registration Process

    On June 19, 2017, the Indian Central Board of Excise and Customs published Notification 02/2017-Integrated Tax regarding the registration process for non-resident suppliers of online information...

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  • Court of Justice of the European Union: Recent VAT Decisions

    The Court of Justice of the European Union (CJEU) has recently published three decisions related to VAT law:  In Case C-26/16 (Santogal), a motor vehicle dealership in Portugal sold a new vehicle...

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  • Switzerland Confirms Revisions to VAT Act

    The Federal Tax Administration has announced the following revisions to the VAT Act, effective January 1, 2018: First, all companies resident in Switzerland and all companies providing services in...

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  • Czech Republic 2017 Changes to the VAT Law

    In April of 2017, the Parliament of the Czech Republic passed legislation that made important changes to the Republic’s Value Added Tax (VAT) Law. The act was then published and codified on June...

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  • Colorado Issues Emergency Draft Rules on July 1 Use Tax Notice and Reporting Requirement

     On July 1, 2017, Colorado’s long anticipated notice and reporting requirements for non-collecting retailers goes into effect.  This law requires retailers that do not have sales tax nexus but...

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  • Senate Drafts ACA Replacement Bill, Does Not Repeal Employer Reporting

    Senate leadership released a discussion draft of the Better Care Reconciliation Act of 2017 – its version of the House’s American Health Care Act (AHCA) intended to repeal and replace the...

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  • Sovos Named SIIA Business Technology CODiE Award Finalist for Best FinTech Solution Award

    Sovos Named SIIA Business Technology CODiE Award Finalist for Best FinTech Solution Award

    Sovos AEOI earns prestigious industry recognition. Sovos AEOI has been named a 2017 SIIA CODiE Awards finalist in the FinTech Solution category. Finalists represent the best products, technologies...

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  • Bermuda Launches Tax Information Reporting Portal with Guidance and Enrollment Deadline

    Bermuda’s Ministry of Finance has launched its Tax Information Reporting Portal, through which Financial Institutions and filers may enroll in and exchange account information pursuant to the...

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  • Senate Leadership Aims for AHCA Vote Next Week; Working Group Expresses Unease

    Senate Majority Leader Mitch McConnell has announced that leadership plans to release a “discussion draft” of their version of the AHCA bill on Thursday June 22^nd^, with a vote to be held on a...

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  • Bermuda Launches Tax Information Reporting Portal with Guidance and Enrollment Deadline

    Bermuda’s Ministry of Finance has launched its Tax Information Reporting Portal, through which Financial Institutions and filers may enroll in and exchange account information pursuant to the...

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  • The Sharing Economy, The Tax Gap, and Reporting Requirements

    The Sharing Economy, The Tax Gap, and Reporting Requirements

    Companies should take note of shifting 1099-K thresholds at the state level. The explosive growth of the “sharing economy” — including peer-to-peer business transactions for goods and services —...

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