Blog

Leading Financial Institution Shares AEOI Compliance Best Practices

November 14, 2016, 12:00 pm EST in AEOI Reporting, AEOI Reporting, Blog

In September, we held an exclusive AEOI networking event in New York City, where we brought together representatives from the IRS, leading financial intuitions and other industry practitioners all in one room to discuss the importance of syncing tax compliance and tax operations in light of the latest updates in...

The Future of ACA in the Wake of the Election

November 11, 2016, 8:00 am EST in Affordable Care Act, Blog

Tuesday’s presidential election spurred hyperbolic talk about potential implications to Affordable Care Act (ACA) legislation, leaving businesses wondering if they would still need to comply with this legislation and what it may look like going forward.First, it is important to remember that ACA is still in effect and will continue...

The U.S. election brought changes to many states’ tax rules

2016 Election Overview: new taxes, changes in existing rates and restrictions on implementation of new taxes

November 10, 2016, 5:44 pm EST in Blog, Enterprise Sales Tax

Tuesday, November 8th was Election Day in the United States. Federal, state and local offices and ballot questions brought millions of American’s to the polls. As with every election there were results that were expected, some surprises and many changes that will impact the business community in the coming years.Sovos...

Special Delivery: Missouri and the Taxability of Delivery Charges

November 7, 2016, 8:00 am EST in Enterprise Sales Tax

What is the taxability of delivery charges in Missouri?As a general rule, services are exempt from sales and use tax in Missouri unless specifically taxable by law. Delivery and freight services are not specifically identified as taxable services. Therefore, they are exempt from sales and use tax as standalone services.In...

Missouri Voters to Decide on a Constitutional Ban on Taxing Services

Missouri Voters to Decide on a Constitutional Ban on Taxing Services

November 4, 2016, 8:00 am EST in Blog, Enterprise Sales Tax

Voters in Missouri are to decide on a Constitutional amendment restricting sales taxes on services. Synopsis: Missouri is voting on a constitutional amendment that could severely impact sales tax policy for generations. The Election This election season we are electing a new president, seats in the U.S. House of Representatives and Senate are up...

VAT country by country news

VAT country by country news summary for October 2016

October 31, 2016, 1:00 am EST in Blog, Value-Added Tax

Welcome to the Sovos Compliance monthly summary of Value Added Tax news and insights curated and summarized by our Tax Research Team. Here is the country-by-country summary for October 2016.Belgium: VAT on Feminine Hygiene Products On October 5, 2016, a bill was introduced in the Belgian Chamber of Representatives which,...

European Union news overview for October 2016

VAT Updates – European Union news overview for October 2016

October 28, 2016, 1:00 am EST in Blog, Value-Added Tax

Here is a summary of news and updates related to value-added-tax in the European Union during the month of October 2016. Publication of Draft Improvements to Cross-Border VAT Rules On October 7, 2016, the European Council published a set of draft conclusions regarding potential improvements to current VAT rules on cross-border transactions....

Vermont’s Exemption on Cloud Computing

Vermont’s Exemption on Cloud Computing

October 19, 2016, 6:00 am EST in Blog, Enterprise Sales Tax, Value-Added Tax

Last year Vermont enacted legislation to be exempted from taxation sales of cloud computing (also known as remotely accessed prewritten software, Software-as-a-Service, “SaaS”, or ASP). A Brief Legislative History In 2010, Vermont issued a technical bulletin that interpreted existing law as imposing tax on prewritten software regardless of how the software was...