Blog

VAT country by country news summary for December 2016

VAT country by country news summary for November 2016

December 5, 2016, 4:13 pm EDT in Blog, Value-Added Tax

Welcome to our monthly summary of Value Added Tax news and insights curated and summarized by the Sovos Compliance Tax Research Team. Here is the country-by-country report for November 2016. European Council Adopts Conclusions on Cross-Border VAT Rules On November 8, 2016, the Council of the European Union officially adopted a set...

New DC PaintCare Fees Complicate U.S. Paint Stewardship Compliance

December 2, 2016, 8:00 am EDT in Blog, In the News

Effective November 1, 2016, the District of Columbia (DC) is imposing a paint recovery fee (also known as a PaintCare fee) on qualifying architectural paint products. This new PaintCare fee will make compliance slightly more difficult for paint retailers accustomed to the current size-based product fee structure. History PaintCare fees are nothing...

IRS

IRS is Extending ACA Filing Deadline and Good Faith Compliance Standard

November 21, 2016, 11:46 am EDT in Affordable Care Act, Blog

The Internal Revenue Service (IRS) made two important announcements regarding the information reporting requirements imposed under the Affordable Care Act (ACA) in Notice 2016-70, released on November 18, 2016. Specifically, the IRS announced:That it was extending the due date for furnishing statements to recipients (Forms 1095-B and 1095-C) That...

blog-vat-in-a-digital-age-event-wrap-up-saf-t-transparency-and-data-analysis-trends-in-vat-compliance blog image

VAT in a Digital Age Event Wrap-up: SAF-T, Transparency, and Data Analysis Trends in VAT Compliance

November 16, 2016, 4:11 pm EDT in Blog, Value-Added Tax

Thank you to all who attended our third “VAT Compliance in a Digital Age” event on November 3 at the beautiful Sofitel - Legend the Grand in Amsterdam. The standing-room-only gathering included an interactive discussion focused on the digital developments around SAF-T reporting.Our guest speaker, Daniel Kroesen from Ernst &...

Leading Financial Institution Shares AEOI Compliance Best Practices

November 14, 2016, 12:00 pm EDT 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 EDT 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...