Stay ahead of compliance changes in an era of constant change throughout Europe.
Sovos is an ally for businesses as European countries roll out complex e-invoicing and fiscal reporting requirements.
Following the global trend of governments leveraging technology to increase tax revenues and crack down on fraud, European tax authorities are introducing legislation that changes the way companies operate. These governments are requiring real-time, transaction level data, forcing companies adapt their AP, AR and tax reporting processes or risk fines, penalties and audits.
A 2016 EY report showed that 23 countries require VAT/GST payers to provide information about their individual transactions to the tax administration, and in 16 countries, VAT/GST payers must submit individual tax invoices. Those numbers are only growing. Keeping up with all of these changes presents a daunting challenge to companies – requiring not only significant knowledge, but also flawless technical execution.
With unrivaled experience in global e-invoicing and fiscal reporting compliance, Sovos safeguards companies in Europe from the hassles of this ever-evolving landscape. With the Intelligent Compliance Cloud, customers remain confident in compliance so they can focus on their core business objectives.