Businesses today face complex taxation and reporting obligations in each and every country where they operate as a result of government initiatives for more visibility into business operations to reduce tax gaps. Here’s why:

  • According to the IRS, the US Tax Gap for 2008-2010 was $458 billion.
  • VAT collections represent nearly 60 percent of tax revenue in Latin American countries, so fraud and evasion cost trillions of dollars.
  • The EU VAT Gap based on 20114 data was €159.5 billion, according to a case study commissioned by the European Commission.

Since governments are cracking down and using technology to change the way they regulate, there is little room for error. As a result, organizations are forced to keep up with country-specific requirements and adapt to new technology-driven processes that can change multiple times per year.

The Sovos Intelligent Compliance Cloud offers tax professionals the ability to stay ahead of evolving global compliance initiatives. With the ability to convert vast experience and knowledge into highly functional software, Sovos offers tax professionals the first global platform of its kind to support complex compliance obligations in the U.S. and across the EMEA and Latin American regions.

  • Be proactive

    Respond to new tax and reporting obligations you don’t yet see coming.

  • Ensure accuracy

    Remain confident that your business or your clients’ businesses are running on the most complete and accurate regulatory analysis.

  • Consolidate data

    Stay in control of the data you need across a patchwork of systems.

  • Stay up-to-date

    Keep up with each jurisdiction thanks to local knowledge coupled with a reliable, stable and secure global platform.

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Sovos Difference

Sovos is the only software business built to combine local knowledge and industry expertise with flexible, reliable software to keep companies accurate and timely in fulfilling their obligations. Trusted by all of the “Big Four” accounting firms, our proprietary approach proactively solves the most complex and unanswered compliance obligations while ensuring data is protected throughout every step of every process.

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