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Posted April 2, 2019 by Alex Forbes
Sovos Extends Global Indirect Tax Solution to Simplify P2P Challenges

Embedded e-invoicing compliance, e-archiving and global tax determination will make procure-to-pay (P2P) platforms one-stop shop for the digital future of tax April 2, 2019 – AUSTIN – SAP Ariba Live – Global tax software leader Sovos today announced it has extended its embedded tax compliance solution for cloud-based procurement platform users. For more than a […]

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Posted March 29, 2019 by Sovos
Sovos Expert Addresses Tax in the Digital Economy in Latin American Advisor Newsletter

Christiaan Van Der Valk’s insights in The Dialogue’s Latin American Advisor newsletter on issues driving the debate over taxation in the digital economy are featured in a Q&A that starts on page 1. The Sovos vice president of strategy’s comments are on page 3. 

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Posted March 28, 2019 by Sovos
In the News: Sovos Expert Talks Brexit with Bloomberg Tax

In his recent piece for Bloomberg Tax, Jeff Gambold, Senior Regulatory Specialist at Sovos, shares his thoughts and some guidance for businesses in the event of a No-Deal Brexit. Read the article here: https://bit.ly/2OtFJSu

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Posted March 12, 2019 by Sovos
New Sovos Tax Information Reporting Solution Solves Escalating Tax Challenges for Accounts Payable Leaders

Already regarded as the best 1099 reporting tool on the market, the recently upgraded Sovos Tax Information Reporting signed 150 new corporate and financial institution clients in just three months Sovos’ new TIR solution is the only product able to perform real-time taxpayer identification number (TIN) checks and offers a simplified data import, consolidating information […]

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Posted March 8, 2019 by Sovos
INSIGHT: How are Governments Tackling the Great VAT Gap?

In this piece for BloombergTax, Christiaan Van Der Valk, VP of Strategy at Sovos, examines the global VAT gap, through which governments lose billions every year. With such high levels of loss, how can governments confront the problem? Latin America offers lessons. Read more

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Posted February 19, 2019 by Sovos
Sovos Joins Wall Street Blockchain Alliance

Sovos has joined the Wall Street Blockchain Alliance, an industry leading non-profit trade association with a mission to guide and promote comprehensive adoption of blockchain technology across global markets. Read the press release. 

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Posted February 5, 2019 by Sovos
Platforms: Where the real ‘Wayfair’ money is

This article from International Tax Review reporter Alexander Hartley cautions vendors to beware of getting caught between states and their sales tax collection, as online platforms like eBay and Amazon now represent big cash prizes — and a host of technical complications — in the wake of the South Dakota v. Wayfair Supreme Court decision. […]

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Posted February 5, 2019 by Sovos
Will clearance e-invoicing spread through the EU?

International Tax Review reporter Joe Stanley-Smith writes that governments around the EU are watching Italy to see if its new mandatory e-invoicing system (Sistema di Interscambio, or SDI) works, and whether it is effective in increasing the VAT intake.  Sovos’ Filippa Jörnstedt says, “My guess would be that the next country to introduce a clearance e-invoicing […]

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Posted January 31, 2019 by Sovos
Sovos es reconocido como el líder del mercado en el reporte “IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation

El completo análisis destaca los principales beneficios del “sofisticado software de impuestos en la nube” de Sovos BOSTON, enero de 2019 Según el estudio recientemente publicado, Sovos es ideal para “las empresas que están en búsqueda de un sofisticado software tributario capaz de satisfacer las altas demandas regulatorias de impuestos y facturación electrónica a nivel […]

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Posted January 28, 2019 by Sovos
Sovos Named a Leader in “IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation Applications”

Comprehensive assessment highlights key benefits of Sovos’ “sophisticated cloud tax software” BOSTON (PRWEB) January 28, 2019 Sovos, a leading global provider of tax software, today announced it is recognized as a Leader in the inaugural “IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation Applications 2019 Vendor Assessment.” According to the newly released report, […]

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Posted January 23, 2019 by Sovos
Wine Shipments to Consumers Hit Record $3 Billion in 2018

2019 Direct-to-Consumer Wine Shipping Report highlights historic growth in prices, leading to 50% growth in value in three years (BOSTON) January 23, 2019 – Wineries shipped a record $3 billion worth of wine directly to consumers in 2018, according to the 2019 Direct-to-Consumer (DtC) Wine Shipping Report from Sovos and Wines Vines Analytics. The […]

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Posted January 23, 2019 by Sovos
Manufacturers Face New Sales Tax Obligations in an Increasingly Digitized Economy

A series of United States Supreme Court rulings over the past half-century limited manufacturers’ sales tax compliance obligations. The Court consistently dictated that states could not require businesses to collect and remit sales tax unless they had physical presences there—in other words, property owned or people based within state borders. But all this has changed […]

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Posted January 23, 2019 by Sovos
Despite ‘panic’, Italian e-invoicing seems to have landed smoothly

This article from International Tax Review reporters Joe Stanley-Smith and Alexander Hartley looks at Italy's new e-invoicing regime, which came into effect on January 1. Companies expected teething trouble, but the early signs are positive and the changes should lead to long-term benefits.  Sovos Alliances Sales Manager Filippa Jornstedt tells International Tax Review, "I don’t […]

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Posted December 18, 2018 by Sovos
Blockchain Can’t Hide Cryptocurrency Revenues from the IRS

Blockchain technology and cryptocurrencies are natural partners, with decentralized control mechanisms and distributed models that emphasize secrecy as much as they offer privacy or security. For the IRS, secrecy is a problem. More precisely, it’s a missed revenue opportunity. In an effort to collect tax on the booming crypto trade, the agency has already shown […]

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Posted December 12, 2018 by Sovos
After Wayfair Ruling on Sales Tax, Preparing for Holiday Retail Surge

Retailers will be on the hook for calculating and filing more taxes in more states than ever. With the already stressful holiday season upon us, companies need to scramble to ensure they are in compliance. Here’s what retailers can do to prepare. [Read more on Total Retail.]

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Posted December 7, 2018 by Sovos
The Challenge Of SAP-Native Tax Compliance

Momentum is growing in the adoption of modern enterprise resource planning systems (ERPs), like SAP S/4HANA and cloud-based deployments, especially HANA Enterprise Cloud (HEC). Analysts predict cloud ERP deployments will become the default within the next two years, and traditional ERP software will be phased out… [Read more in E-3 Magazine]  

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Posted November 26, 2018 by Sovos
Why states hoping for online holiday sales to boost budgets may not get their wish

  On the low end, a U.S. Government Accountability Office report estimated that state and local governments could gain between $8 billion and $13 billion in additional annual revenue from online sales taxes. The National Conference of State Legislatures, however, pegs that figure at around $23 billion a year. Even if state budgets don't see a billion-dollar […]

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Posted November 26, 2018 by Sovos
Online retailers are now tax collectors

Arguably the most important change to taxation in the history of American retail is happening just in time for holiday shopping season… [Read more from Sovos Director of Regulatory Analysis Chuck Maniace in Entrepreneur]

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Posted November 26, 2018 by Sovos
Cyber Monday shoppers in many states should be ready to pay taxes

While shoppers will spend more this Cyber Monday on the hottest electronics and toys, many will also shell out more in taxes thanks to a recent Supreme Court ruling. “[If] you were taking advantage of online shopping as a means of potentially avoiding having to pay sales taxes on their purchases, depending on where you […]

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Posted October 5, 2018 by Sovos
IRS Releases Updated Publication 1586

The IRS recently released an updated version of Publication 1586, Reasonable Cause Regulations & Requirements for Missing and Incorrect Name/TINs. This publication details the information related to penalty notices issued by the IRS (Notice 972CG), the procedure for addressing such notices, and the penalties themselves. There are a number of updates to the content of […]

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