Blog

How to File Sales Tax as a Multi-Level Marketing (MLM) Business

Direct selling companies and multi-level marketing (MLM) businesses have numerous complexities to consider when it comes to sales tax calculation and reporting requirements. Along with an expansive physical nexus footprint, direct sellers must know how their products and services are taxed around the country. It’s a daunting task when facing it alone.  Where are you […]

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Italy: Understanding the New E-Document Legislation Requirements

In September 2020, the Agency for Digital Italy (AGID) introduced new requirements for the creation and preservation of electronic documents, which will be enforced from 7 June 2021. This blog discusses the requirements and how they affect the issuance and storage of e-invoices. Electronic Documents in Italy The AGID is responsible for the Italian digital […]

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What to Expect with New Sales Tax Software Implementation

Change is rarely easy, but when it comes to implementing new sales tax software it doesn’t have to be a constant struggle. Organizations want to know that the implementation process includes hands-on assistance and a timeline that makes sense – for all parties involved.  Our Sovos implementation is designed to deliver value quickly and to […]

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New York Unclaimed Property Self-Directed Compliance Program

Continuing the trend in 2021, New York unclaimed property recently introduced the NY Self-Directed Compliance Program  geared towards identifying both non-reporters and companies that reported in 2021, but failed to report property types expected to be seen. Due to negative economic impact resulting from COVID-19, Sovos’ consulting, reporting and regulatory teams have been preparing for […]

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What’s on the horizon for Insurance Premium Tax in Europe?

Europe has seen relatively few changes to insurance premium tax (IPT) rates recently. The most notable recent change was the 33% increase in IPT rate in Spain (up from 6% to 8%) at the beginning of 2021. Brexit became official on 1 January 2021, following the end of the transition period. This means UK based […]

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The Latest RUUPA Updates

On July 13, 2016 the Uniform Law Commission (ULC) approved its drafting committee’s final draft of the Revised Uniform Unclaimed Property Act (RUUPA). The approved RUUPA is now considered the latest version of a model law that will serve as reference for state legislatures in modifying and enhancing current state unclaimed property statutes. The introduction […]

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Tips to Minimize Risk for Form 1099-K Reporting

Financial services and institutions are especially vulnerable to the increased risks that come with handing significantly more Forms 1099 due to new IRS regulations. If you‘re tasked with managing compliance or managing fraud for your organization, this burden may very well fall into your lap. It’s important to be proactive in safeguarding your organization from […]

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Why Sellers of Software and Digital Goods Must Consider Sales Tax

Economic nexus thresholds have become standard procedure for most U.S. states, but the taxability of software and digital products continues to vary across taxing jurisdictions. Software and digital goods suppliers understandably have questions about sales tax. Where do my digital products or software have special tax treatment? How do I handle sales tax with bundled […]

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Evolution Towards a Better Beer Distribution System for All

By Marc Sorini Marc Sorini is General Counsel for the Brewers Association. Prior to joining the BA, he represented small and independent craft brewers for over two decades as a partner with McDermott Will & Emery law firm, representing the BA and its predecessor organization, the Brewers Association of America (BAA). Sorini’s accolades include Go-To […]

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In Its Largest Acquisition Outside the U.S., Sovos Buys Acepta’s Digital Enablement Business

Today, Sovos announced our most recent acquisition – a deal that is our largest ever outside of the United States, and one that brings our global team to more than 2,000 employees. While the acquisition of Chile-based Acepta certainly marks some milestones for Sovos, it more importantly signals even broader support for our customers throughout […]

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Wine New Product Registrations Spike 64% from Q4 of 2020

Both beer and spirits new product registrations continue to see positive growth in Q1 2021 The past year has seen drastic changes in consumer buying patterns, with variation in what is being purchased, where and how often, impacting the beverage alcohol industry in many ways. Sovos ShipCompliant reviewed data from our Product Registration Online (PRO) […]

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The EU VAT e-Commerce Package and OSS: Your Questions Answered

We hosted a webinar about the upcoming EU VAT e-commerce package with our VAT team. Topics included the One Stop Shop (OSS), Import One Stop Shop (IOSS) and the new VAT obligations for sellers and marketplaces that will impact your business. Although our expert team answered plenty of questions, they didn’t have time for everyone. […]

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EESPA Standard: E-Invoicing Compliance Definitions and Responsibility Allocation Framework

EESPA, the European E-invoicing Service Providers Association, recently published EESPA Standard Definitions for Legally Compliant Electronic Invoicing and their usage. This document aims to provide a basis for e-invoicing service providers and their customers to agree on allocation of responsibility of the legal compliance of processes supported by the services. These standard definitions will contribute […]

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5 Fast Facts about Retailers Shipping DtC

Direct-to-consumer (DtC) shipping has increased in popularity over the years, and has been very successful in the wine industry. Unfortunately for retailers shipping DtC, they have not been able to enjoy the same level of success due to a much more limited map. But as DtC shipping continues to grow in popularity retailers are trying […]

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3 Ways Real-Time Software Benefits DtC Wine Shipping

Last year, wine shipments to consumers reached a record $3.7 billion, with a 27% year-over-year increase in direct-to-consumer (DtC) shipment volume. With no indication of slowing down, wineries must ensure that they utilize the right tools to protect their bottom line, collect the right tax rates and ensure compliance on every transaction. Implementing real-time software […]

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The Four Tax Reporting Trends SAP Customers Need to Know

The digitization of tax authorities has come a long way since its beginnings in 2003. Tax administrations have realised the benefits that technology can bring to VAT reporting. Countries around the world have adopted continuous transaction controls (CTCs) and e-invoicing, with new tax administrations joining the trend every year. There are four trends that all […]

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IPT Changes in Europe 2021: Your Questions Answered

We hosted a webinar about the IPT regulation changes in Europe with our IPT team. Topics included Spain’s IPT increase, Portugal Stamp Duty reporting and other IPT changes across Europe, including Germany, France, Luxembourg, Belgium and Denmark. Although our expert team answered plenty of questions, they didn’t have time for everyone. Here’s a helpful summary. […]

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Audio Blog: Saudi Arabia: The Gulf’s CTC Pioneer

Saudi Arabia will start its introduction of a new e-invoicing system from 4 December 2021. The mandate will require all taxable persons residing in the Kingdom to generate, process and store e-invoices electronically. In this episode of the Sovos Expert Series, Harri Vivian sits down with Selin Ring, Regulatory Counsel at Sovos, to explain how […]

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