Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to know about regulatory changes and developments in global tax regimes, to support you in your […]
A lot has changed in the direct-to-consumer (DtC) wine shipping channel since the January release of our Direct-to-Consumer Wine Shipping Report—changes in volume and value that have the market resembling pre-pandemic patterns. Note: The proprietary data featured in this mid-year report is compiled from an algorithm measuring total DtC shipments based on millions of anonymous […]
The Italian Customs Authorities recently updated their national import system by applying the new European Union Customs Data Model (EUCDM). These new changes came into effect on 9 June 2022. According to the new procedure, the old model of paper import declarations has been abolished. The import declarations are now transmitted to the Italian Customs […]
In India, the e-invoicing system has been live since 2020. Taxpayers in the scope of e-invoicing mandate must issue their invoices relating to B2B and B2G transactions through the e-invoicing system, which is a form of continuous transaction controls (CTC). However, B2C invoices are not issued through the CTC system, which means that B2C invoices […]
An increasing insurance premium tax (IPT) trend is using transactional level information in various returns and reports. Preparation and education are key to ensuring details are being captured on an ongoing basis rather than at the last moment. Furthermore, in some cases where legacy systems are being utilised and don’t have the capability to capture […]
As previously predicted by Sovos, the threshold for implementing mandatory e-invoicing has been lowered by the Indian authorities. According to the Central Board of Indirect Taxes and Customs Notification No. 17/2022 – Central Tax, from 1 October 2022 compliance with the e-invoicing rules will be mandatory for taxpayers with an annual threshold of 10 Cr. […]
Since 1 January 2019 foreign electronic service providers must issue cloud invoices, a type of e-invoice, for sales of electronic services to individual buyers in Taiwan. Alongside this, Taiwan’s local tax authorities have been introducing incentives for domestic taxpayers to implement e-invoicing despite this not being a mandatory requirement. Before diving into the details of the […]
The legal landscape for direct-to-consumer (DtC) shipping of alcohol is a hodgepodge of rules and regulations that vary from state to state. This follows the broad principle set out in the 21st Amendment that each state shall govern the “transportation or importation . . . therein of intoxicating liquors.” As such, New Hampshire can permit the […]
A parafiscal tax is a levy on a service or a product which a government charges for a specific purpose. It can be used to financially benefit a particular sector (public and private). Unlike the drastic changes in Stamp Duty reporting within the Portuguese region, the parafiscal taxes have remained consistent and unchanged for many […]
On 22 July, the EU Commission opened four new infringement proceedings against the United Kingdom for allegedly breaching the 2021 Northern Ireland Protocol on conditions related to customs requirements, excise tax and VAT. The EU has brought seven proceedings against the UK over the Protocol since 2021. The Northern Ireland Protocol Following the UK’s departure […]
The Alcoholic Beverages Control Commission in Massachusetts recently announced that they will be conducting Minimum Purchase Age Compliance Checks in retail stores and aimed at direct-to-consumer (DtC) wine shippers through December 31, 2022. With this information in mind, now is a great time to refresh your age verification knowledge and company policy. What are age […]
Data is one of the most valuable assets of companies and individuals. Data gathered, cleaned and analysed well enables businesses to realise their utmost capabilities. With the digitization trend, error-prone paper forms, ledgers and books are replaced by electronic versions. This development gave companies more control over their data and liquidated data for further analysis. […]
Smaller product categories in wine and beer/malt lead the way Summer has officially arrived, and with rising temperatures also come rising beverage alcohol product registrations. While the industry is not seeing the same spikes as during the height of the COVID-19 pandemic, there are still signs of positive growth. There were increases in Product Registration […]
Latest Changes 1 July begins the second half of 2022, and in line with that milestone, changes have started to be implemented in the CTC sphere. In this blog, we highlight vital developments that have taken place in and outside Europe that may influence the continuous transaction controls (CTC) landscape globally. The Philippines: Pilot program […]
The three-tier system is the most prevalent way that spirits are sold in the United States. We have compiled a comprehensive state-by-state guide that outlines the complex requirements distillers must keep in mind when expanding into a new state. In this blog, we will break down the main regulatory and tax rules that distillers distributing […]
Earlier this month, Washington released an Interim Guidance Statement on the taxability of non-fungible tokens (NFTs). In short, the Washington Department of Revenue (DOR) suggested that certain types of NFTs would be subject to sales and use tax under existing rules applicable to digital goods and would also be subject to their business and occupancy […]
On July 13, the Uniform Law Commission (ULC) voted to approve a model act that could impose significant burdens on businesses engaged in direct-to-consumer (DtC) shipping of beverage alcohol. (Read on to find out just who the ULC is, anyway.) While the model bill has not garnered a lot of attention yet, what attention it […]
Sales tax is commonly a driving force for revenue, yet it can be utilized by legislatures to influence change in public policy. Whether the policy sought is centered on economic, public welfare or environmental grounds, tax has been historically used as a facilitator. For example, plastic bags at checkouts of food markets are often subject […]