When New York first passed its law defining what constitutes a “vendor” subject to collecting sales tax in the 1980’s, the idea of online shopping sounded like science fiction. In retrospect, NY may have effectively enacted the first “economic nexus” law when they drafted their definition of “vendor” to include a person who regularly or […]
Sovos Colombia eInvoicing Solution Earns Powered by SAP NetWeaver® Certification
The Sovos eInvoicing solution for Colombia has achieved SAP certification as powered by the SAP NetWeaver® technology platform. The solution integrates with SAP NetWeaver and safeguards companies doing business in Colombia by automating real-time electronic invoicing processes as required by Colombian mandates.
All companies doing business in Colombia must adopt electronic invoicing by Jan. 1, 2019, at the latest. Failure to comply can expose businesses to fines and penalties by Colombia’s tax administration (DIAN) and in some cases lead to the closure of businesses. Sovos provides the only solution for electronic invoicing certified by the DIAN.
Now, the SAP® Integration and Certification Center (SAP ICC) has certified that the Sovos eInvoicing solution for Colombia is powered by SAP NetWeaver. Solutions that are powered by SAP NetWeaver can be more quickly and easily integrated into SAP® solution environments. Customers can benefit from improved interoperability with SAP applications and with the large ecosystem of solutions that run on SAP NetWeaver. Choosing an SAP-certified solution can also help reduce overall IT investment costs and risks.
With a certified solution powered by SAP NetWeaver, companies doing business in Colombia can both eliminate the risks of non-compliance under the Colombian electronic invoicing mandate and operate more efficiently and cost effectively with a solution certified to run on SAP.
With recent enforcement measures, the IRS has offered definitive proof that the Affordable Care Act (ACA) is still alive and that the agency plans to strictly enforce ACA reporting. Last spring, the agency issued Letter 226J to Applicable Large Employers (ALEs) that failed to cover 95 percent of employees. ALEs are companies with 50 or […]
UPDATE (Jan. 8): Reporting season is moving forward according to plan. The IRS has announced that it will process tax returns on schedule and without delays. While the agency will clarify its contingency plan in the coming days, organizations should proceed as planned with 1099 reporting and other seasonal filings. The IRS will recall a […]
The South Dakota v. Wayfair decision last June has created a lot of angst for indirect tax professionals and the businesses they work so hard to protect from the burdens of sales and use tax filing. Six months later as we begin the new year, that angst has not gotten any lighter. Any federal legislative […]
2018 was a volatile year in indirect tax compliance for tax, finance and IT professionals worldwide. With an increase in globalization and tax gaps surpassing tens of billions in some countries, it’s not surprising that one of the biggest challenges governments are addressing is revenue collection. Like enterprises, governments are creating new, technology-driven processes to […]