Blog

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 […]

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) […]

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. […]

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 […]

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 […]

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 […]

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 […]

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. […]

Digital transformation continues to evolve and develop, introducing new solutions and cloud technologies for enterprises around the world. These technologies provide flexibility, agility and reduce operational costs for the companies. Advantages of cloud-based technologies Moving to cloud-based technologies provides many advantages including quality, increased efficiency, and profitability. It’s important to work with a service provider […]

Sales tax is a necessary evil for all businesses but you don’t want to spend more time thinking about it than you have to. Implementing the right sales tax technology solution can help your business continue to grow while ensuring you meet all sales tax obligations. Choosing an efficient, reliable, always-up-to-date solution will help you […]

Florida Governor Ron DeSantis signed SB 50 into law on April 19, which makes Florida the latest state to adopt economic nexus rules to impose a sales tax liability on remote sellers, including direct-to-consumer (DtC) shippers of wine. Unlike most other states, Florida does not currently require DtC wine shippers to assume a sales tax […]

We’ve recently seen several Eastern European countries begin their journey of implementing continuous transaction controls (CTC) as an efficient tool for combating tax fraud and reducing the VAT gap. The CTC frameworks may vary in nature, scope and implementation, but they all have one thing in common: an ambition to achieve operational efficiency for businesses […]

Historically, the healthcare industry has experienced challenges in identifying and reporting unclaimed property. This is due to several reasons including a lack of clear statutory guidance, limited understanding of the potential unclaimed property liabilities which they are truly subject, and conflicting laws (i.e., refund recoupment, prompt payment, HIPAA, etc.).  The fundamental understanding that healthcare entities […]

Fluctuation in the wine market is not showing any signs of easing as producers, retailers and consumers continue to navigate the impacts of a global pandemic. It has never been so critical to keep a pulse on marketplace data given these shifting dynamics. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide […]

The Sultanate of Oman has imposed a Value Added Tax from 16 April 2021. The VAT system is scheduled to be implemented in phases, with businesses required to register for VAT at different points over the next year based on their turnover. Turnover Mandatory Registration Deadline Effective Date of Registration Greater than 1,000,000 OMR March […]

EU VAT E-commerce VAT package: the basics The European Union’s VAT e-commerce package is scheduled to come in to force 1 July 2021 to reduce admin burdens and increase efficiency. Your business needs to assess it’s current processes to determine how the changes will affect you. In this episode of the Sovos Expert Series, Andy […]

Brazil E-Invoicing: New rules on NF-e invoices  Although Brazil is known for its complex tax laws that make compliance a difficult task in the country, it is undeniable that the Continuous Transaction Control (CTC) system implemented more than a decade ago is one of the most stable in the world.   However, even a sophisticated […]

Mexico’s Miscellaneous Fiscal Resolution (MFR) for 2021 includes a number of changes, the first of which you can read about in our previous blog on the subject. In this blog we will discuss the approved specific technical modifications related to the validations Authorised Certification Providers (PACs) should make to electronic invoices sent to them for […]