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The Turkish Revenue Administration (TRA) published a Draft Communique that includes significant changes to the Tax Procedure Law General Communique No. 509, which initially aimed to unify all e-document regulations when it was published in October 2019. With the Draft Communique, the TRA will lower the current gross sales revenue threshold for mandatory e-fatura and […]

Update: 8 November 2024 by Inês Carvalho Romania: Mandatory B2C e-reporting from 2025 The scope of electronic invoicing in Romania has been expanded to include B2C transactions, following the enactment of Government Emergency Ordinance no. 69/2024, published on June 21st. Established taxpayers are required to electronically report their B2C invoices to the RO e-Factura platform […]

Italy first introduced its e-invoicing mandate in 2019 and in 2022 they are introducing a new continuous transaction control obligation for reporting cross-border invoice data. In this episode of the Sovos Expert Series, Harri Vivian sits down with Gabriel Pezzato, Senior Regulatory Counsel at Sovos to talk through the 2022 reporting changes coming in Italy. […]

In our previous blog, we looked at how businesses can determine their obligations when they’re registered for VAT in other countries. We will now focus on what is required to meet those obligations. Submitting VAT returns The VAT return is the most obvious declaration that has to be submitted although as we highlighted in our […]

Although Rishi Sunak did not mention Insurance Premium Tax (IPT) in his budget on 27 October 2021, one of the consequences of the UK leaving the EU is that HM Treasury (HMT) are conducting a review of the Value Added Tax (VAT) treatment of financial services in the future, and this may have implications for […]

After a tumultuous 18 months due to COVID-19, the events industry is finally bouncing back. When organising events online and in-person it is important to understand the VAT implications to avoid incurring fines and penalties down the line. Join Mathilde Dorance, Consultant at Sovos discusses the VAT implications for the events industry and the challenges […]

Direct-to-consumer (DtC) shipping compliance has many nuanced regulations that shippers must be aware of as they look to expand their business reach. But what happens when you’re trying to integrate your ecommerce approach? Is there a way to streamline your DtC wine shipping compliance when using ecommerce solutions like Shopify?  The short answer is: yes! […]

This blog was updated on November 8, 2022. Congratulations, you made it through the busy October unclaimed property reporting season. Now what? Sure, you may like to forget about unclaimed property until the next reporting season comes along but that isn’t the best practice as unclaimed property compliance is a year-round job. Perform a review […]

The old mnemonic device for remembering states without a statewide sales tax, “NOMAD” (New Hampshire, Oregon, Montana, Alaska, and Delaware) might be dropping a letter. Specifically “A”, with the introduction of HB 3006 and HB 4005 in Alaska. HB 3006 and HB 4005 each includes legislative language that would implement a statewide tax on sales […]

Electronic invoicing is rapidly becoming a standard business process. Governments are pushing for the adoption of B2G invoicing to optimize the public procurement process and also to provide a boost to the adoption of e-invoicing between businesses. Apart from countries that have introduced general e-invoicing mandates to improve fiscal controls – most of which have […]

Update: 25 June 2024 by Dilara İnal Ministry Publishes Draft Guideline on B2B E-Invoicing The German Ministry of Finance (MoF) released a draft guideline on 13 June 2024, detailing the upcoming B2B e-invoicing mandate which will roll out on 1 January 2025. Although the current law only obliges taxpayers to issue and receive e-invoices for […]

Regardless of where the event, conference or exhibition is held, there will be VAT obligations to be met. For event organisers, understanding these VAT requirements is key as failure to do so will not only impact profit margins but may also result in late payments and possible penalties. VAT on conferences and events If your […]

As our webinar explored in depth, Insurance Premium Tax (IPT) compliance is complex and constantly evolving. The Sovos compliance team covered IPT compliance in different countries across Europe and the globe and discussed topics including IPT in Germany, Italy, the UK and Brexit and beyond. Despite this deep dive, there were plenty of questions that […]

As we approach the end of the first full year following the effective departure of the United Kingdom (UK) from the European Union (EU), for many UK insurers this has seen the use of other EU-based entities within their structure to write business in the EU. These entities were often explicitly established to deal with […]

The IRS issued Proposed Regulations in September that included a reduction to the required electronic filing threshold for businesses from 250 information returns to 100 returns for the 2021 tax reporting season. Further, the new requirements change the way that a business determines how to arrive at the number of returns required to be filed […]

2021 ACA reporting will most likely be different than prior years. Last fall, the IRS issued Notice 2020-76, which provided Affordable Care Act (ACA) filers with an extension of time to furnish Forms 1095-B and 1095-C to recipients. Instead of being due by the end of January, the forms could be mailed by March 2 […]

Like other alcohol producers, sake brewers are increasingly interested in the direct-to-consumer (DtC) shipping market to better connect with their consumers. While the laws governing DtC shipping of sake are fairly straightforward, broadly following the rules for shipping other product types, it is complicated depending on how each state defines sake itself.  No state’s DtC […]

The global e-commerce market continues to transform in today’s digital world. E-commerce transactions consist of a variety of digital services and products such as software, applications, streaming media, web hosting, online advertising, e-books, online newspapers, and various others. From an indirect tax perspective, nations across the globe apply destination-based VAT and GST legislation to these […]