The number of continuous transaction controls (CTC) jurisdictions worldwide is increasing at a high speed. What’s equally interesting to note is a parallel development: countries that already have CTCs in place are expanding the scope of their CTC regimes by introducing new obligations around related document types, notably for transport documents. We are witnessing a […]
As interest in the direct-to-consumer (DtC) alcohol shipping market has grown, a number of third-party servicers have popped up promising to support the market. These services range from marketing platforms to online storefronts to logistical support, everything that a winery, brewery, distillery or other prospective DtC shipper will need to deal with once they’ve come […]
Every industry has its own set of unique issues relating to unclaimed property and organizations related to healthcare are no exception. Unclaimed property compliance for healthcare companies generally falls under two categories: general ledger types of unclaimed property resulting from corporate operations such as vendor payables or payroll and unclaimed property in the form of […]
Sales tax is tough, especially when it comes to compliance. Sales and use tax compliance takes time and resources, no matter the size of your business. New laws are constantly added and amended, sometimes with little warning, making compliance seem nearly impossible. To make things worse, sales and use tax audits are on the rise […]
In a blog post earlier this year, we wrote about how several Eastern European countries have started implementing continuous transaction controls (CTC) to combat tax fraud and reduce the VAT gap. However, it’s been an eventful year with many new developments in the region, so let’s take a closer look at some of the changes on the […]
The EU e-commerce VAT package was introduced in July 2021. The new schemes, One Stop Shop (OSS) and Import One Stop Shop (IOSS) bring significant changes to VAT treatment and reporting mechanisms for sales to private individuals in the EU. In the last of our series of FAQ blogs, we answer some of the more […]
Businesses in the beverage alcohol space can ship alcohol to consumers, but key rules and regulations apply It’s a common question to wonder if it is legal to ship alcohol. The short answer is, yes! The longer and more in-depth answer is, yes, but there are important laws to follow along the way. That’s why […]
The EU Council approved a proposed directive to amend rules governing reduced VAT rates at the ECOFIN meeting held on 7 December 2021. The new rules grant EU Member States more options and flexibility in determining the reduced VAT rates to apply to certain goods and services through amendments to the EU VAT Directive. New […]
As sales tax continues to evolve in complexity, working with the right partner becomes more important. Currently, 47 states and territories in the U.S. are imposing state or local economic nexus standards. Regardless of the size of your organization, it can be difficult to stay up-to-date on sales tax changes. That’s why partnering with a […]
In our previous blog, we completed the compliance cycle with tax authority audits. However, that’s not the end of the challenges businesses face in remaining compliant in the countries where they have VAT obligations. VAT rules and regulations change as do a business’s supply chains – these need to be carefully reviewed and appropriate action […]
Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly filing or end of year, can be stressful for insurance tax teams. Juggling regular workloads alongside the added pressure of ensuring filings are completed accurately and on time are often challenging. This blog provides some helpful guidance on how to navigate deadline season successfully. […]
In a surprise move, the Massachusetts legislature swiftly adopted a new law easing the sales and use tax compliance burden of their new “Advance Payment” requirement that was imposed on certain large taxpayers beginning last April. As initially reported in December 2020 and then again in March 2021, Massachusetts created a set of unique filing […]
The EU e-Commerce VAT Package is nearly six months old and businesses should have submitted their first Union One Stop Shop (OSS) return by the end of October 2021. Union OSS provides a welcome simplification to the requirement to be registered for VAT in multiple Member States when making intra-EU B2C supplies of goods and […]
Update: 12 January 2024 by Edit Buliczka Upcoming Submission Deadline for Polish Claims Report The Polish Financial Ombudsman Office (Rzecznik Finansowy), like other regulatory bodies such as the Italian IVASS, requires insurance companies to submit various reports about their activities. One of these is the Claims Report. According to the Act on the Consideration of […]
Since earlier this year, when the first draft continuous transaction controls (CTC) legislation was published in Poland, there’s been good progress in the development of the CTC framework and system, the Krajowy System e-Faktur (KSeF). After several reiterations, the CTC legislation was finally adopted and published on the Official Gazette on 18 November 2021. Implementing […]
Over the years, we have hosted numerous webinars and events around unclaimed property. Throughout these events, we’ve received many excellent questions from attendees. We combed through and provided some of the most frequently asked questions and their answers from our unclaimed property experts. Due Diligence If we have property where due diligence needs to be […]
On 1 May 2021, the Mexican tax administration (SAT) enacted a new requirement via the new Bill of Lading Supplement (locally known as Complemento de Carta Porte), making it mandatory for taxpayers moving goods between addresses within the country to inform and receive authorisation from the SAT. This Complemento is required whenever taxpayers move goods within Mexico via […]