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It can be difficult to know where you stand regarding EU VAT changes and European tax laws. There have been sweeping changes implemented in recent years. This blog breaks down the major updates, including the EU VAT reform, to help ensure your business is on the right path. Additionally, you can speak with our team […]

All European countries charge VAT on goods and services. VAT is a consumption tax added during each production stage of goods or services. Although VAT is near-universal according to the EU VAT Directive, VAT rates within the EU do differ. This is because the EU VAT Directive allows Member States to choose whether to implement […]

The EU VAT E-Commerce package has been in place since 1 July 2021. This applies to intra-EU B2C supplies of goods and imports of low value goods. Three schemes make up the package. These are based on the value of goods and the location of the sale of goods. All OSS schemes are currently optional. […]

Nearly every major economy has a form of VAT. That’s 165 countries, each with its own compliance and reporting rules. The main exception is the United States. VAT is by far the most significant indirect tax for nearly all the world’s countries. Globally VAT contributes more than 30% of all government revenue. Levying VAT is […]

The European Commission’s VAT in the Digital Age initiative brings significant modifications to the VAT treatment of the platform economy related to the operators in the short-term accommodation and passenger transport services. Short-term is defined as a maximum of 30 days – however, to adapt to different national specificities of the sector, EU Member States should have […]

The European Commission has announced its long-awaited proposal for legislative changes in relation to the VAT in the Digital Age (ViDA) initiative. This is one of the most important developments in the history of European VAT, and affects not only European businesses, but also non-EU companies whose businesses trade with the EU. This guide about VAT […]

Little by little, we are witnessing how countries in Africa are starting to follow e-invoicing and continuous transaction control trends implemented by many other countries around the globe. Each country in the continent is developing their own variation of a tax digitisation system. Currently there is no compliance standardization, with requirements differing in each jurisdiction […]

It might not quite be THAT red phone that’s ringing, but rest assured, management is currently dealing with a serious problem, and they are looking at IT to solve it for them. There are two things that make Boards and C-Suites nervous beyond all else. Risks that have the potential to impact the bottom line […]

Invoicing in Chile is changing on 1 December 2022. This is when resolution 66 from the Chile Internal Revenue Service comes into force. This new regulation concerns organisations with foreign currency operations. Banks, stockbrokers, exchange houses and financial institutions are affected. Other intermediaries or entities that carry out foreign currency purchase and sale operations themselves […]

A recent preliminary ruling request to the European Court of Justice, Case C-664/21, NEC PLUS ULTRA COSMETICS, has re-emphasised the importance of collecting documentation when carrying out a zero-rated supply in the EU. The 2017 NEC PLUS ULTRA COSMETICS case involved a company established in Switzerland selling cosmetics products under the Ex Works clause from […]

Imagine this scenario. Your business partner changes the rules on you mid-stream and your ability to conduct business with them is now contingent on changing your entire reporting structure to meet their new demands. Oh yeah, I should also mention the time frame to meet these demands is extremely tight and if you don’t, you […]

France is implementing a decentralised continuous transaction control (CTC) system where domestic B2B e-invoicing constitutes the foundation of the system, adding e-reporting requirements for data relating to B2C and cross-border B2B transactions (sales and purchases). Under this upcoming regime, data or invoices can be directly sent to the Invoicing Public Portal ‘PPF’ (Portail Public de […]

Part IV of V – Ryan Ostilly, vice president of product and GTM strategy EMEA & APAC, Sovos Click here to read part III of the series.   Government-mandated e-invoicing laws are making their way across nearly every region of the globe, bringing more stringent mandates and expectations on businesses. Inserted into every aspect of your […]

Part V of V – Christiaan Van Der Valk, vice president, strategy and regulatory, Sovos  Click here to read part IV of the series.   Government-mandated e-invoicing laws are making their way across nearly every region of the globe, bringing more stringent mandates and expectations on businesses. Inserted into every aspect of your operation, governments are […]

Part III of V – Eric Lefebvre, chief technology officer, Sovos  Click here to read part II of the series. Government-mandated e-invoicing laws are making their way across nearly every region of the globe, bringing more stringent mandates and expectations on businesses. Inserted into every aspect of your operation, governments are now an omni-present influence […]

Part II of V – Oscar Caicedo, Vice president of product management for VAT Americas, Sovos Click here to read part I of the series.  Government-mandated e-invoicing laws are making their way across nearly every region of the globe, bringing more stringent mandates and expectations on businesses. Inserted into every aspect of your operation, governments […]

Part I of V – Steve Sprague, chief commercial officer, Sovos  Government-mandated e-invoicing laws are making their way across nearly every region of the globe, bringing more stringent mandates and expectations on businesses. Inserted into every aspect of your operation, governments are now an omni-present influence in your data stack reviewing every transaction in real […]

In recent months, we’ve been helping clients with VAT rate changes within and beyond the EU. The reason for these VAT rate changes ranges from a desire to reduce inflation, action to help support families with the cost of living, helping businesses deal with rising costs and as in the Swiss case, reforming the state […]