Blog
All categories saw growth January to June in 2023, compared to that same time in 2022 The first half of 2023 has come and gone, with new product registrations showing positive growth across categories. Spirits new product registrations increased 20% from January to June 2023, followed by wine (+10%) and beer/malt (+1%). Overall, Product Registration […]
The direct-to-consumer (DtC) wine shipping channel has seen a continuation of movement tracked in the January release of our Direct-to-Consumer Wine Shipping Report, with dips once again occurring in overall volume and value. Note: The proprietary data featured in this mid-year report is compiled from an algorithm measuring total DtC shipments based on millions of […]
Small wineries breaking in to the direct-to-consumer (DtC) wine business sometimes choose to partner with third-party services that make big promises about handling compliance and licensing needs. Of course, there are numerous partners that can provide excellent help with managing these needs. But caution is in order when a third-party service makes sweeping claims, for […]
In an interesting development, New York has requested that companies hold off on reporting unclaimed virtual currency this year. This news comes in the wake of a newly enacted law requiring holders to report and remit unclaimed virtual currency owned by New York residents. Virtual currency is the latest property type to become a target of […]
Update: 12 September 2025 by Kelly Muniz Expansion of E-invoicing Scope Malaysia has expanded the scope of its mandatory e-invoicing requirements to include additional types of activities/transactions, according to the latest E-Invoice Specific Guideline (Version 4.4) released on 12 September 2025 by the Inland Revenue Board of Malaysia (IRBM). Key Updates Effective 1 January 2026, two additional […]
Some promising direct-to-consumer (DtC) happenings have occurred in both Alabama and Delaware in the last few weeks. The DtC application process in Alabama has been made easier, with less information required. And there’s a clear sign that Delaware might open up to allow DtC wine shipping. We share the details below. DtC license application developments […]
It’s that time of year when we all begin focusing on fall unclaimed property (UP) filings. For anyone who has experience with UP filings, you have all had to cope with change during a filing season. The catalyst to change can appear in many forms, such as statutory changes to dormancy or filing dates, a […]
Among those who, for whatever reasons, oppose direct-to-consumer (DtC) shipping of alcohol, one argument that keeps coming up is that consumers should not be able to have alcohol shipped to their homes because of the risk of counterfeits. That is, there is apparently a belief that if an alcohol product is sold without the involvement […]
The Portuguese government has been working on introducing mandatory B2G (Business-to-Government) electronic invoicing in recent years, alongside other obligations for the digitization of VAT compliance in the country. This aligns with the European Union’s efforts towards harmonising the adoption of e-invoicing in public procurement. To achieve this goal, the EU has implemented Directive 2014/55/EU to outline […]
Where can you go to receive best-in-class education on insurance accounting and theory, network with your insurance professional peers, earn CPE credits and stay ahead of industry change? The Sovos 2023 Insurance Regulatory Summit is that opportunity. This is an annual, exclusive event providing the insurance industry with premier educational sessions from regulatory product experts and […]
As part of our ongoing effort to return to the in-person model of providing continuing education, the instructors at Sovos Booke are on the move yet again this year. Your next chance to join us is coming up in September so read on to see how we expect the week to play out. Westward ho! […]
In the world of unclaimed property, there tend to be more questions than answers with certain property types and what should be considered reportable to the states. High on that list are rebates, refunds and incentives. While efforts have been made to help clear the fog, questions still abound as companies seek to improve customer […]
A Q&A with Arun Kurichety, COO & General Counsel, Petalfast In an effort to better understand potential cannabis concerns in the beverage alcohol industry, I sat down with Petalfast’s Arun Kurichety. Further expanding on Arun’s keynote address at the 2023 Sovos ShipCompliant Wine Summit, we discussed trends in the cannabis industry and what alcohol producers should know. […]
Unclaimed property is ripe for potential fraud due to the nature of the property – after all, it is either lost or abandoned and nobody will know that it is missing. Unclaimed property fraud can occur at both the holder and state levels. It can be perpetrated internally by employees or externally by people posing as […]
Over the last few years, one of the leading issues affecting the direct-to-consumer (DtC) wine shipping market has been the ongoing effort by states to regulate third-party shipping services, specifically fulfillment houses. At various times, it has seemed as though a deluge of new rules and restrictions around using fulfillment houses was about to sweep […]
The Electronic Invoicing Law of the Dominican Republic was published on 17 May 2023, mandating e-invoicing throughout the territory as of 18 May 2023. The law was published in the Official Gazette, whose purpose is to regulate the mandatory use of electronic invoicing in the Dominican Republic, including the establishment of the electronic invoicing tax […]
Implementing certified add-ons in SAP S/4HANA on-premise or a private cloud environment will allow you to expand the capabilities of your system. However, it is necessary to maintain a pristine core by strictly adhering to the most effective procedures. This blog details the most important steps companies should take to design an add-on with a […]
The Spanish government has published the much-anticipated draft regulation with the framework for implementing mandatory B2B e-invoicing. The proposed legislation outlines the operation of the Spanish e-invoicing system. Its main feature is the reliance on the principles of interoperability of e-invoice formats and interconnectivity of e-invoicing platforms. The goal is to promote digitalization (particularly for […]