When the South Dakota v. Wayfair, Inc. decision was made, remote businesses needed to take note of how states and territories were requiring the collection and remittance of sales tax. The District of Columbia economic nexus was also impacted, with D.C. adopting requirements in line with South Dakota’s, which were laid out in the Supreme […]
On 30 September 2020, the European Commission published its “Explanatory Notes on VAT E-Commerce Rules,” to provide practical and informal guidance on the upcoming July 2021 e-commerce regulations. This “EU VAT e-commerce package” was initially adopted (under Directive 2017/2455 and Directive 2019/1995) and set to be implemented on 1 January 2021 but has since been […]
Expanding into new states can be great for your business’ growth, but it comes with added intricacy. Because each state has the authority to regulate the production, sale, and distribution of alcohol within its borders, state reporting can get complicated for alcohol producers and retailers. Just how complicated can it get? When states determine what […]
As 2020 draws to a close, Brexit is firmly back on the radar as a concern for businesses across Europe, and the insurance industry is no exception. With the end of the transition period rapidly approaching, the UK is on course to become a third country after 31 December 2020. The UK is currently seeking […]
Even though India’s continuous transaction controls (CTC) reform went live less than a month ago, the surrounding legal and technical framework for the e-invoicing platform still has many moving pieces. However, little by little, these puzzle pieces have started to come together. Earlier this year, the Indian authorities announced their intention to facilitate the e-invoicing […]
Course Offering Spotlight In this week’s course offering spotlight, we are highlighting another one of Sovos’ regularly offered courses, Schedule P Preparation. This course teaches you how to complete schedule P of the annual statement and understand its analytic value. In our upcoming Sovos Insurance Regulatory Summit 2020, we will be offering a session on […]
This year has brought change to the Illinois sales tax nexus rules. In addition to the South Dakota v. Wayfair, Inc. decision, collection obligations changed for marketplace and remote sellers on January 1, 2020. Two new laws expanded nexus in Illinois to include marketplace facilitators, which “are required to register to collect and remit Illinois Use […]
Many states have started making changes to how they collect and remit state and local sales tax following the South Dakota v. Wayfair, Inc. decision. However, the New York economic nexus changed more quickly than others. New York made its enforcement date June 21, 2018 – the same day as the Wayfair ruling. The state […]
Portuguese authorities recently published the long awaited regulation on unique ID number (ATCUD), in preparation for the entry into force of this requirement on 1 January 2021. Even though this effectively meant that a significant piece in the puzzle had now become available to the public, the Portuguese tax authority has postponed the requirement until […]
Starting in early 2021, PayPal customers can buy, sell and trade select cryptocurrencies using their PayPal and Venmo online wallet accounts. Shoppers will also be able to use crypto to purchase goods and services using their PayPal account, according to Reuters last week. For the 26 million merchants participating in the PayPal network, expanding payment […]
Since the South Dakota v. Wayfair, Inc. decision, nearly every state has adopted sales tax economic nexus changes. However, Florida has not yet made any such changes. The Sunshine State has no remote sales tax law and does not have income tax. Some lawmakers proposed legislation that would require remote businesses with sales in Florida […]
By Tom Wark, Executive Director, National Association of Wine Retailers No one who pays attention to the ongoing political and legal battles over direct-to-consumer (DtC) wine shipping will doubt that this is a contentious area of the law. Claims concerning retailer wine shipping emerge from every corner of the regulatory landscape including the wholesale tier, […]
The South Dakota v. Wayfair, Inc. decision made waves in the sales tax nexus world, with ripples being felt in every state. The Texas sales tax nexus rules were no exception, and all businesses operating in the Lone Star State – remote organizations and those with a physical presence – must ensure they stay compliant. […]
It is essential that California businesses – both those operating remotely and that have a physical presence in the state – understand and adhere to all sales tax nexus laws, especially when and if the laws change. Failure to comply with these obligations could impact how businesses properly collect and remit taxes, leading to audits […]
The wine market is in greater flux than ever as producers, retailers and consumers navigate the impacts of a global pandemic. Keeping a pulse on marketplace data has never been so important given these shifting dynamics. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide a much more comprehensive view of the […]
If you listen carefully, you can hear the tick tock of the Brexit clock growing ever louder. As 31 December looms into view, there’s lots to consider from a VAT point of view. One area business must get up to speed with is the movement of goods between the EU and the UK post-Brexit. Whether […]
New cells in Italy’s annual IPT return Update: 8 June 2023 by Edit Buliczka On 31 March the Italian tax authority released a new Insurance Premium Tax (IPT) return form. The Italian IPT return is an annual return due by 31 May in the year following the reporting period. Related payments are due on a […]
Should we move our tax engine to the cloud or keep it on-premise? This conversation is taking place in many organizations as they assess their approach to sales tax management. In this three-part series, we’ll explore some of the problems IT is working through to maintain on-premise solutions that may not always be visible to […]