Blog

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 […]

Some of you may have already completed your first round of the submission for the group capital calculation (GCC) process. More than 20 states required a submission at the end of 2022, due to their lead state approving the regulation. Of the states that did approve, there were varying due dates for submission – some […]

Preparing your business for direct-to-consumer (DtC) wine shipping is no small feat. Between licensure, compliance concerns, tax accuracy and regulated reporting, overwhelm may seem inevitable. With the right partner by your side, you can focus on the delivery details that matter most to your customers. But there’s one delivery element that no one can control: […]

According to the latest global market report, Billentis, the Asia Pacific region is expected to achieve the highest annual e-invoice volume growth rates compared to Latin America and Europe until 2025. This is mainly because the Asian market, outside of South Korea, is new to the tax digitization journey and is accelerating the adoption of e-invoicing as […]

We’ve previously discussed key things to keep in mind if your business receives a sales tax notice, but what could potentially cause your organization to receive one? Knowing the common causes for a sales tax notice won’t guarantee that your business will never receive one. However, being able to prepare for receiving one can help […]

Outsourcing your 1099 reporting can be a big change for your business and there are many aspects to consider before choosing a partner to aid in the process. Staying compliant is the only way to avoid penalties from the IRS and state governments. Before you choose a partner in your reporting process, be sure to […]

In a recent Commerce7 and Sovos ShipCompliant webinar, experts from each team shared the latest statistics and trends in direct-to-consumer (DtC) wine and offered tips on how to leverage them to grow your business. Here are the main takeaways from presenters Zach Kamphuis and Karen Urquhart of Commerce7 and Sovos ShipCompliant’s Alex Koral. DtC wine […]