Some European tax authorities require annual insurance premium tax (IPT) reports to be submitted for the calendar year in addition to regular monthly or quarterly reporting. Annual reports usually require significant detail, making the process time consuming and labour intensive for insurers. Annual reporting requirements vary from country to country, making it complex for cross-border […]
When it comes to direct-to-consumer (DtC)-shipped alcohol boxes, there are requirements from all destination states to label all such boxes to announce that they contain alcohol and must be signed for by someone 21+. This has been the case for DtC wine shipments, and is also true for DtC beer shipments and DtC spirit shipments. […]
Wine direct-to-consumer (DtC) shipments continue to shift as the marketplace works to regain stability after a difficult economic year. Staying mindful of marketplace data will ensure the industry can properly adjust to any ebbs and flows, helping wine producers, retailers and consumers alike. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide […]
Six months after Brexit there’s still plenty of confusion. Our VAT Managed Services and Consultancy teams continue to get lots of questions. So here are answers to some of the more common VAT compliance concerns post-Brexit. How does postponed VAT accounting work? Since Brexit, the UK has changed the way import VAT is accounted for. […]
Wineries that use FedEx or UPS to print shipping labels for beverage alcohol packages can integrate with ShipCompliant to streamline the fulfillment process. This means: No more typing addresses to print labels One click can pull all shipment information from ShipCompliant into FedEx or UPS – your labels are ready to print Tracking numbers sync […]
In Poland, the Ministry of Finance proposed several changes to the country’s mandatory JPK_V7M/V7K reports. These will take effect on 1 July 2021. The amendments offer administrative relief to taxpayers in some areas but create potential new hurdles elsewhere. Poland JPK_V7M and V7K Reports The JPK_V7M/V7K reports – Poland’s attempt to merge the summary reporting […]
The demand among retailers and consumers for interstate direct-to-consumer (DtC) wine shipping is growing, further bolstered in the wake of the COVID-19 pandemic. Retailer DtC shipping is allowed in just 12 states and the District of Columbia, but retailers still saw significant increases in online orders and DtC shipping in the past year. But what […]
As detailed within our annual report VAT Trends: Toward Continuous Transaction Controls, there’s an increasing shift toward destination taxability which applies to certain cross-border trades. In the old world of paper-based trade and commerce, the enforcement of tax borders, between or within countries, was mostly a matter of physical customs controls. To ease trade and […]
Update: 25 October 2023 by Maria del Carmen Mexico releases Carta Porte Version 3.0 On 25 September 2023, the Tax Authority in Mexico (SAT) published Version 3.0 of the Carta Porte Supplement on its portal with some adjustments. The use of Version 2.0 of the Carta Porte became mandatory as of 1 January 2022 in […]
The Alaska Department of Revenue is sending out notices alerting holders of their obligations to file unclaimed property reports to the state in accordance with Alaska’s Uniform Unclaimed Property Act. These communications are targeted to those that filed unclaimed property reports and remitted property to Alaska in 2019 but did not in 2020. Due to […]
Having a cloud-based sales tax solution can be greatly beneficial for businesses that are working to stay compliant in an ever-evolving industry. While user-centric solutions that operate on the most up-to-date regulatory requirements are key, organizations cannot ignore the indirect tax burden that can impact IT departments. Moving to SAP S/4HANA will help IT teams […]
Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to know about new regulatory changes, ensuring you stay compliant. We spoke to Christina Wilcox, […]
The General Authority of Zakat and Tax’s (GAZT) previously published draft rules on ‘Controls, Requirements, Technical Specifications and Procedural Rules for Implementing the Provisions of the E-Invoicing Regulation’ aimed to define technical and procedural requirements and controls for the upcoming e-invoicing mandate. GAZT recently finalized and published the draft e-invoicing rules in Saudi Arabia. Meanwhile, […]
The securities industry continues to be an area of focus from an unclaimed property standpoint. Individual issuers and transfer agents are being targeted for audits. The auditors are using traditional techniques to confirm that holders are in compliance with unclaimed property laws but they are also using nontraditional techniques to identify audit populations and shifting […]
On May 18, 2021, congressional bi-partisan co-sponsors introduced the USPS Shipping Equity Act, a bill that would allow the Postal Service to ship beverage alcohol directly to consumers over the age of 21. If passed, the bill would lift a Prohibition-era ban that currently prevents the USPS from shipping wine and other alcohol directly to […]
It’s been more than a few years since Romania first toyed with the idea of introducing a SAF-T obligation to combat its ever-growing VAT gap. Year after year, businesses wondered what the status of this new tax mandate was, with the ANAF continuously promising to give details soon. Well, the time is now. What is […]
The Turkish Revenue Administration (TRA) has published updated guidelines on the cancellation and objection of e-fatura and e-arsiv invoice. Two different guidelines are updated: guidelines on the notification of cancellation and objection of e-fatura and guidelines on the notification of cancellation and objection of e-arsiv. The updated guidelines inform taxable persons about the new procedures […]
Kansas Governor Laura Kelly signed HB 2137 into law on May 19, 2021, establishing new regulations affecting the direct-to-consumer (DtC) wine shipments in the state. These regulations became effective immediately. What is included in HB 2137? HB 2137 includes provisions that now require both in-state and out-of-state fulfillment houses to register and received a Fulfillment […]