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Sovos recently participated in a roundtable discussion facilitated by the IRS regarding digital asset reporting requirements. This session provided valuable insights into the upcoming 2025 reporting landscape and clarified several critical points for digital asset businesses preparing for compliance.  IRS Position on 2025 Digital Asset Reporting Timeline Based on recent industry roundtable discussions with IRS […]

As some countries either introduce or consider introducing mandatory natural catastrophe insurance (e.g., Italy this year), France is ahead of the curve. This is because France already has a specific compensation scheme in place for coverage of property against natural disasters, and has had one since 1982. The importance of the scheme is clear, as […]

In this edition, the focus was on the impacts of tax reform on technology and on how companies can adapt. | Read more here.

There are many challenges of the Tax Reform for companies and they will have to adapt to a specific implementation schedule.

Several changes are expected in Brazil in the long term as a result of the tax reform. This represents a transformation.

Hungary’s tax penalty consequences of non-compliance with tax requirements are governed by the Act on Rules of Taxation. The law outlines a range of sanctions for non-compliance, including tax penalties, default penalties, late payment interest and self-revision fees. This blog will provide an overview of each sanction and summarize recent changes in this area. Types […]

VAT in the Digital Age (ViDA) aims to modernize and simplify the European VAT system. ViDA was officially adopted by the EU on 11 March 2025. The package took 27 months to be approved and adopted, with the initiative initially being proposed by the European Commission in 2022. The path to adoption included many versions […]

From groceries to clothing, consumers expect convenience—and that includes how they purchase alcohol. While direct-to-consumer (DtC) shipping is widely available for wine, beer lags far behind, with legal shipping allowed in only 11 states and Washington, D.C. On National Beer Day, there’s no better time to highlight why beer trails behind in DtC access and […]

As governments worldwide continue to shift to Continuous Transaction Controls (CTC) systems, such as e-invoicing and real-time e-reporting, another trend organically unfolds as part of this move towards tax digitisation: pre-filled returns. With access to real-time transactional level data – and other types of data, such as payroll, inventory and other accounting data transmitted at […]

Believe it or not, there’s more to life than beer. There’s wine, spirits, cider, kombucha, hard seltzers—even non-alcoholic products. But just because a brewery has mastered beer does not mean it’s ready to begin making and selling other types of alcoholic beverages. When a brewery moves to expand its offerings and enter new markets, new […]

Important changes in Costa Rica’s electronic receipt regulations have been introduced by the tax authority through the new mandate 44739-H. This new regulation, published on November 8, aims to modernize processes and ensure accuracy in electronic transactions across the country by introducing significant changes in the management of electronic receipts for tax purposes.  Main Changes […]

In a previous blog, we provided an overview of the current and proposed natural disaster-related measurements in some European countries and Australia. In this blog, we will focus on the possible EU-level solution proposed by the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) in their latest discussion paper, issued […]

Craft beer drinkers want more choices. Brewers want more opportunities. And yet, legal barriers still stand in the way of direct-to-consumer (DtC) beer shipping. The 2025 Direct-to-Consumer Beer Shipping Report, produced by Sovos ShipCompliant in partnership with the Brewers Association, reveals how consumer demand, regulatory restrictions and potential revenue opportunities continue to shape the DtC […]

What is the tax reform schedule for companies and the requirements they must comply with at each stage?

The 2025 Direct-to-Consumer Wine Shipping Report offers more than just data—it provides valuable insights into the trends shaping the industry and the factors driving change. To delve deeper into these findings, industry experts Andrew Adams from WineBusiness Analytics and Alex Koral from Sovos ShipCompliant joined forces in a recent webinar, unpacking the key takeaways. Their […]

In a shockingly quick turn of events, the Mississippi governor has signed a bill that will enable the direct-to-consumer (DtC) shipping of wine, making it the 48th state to grant its residents greater access to the national wine market.   The bill, SB 2145, is set to take effect on July 1, 2025, which should mean […]

In the fall of 2024, New York became the latest state to open its doors to direct-to-consumer (DtC) spirits shipping, marking a significant milestone for the industry. As one of the most populous states with a thriving market for craft and high-end spirits, the shift was expected to create substantial new opportunities for distilleries nationwide. […]

Mark your calendars – April 11, 2025 and August 15, 2025 are this year’s anticipated release dates for the Delaware’s Secretary of State (SOS) VDA program invitations. In the event that an organization receives an invitation to participate in the Voluntary Disclosure Agreement (VDA) program  , companies must seriously consider what it means and act […]