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Under the present place of supply rules, companies in the European Union (EU) selling electronically supplied services to non-business consumers (B2C) in another EU country must collect the Value Added Tax (VAT) of the country where the supplier is established. However, the “present rules” will only be the “present rules” for a few more weeks. […]

Spend Matters welcomes a guest post from Steve Sprague of Sovos. The Mexico electronic accounting mandates are poised to cause a fire drill that will sweep across the Fortune 2000 this month. This will worsen as we approach yearend book closing, SAP is frozen for reporting and Latin America goes on Christmas break. Required to be live […]

Nov. 1 was a noteworthy day for much of Latin America, celebrated chiefly in Mexico but many other cultures. The rituals, celebrants take part in, trace back thousands of years, all of which pay tribute to the lives of the dearly departed. But in the Latin American business world, specifically in Chile, Nov. 1 was a […]

The Treasury Inspector General for Tax Administration (TIGTA) has released a report saying the IRS needs to develop a plan for increasing the rate of business electronic filing. Although business e-filing rates went up during the 2014 tax season and have done so over time, as indicated by an October IRS report, TIGTA said the pace isn’t […]

Evidenced by its growing population and hosting of the World Cup, Brazil is fast becoming a major hub for economic activity. Mexico is receiving investment to further manufacturing, and Chile and Colombia continue to outperform their growth objectives. As a result, more companies that conduct international business transactions are considering this marketplace to either set […]

IRS Commissioner John Koskinen has once again stated the 2015 tax filing season could be delayed. This time he cited certain provisions of the Affordable Care Act (ACA) as the cause in addition to Congress’ continued inactivity regarding tax extenders, according to AccountingWeb. The commissioner made his statement at the 2014 Fall Meeting of the Council […]

Authors: Katherine Audet and Edward Duhamel It is well known that in many states, food products bought for home consumption are either exempt from sales tax or are subject to a reduced rate of sales tax. But did you know that certain beverages, such as soft drinks, are not considered “food” by all states? Soft […]

As you may know, Brazil recently held its presidential election, with Dilma Rousseff winning another term in office after edging out a victory over challenger Aecio Neves. With 99 percent of precincts reporting, Rous seff got a plurality of the vote at 51.5 percent to her challenger’s 48.4 percent.

Look no further than Colombia as the latest sign that Latin America’s economy is growing.   According to the National Statistics Institute, during the second quarter, Colombia’s economy grew by nearly 4.5 percent when compared with the same three-month period in 2013, the Wall Street Journal noted. This was roughly in line with what economists […]

The IRS Information Reporting Program Advisory Committee (IRPAC) recently published its 2014 Public Report. In it, the committee detailed various recommendations it has for the IRS to improve tax information reporting. IRPAC was created in 1991. It serves as a public forum for discussing reporting issues, and each year, the committee submits a report to […]

A recent report by CFO, the 2014 CFO State Tax Survey, examined how 78 tax directors responded to state tax compliance changes implemented in 2013. These directors were asked to rank states based on various tax-related issues. The report noted certain states are increasing their tax collection efforts for out-of-state corporations. “One way of doing so […]

IRS Commissioner John Koskinen recently wrote a letter to U.S. Senate Finance Committee Chairman Ron Wyden detailing his concerns that the 2015 tax filing season will be delayed if Congress doesn’t take action on extenders. These are tax provisions that expired at the end of 2013, and the commissioner said Congress needs to decide whether to extend […]

Sales and Use Tax Nexus – A Continually Moving Target One of the most interesting (some would say frightening) developments in the sales tax world over the last several years has been the concerted efforts by several states to expand the scope of activities that would compel an organization to collect and remit tax their […]

When it comes to having a favorable business environment, few would associate more regulations as being the answer. Increasingly complicated compliance issues often create more red tape, which makes it that much harder to accomplish things in the most cost efficient way possible. \ With this in mind, business owners who operate in Latin America […]

Taxware Product Management is very pleased to announce the release of the Oracle R12 Adapter v8.4.0! This release, relevant for Oracle E-Business Suite R 12 users, will not only provide Oracle EBS integration for Taxware clients, but also offer the functionality and recommended best practices for optimal performance.  This adapter is a part of Taxware’s larger initiative to provide […]

It’s been a year of heightened regulatory scrutiny for Latin American business owners, as laws are now on the books that require entrepreneurs to establish an electronic invoicing system in many countries. Thus far, it’s turning out to be a program that’s paying off for governments, most notably in Mexico.

Puerto Rico Revises the Title of the Forms to Report and Declare the Sales and Use Tax on Imports Yesterday, October 8, 2014, the Treasury Department of Puerto Rico (the Hacienda) issued Tax Policy Informative Bulletin 14-02, wherein the Hacienda provided that in order to avoid confusion among merchants and importers at the time they […]

Cloud Computing: Part 4 – Cloudy With a Chance of Sales Tax – An Overview of State Tax Schemes Being Applied to Cloud Based Transactions This is the fourth and final part of our blog series addressing issues related to the taxation of cloud based transactions. Previously, we addressed what the cloud is, why businesses should concern […]