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A trend of the last few years has been the surge in new products entering the beverage alcohol market, from hard seltzers to RTD cocktails, along with the entry of well-established, traditionally non-alcoholic brands, like Hard Mountain Dew and Simply Spiked. While the growth of hard soft drinks is great for consumers, who benefit from […]

Changes announced: Click here for the most up to date Form 1042 information. We’ve previously discussed how the IRS released final electronic filing requirements for information returns effective with 2023 returns. One of those key changes is that businesses can no longer submit Form 1042 withholding tax returns on paper starting with tax year 2023 […]

Updated: 9 April 2024 Intrastat thresholds are value thresholds which decide if companies in an EU Member State qualify to file a return to tax authorities, based on their intra-community trading. These thresholds change annually, prompting businesses to conduct an annual recalculation to know their obligations. This blog contains all the Intrastat reporting thresholds for […]

Intrastat is an obligation created in 1993 that applies to certain businesses that trade internationally in the European Union. Specifically, it relates to the movement of goods – arrivals and dispatches – across EU Member States. The requirements of Intrastat remain similar across the EU, though certain Member States have implemented rules differently. As a […]

There may only be two certainties in life, but consumer preferences are still undoubtedly going to evolve over time. This is definitely true in the direct-to-consumer (DtC) wine industry. Whether consumers are pushing for greater sustainability, increased transparency through a brand’s marketing or want something else entirely, wineries must work to incorporate that into their […]

In addition to selling automated solutions, software-as-a-service (SaaS) companies often provide a variety of related services, including configuration, implementation, training, testing, bug fixes, technical support, and software enhancements.  Each of these services could have sales tax consequences different from those applicable to the underlying software. Even more challenging, the rules can sometimes vary based on […]

The U.S. software industry is no stranger to evolving technology. But what about sales tax compliance? Can this segment keep pace with ever-changing regulations, while still meeting customer needs? Sovos and SG Analytics conducted a survey to better understand how software organizations are planning to improve sales tax management. Overall, 43% of respondents said they […]

While the wave of litigation to remove legal barriers to retailer direct-to-consumer (DtC) keeps crashing against the breakwaters of district courts, a recent ripple in the courts may signal a potential shift in rules around self-distribution, which could have deep effects on the industry in the years to come. First, the Oregon Liquor and Cannabis […]

Organizations that access IRS systems to file information returns, including Form 1099, Affordable Care Act returns and more, need to understand how technological updates could impact their filing processes. As part of its multi-year business systems modernization plan, the IRS has implemented new systems and processes that must be followed for accessing their systems for […]

In today’s complicated world of tax compliance, it can be nearly impossible for teams to keep up with their 1099 and unclaimed property reporting obligations. From ensuring tax identity management for 1099 recipients to executing on the due diligence requirements needed to report unclaimed property, the time your accounts payable (AP) teams spend on compliance […]

Online wine marketplaces are a way for consumers to purchase many of their favorite brands with a few clicks, and often enjoy discounted or included shipping to boot. But state regulators are starting to take note of their shipping practices. States like Ohio are arguing that these web shops are not only depriving the state […]

The District Court for Arizona recently ruled against a Florida retail shop in the latest in an ongoing series of lawsuits that seek to address the right of alcohol retailers to engage in interstate direct-to-consumer (DtC) shipping. The Florida retailer in this case, which was joined by two Arizona wine collectors, argued against an Arizona […]

Do you work on your company’s statutory annual statement? If so, a committee of the National Association of Insurance Commissions (NAIC) you should track is the Blanks Working Group (BWG). One of the primary responsibilities of the BWG is to adopt improvements and revisions to the various statutory annual and quarterly statements. Yes, the BWG […]

Sovos’ recent observations of audits by EU Tax Authorities are that Tax Officers are paying more attention to the contents of One Stop Shop (OSS) VAT Returns. They have challenged, and even excluded, companies from this optional scheme. OSS VAT returns must contain details of supplies made to customers in each Member State of consumption […]

The EU’s VAT in the Digital Age (ViDA) Package contains a wide range of proposals with far-reaching impacts. One of the areas impacted by these proposals is the VAT treatment of call-off stock. What is call-off stock? Call-Off stock is used to describe an arrangement where a seller ships goods to a customer’s warehouse (stock) […]

The Chilean Internal Revenue Service (SII) recently published version 4.00 of the document describing the format of electronic tickets for Sales and Services. The electronic ticket (or Boleta Electrónica) is an electronic receipt issued for the sale of goods or services to individuals, consumers or end users. The document includes basic information about the transaction, […]

The European Commission, as part of its VAT in the Digital Age project (ViDA), is proposing to modify reverse charge rules for non-established suppliers. These rules are currently optional for Member States, which has resulted in patchwork application across the EU. The modifications are intended to harmonize these rules across member states. Although the intent […]

Back in 1959, Barbie took her first plastic steps to become the cultural icon that she is today. Living in that Barbie world meant driving to your local toy store and physically purchasing the doll and accessories. Physical products like this were and still are subject to sales tax, meaning the consumer pays tax at […]