Businesses in the beverage alcohol space can ship alcohol to consumers, but key rules and regulations apply It’s a common question to wonder if it is legal to ship alcohol. The short answer is, yes! The longer and more in-depth answer is, yes, but there are important laws to follow along the way. That’s why […]
The EU Council approved a proposed directive to amend rules governing reduced VAT rates at the ECOFIN meeting held on 7 December 2021. The new rules grant EU Member States more options and flexibility in determining the reduced VAT rates to apply to certain goods and services through amendments to the EU VAT Directive. New […]
As sales tax continues to evolve in complexity, working with the right partner becomes more important. Currently, 47 states and territories in the U.S. are imposing state or local economic nexus standards. Regardless of the size of your organization, it can be difficult to stay up-to-date on sales tax changes. That’s why partnering with a […]
In our previous blog, we completed the compliance cycle with tax authority audits. However, that’s not the end of the challenges businesses face in remaining compliant in the countries where they have VAT obligations. VAT rules and regulations change as do a business’s supply chains – these need to be carefully reviewed and appropriate action […]
Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly filing or end of year, can be stressful for insurance tax teams. Juggling regular workloads alongside the added pressure of ensuring filings are completed accurately and on time are often challenging. This blog provides some helpful guidance on how to navigate deadline season successfully. […]
In a surprise move, the Massachusetts legislature swiftly adopted a new law easing the sales and use tax compliance burden of their new “Advance Payment” requirement that was imposed on certain large taxpayers beginning last April. As initially reported in December 2020 and then again in March 2021, Massachusetts created a set of unique filing […]
The EU e-Commerce VAT Package is nearly six months old and businesses should have submitted their first Union One Stop Shop (OSS) return by the end of October 2021. Union OSS provides a welcome simplification to the requirement to be registered for VAT in multiple Member States when making intra-EU B2C supplies of goods and […]
Update: 12 January 2024 by Edit Buliczka Upcoming Submission Deadline for Polish Claims Report The Polish Financial Ombudsman Office (Rzecznik Finansowy), like other regulatory bodies such as the Italian IVASS, requires insurance companies to submit various reports about their activities. One of these is the Claims Report. According to the Act on the Consideration of […]
Since earlier this year, when the first draft continuous transaction controls (CTC) legislation was published in Poland, there’s been good progress in the development of the CTC framework and system, the Krajowy System e-Faktur (KSeF). After several reiterations, the CTC legislation was finally adopted and published on the Official Gazette on 18 November 2021. Implementing […]
Over the years, we have hosted numerous webinars and events around unclaimed property. Throughout these events, we’ve received many excellent questions from attendees. We combed through and provided some of the most frequently asked questions and their answers from our unclaimed property experts. Due Diligence If we have property where due diligence needs to be […]
On 1 May 2021, the Mexican tax administration (SAT) enacted a new requirement via the new Bill of Lading Supplement (locally known as Complemento de Carta Porte), making it mandatory for taxpayers moving goods between addresses within the country to inform and receive authorisation from the SAT. This Complemento is required whenever taxpayers move goods within Mexico via […]
In recent years, tax transparency has become a vital issue. It is becoming increasingly evident that tax authorities are adapting to online submissions for further transparency and accuracy in collecting and reporting of taxes and requesting more detailed policy information. There is very little consistency across European territories regarding reporting; differences in tax rates, submission […]
E-commerce in the EU saw a VAT revolution on 1 July 2021, introducing the e-commerce VAT package. One of the package’s aims is to ensure that VAT is accounted for in the Member State where consumption takes place for B2C cross-border supplies of goods – this equates to where the goods are delivered. There […]
Several EU Member States have been introducing continuous transaction controls (CTCs), aiming to close their VAT gaps, increase revenue and have more control over the data of their economy. However, the CTC regimes adopted by those countries are far from uniform. So far, Italy is the only country that obtained a derogation from the VAT […]
Earlier today, Sovos announced the acquisition of TLI Consulting, a German company that serves companies with transaction and tax determination needs that are too complex or costly to configure and maintain via native SAP functionality and in-house tax experts. This is a strategic acquisition with immediate and long-term implications for the customers we serve. Immediate […]
The first step in bringing a new beverage alcohol product to market, whether for sale through the three-tier system or by direct-to-consumer (DtC) shipping, is registering it with the Alcohol and Tobacco Tax Bureau (TTB). This must happen to get a Certificate of Label Approval (COLA), which ensures that suppliers and producers comply with federal […]
This blog was updated on December 1, 2023 If Black Friday and Cyber Monday 2023 are any indication, online shoppers are out in full force. TVs, smart watches and headphones had some of the highest numbers on Black Friday, according to Adobe Analytics. Overall Black Friday online numbers reached new levels, with a record-breaking $9.8 […]
In our previous blog, we looked at the challenges that businesses face in submitting VAT and other declarations on an ongoing basis. However, the compliance cycle doesn’t end there as tax authorities will carry out audits for a variety of reasons to validate declarations. Why do tax authorities carry out audits? When VAT returns consisted […]