Sovos recently hosted a webinar with Joe Hillstead, a tax and advisory partner with Squire & Company (Squire). Squire works with Sovos to support the sales tax needs of its clients. In the webinar, Hillstead and Charles Maniace, VP, Regulatory Analysis and Design, Sovos, discussed issues such as: knowing when to partner with a Certified […]
We recently shared news of the European Commission (EC) opening a feedback period concerning an initiative to review VAT rules for financial and insurance services. The feedback period has now ended, and a public consultation period is set for the first quarter of 2021. The consultation will gather stakeholders’ views on the current VAT treatment […]
Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly IPT filings or end of year, can be stressful for insurance tax teams juggling regular workloads alongside the added pressure of ensuring filing is completed accurately and on time. To help, we wanted to offer some guidance on how to navigate deadline season successfully. […]
We recently launched the 12th Edition of our Annual Trends Report. We put a spotlight on current and near-term legal requirements across regions and VAT compliance domains. The report, “VAT Trends: Toward Continuous Transaction Controls” is authored by a team of international tax compliance experts and provides a comprehensive look at the regulatory landscape as […]
On December 22, Congress passed a new COVID relief measure, providing necessary relief and aid to the still reeling economy. Included in the bill was the permanent extension of the Craft Beverage Modernization and Tax Reform Act (CBMTRA). This is extremely welcome to the beverage alcohol industry, as suppliers would have faced a huge hike […]
The European Union’s VAT E-Commerce Package has been delayed until 1 July 2021. Consequently, in the New Year businesses will have to contend with both Brexit related VAT changes and the impact of the One Stop Shop – amounting to two new set of rules for VAT reporting in 2021. Treatment of B2C goods and […]
The wine market is in greater flux than ever as producers, retailers and consumers navigate the impacts of a global pandemic. Keeping a pulse on marketplace data has never been so important given these shifting dynamics. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide a much more comprehensive view of the […]
Since the Covid-19 outbreak, the insurance industry has been put under the spotlight in France, sometimes being the scapegoat for failing to compensate its insureds. Exceptional tax, insurance premiums frozen, contribution to Solidarity Funds and schemes are all examples of the measures taken. In this blog we detail the different steps taken by local authorities […]
To help businesses understand the impact of Brexit, we’ve cover the essential considerations for supply chain planning in this blog. Goods and services in 2021 The treatment of goods moving between Great Britain and the EU will change significantly from 1 January 2021. Exports and imports will apply to GB-EU trade, replacing the concept of […]
Are you ready to submit and file a compliant sales tax return? Think you already know everything there is to know about the process? Whether you are a veteran to sales tax filings or are looking to file for your business for the first time, it never hurts to double check that everything is in […]
The Polish Ministry of Finance announced a timeline for its plans to introduce a Continuous Transaction Controls (CTC) scheme, with a roll-out to start in a year’s time from now. Earlier this year, ministry officials described their intention to introduce an Italian-style clearance e-invoicing system, however since then, not much has been announced in terms […]
Today we will be concluding our preview of the upcoming release of the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report. Hear from Christiaan Van der Valk as he jumps back in: 1. In your opinion, when is the right time for businesses considering major platform upgrades to involve tax? What […]
Today we will be previewing the upcoming release of the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report. In this episode of the Sovos Expert Series, Harriet Vivian sits down with Sovos’ VP of Strategy, Christiaan Van Der Valk as he digs into what the Trends Report will look like this […]
This blog was updated on January 11, 2023. Unclaimed property compliance for energy, oil and gas companies can be an especially complex process due to various industry-specific nuances and intricacies. Exclusive property types, such as net revenue interest and royalty payments, title disputes, and operationally intensive state requirements all contribute to the uniqueness of the […]
Taxpayers have gone through an eventful year in India. The e-invoicing mandate, initially planned to go live in April 2020, was delayed until October. A couple of months before the October roll-out, the scope of the mandate was reduced by lowering the threshold which left taxpayers below 500 Cr rupees outside of the first go-live […]
Annual reconciliations can be a critical aspect for businesses as they work to achieve tax compliance. They are used to resolve all payments made to the state through the year and make any necessary corrections. For example, a company may have already filed its tax returns, but discovers there is a backdated transaction for one […]
In April, 2020, Kentucky passed HB 415, which established new rules permitting the direct-to-consumer (DtC) shipping of alcoholic beverages. Early on December 14, 2020, the Kentucky legislature’s joint committee on Licensing, Occupations, and Administration Regulations voted to approve new regulations enforcing HB 415 making those laws effective and finally allowing DtC shipping to begin in […]
Black Friday and Cyber Monday 2020 were record-breaking shopping days, further showing that e-commerce is not “a phase” and will likely continue to be a central aspect to daily operations for businesses. Black Friday online sales increased by nearly 22% to $9 billion, while Cyber Monday sales increased nearly 15% from 2019 – $10.8 billion […]