The economic impact and consequences of coronavirus are unprecedented as it spreads across different countries. To protect their markets, many countries have reacted by loosening obligations and lowering rates. While most of these initiatives have an immediate impact on a business’s cashflow and are welcome they also, in many cases, have a long-term impact on […]
Tax compliance has always been a balancing act – directing available energy and resources on those activities and solutions that will do the most to keep your company safe from audit risk. While the challenges may differ (as resources may be less available to some businesses during the COVID-19 pandemic) the obligation of tax professionals […]
If you are looking to boost sales and highlight direct-to-consumer wine shipping, email marketing can be a great way to do so—perhaps now more than ever in this time of social distancing, when communicating through technology has never been more relevant. Email marketing in particular can be a significant part of how your winery stays […]
Overcoming the challenges of social distancing is proving difficult for many industries during the time of COVID-19. The inability to interact face-to-face with customers is hampering sales efforts for most. However, some of our clients are getting creative in finding ways to stay connected with their target audiences. At a time when wineries can’t rely […]
The annual Direct-to-Consumer Wine Shipping Report is full of data that can help you make strategic operational and marketing decisions for your business. Out of the dense 36-page report, Alex Koral, Senior Regulatory Counsel, Sovos ShipCompliant, and Andrew Adams, Editor, Wine Analytics Report, a part of Wines Vines Analytics unpack 11 key statistics and offer […]
It seems as if, in a few short weeks, the entire world has been turned upside down. In response to the coronavirus crisis, society has adopted emergency measures to stem the tide of the virus, with companies shifting to remote work or shuttering wholly, and people adjusting to social distancing or more extreme quarantine measures. […]
From 1 April 2020, Norway will require non-resident suppliers of “low value” goods to Norwegian consumers to charge VAT on such supplies. Norway is the latest in a series of countries to take this step ahead of similar changes scheduled to begin in the European Union next year. Around the world, countries impose VAT style […]
In the past five years, transaction automation platform vendors who embraced e-invoicing and e-archiving compliance as integral to their services grew on average approximately 2.5 to 5 times faster than the market. Two decades of EU e-invoicing: many options, different models Until 1 January 2019, when Italy became the first European country to mandate B2B […]
For companies operating in Turkey, 2019 was an eventful year for tax regulatory change and in particular, e-invoicing reform. Since it was first introduced in 2012, the e-invoicing mandate has grown, and companies are having to adapt in order to comply with requirements in 2020 and beyond. According to the General Communique on the Tax […]
New go-live date for myDATA legislation A new roll-out date for the myDATA e-books mandate was announced by the Greek tax authority, the IAPR, during a recent meeting with local industry groups. While nothing is formal and binding until it’s been codified through law, the tax authority seems to have made up its mind about […]
Countries worldwide are introducing indirect tax measures intended to mitigate the economic consequences of the coronavirus pandemic. Prospective measures by EU Member States include: Austria Austria has announced that taxpayers can seek elimination of default interest and penalties for late submissions resulting from coronavirus. Belgium Belgium has announced that businesses encountering financial difficulties can […]
This year’s sports cancellations, including the NBA and March Madness, have left many states with far fewer tax dollars than expected. Since it was legalized by the Supreme Court in 2018, sports betting has been legalized by state governments across the country. Last year, nine states legalized sports betting. This brings the total number of […]
In the last several weeks, we have monitored many efforts by federal, state and local governments to provide relief to both businesses and individual taxpayers impacted by the COVID-19 pandemic. As they relate to indirect tax (VAT/Sales Tax/GST), the measures enacted to-date have followed varying paths. Here are a few examples of the types of […]
Originally posted: March 18, 2020, at 5:00 p.m. ET. Last Updated: June 29, 2020, at 5:00 p.m. ET. The impact of COVID-19 on businesses across the globe has been swift and severe. In response, many federal, state and local governments are working to provide relief to both businesses and individual taxpayers impacted by the pandemic. […]
The expansion of Poland’s new SAF-T report (JPK) barely took effect before Poland is steaming ahead with a more far reaching plan. It aims to introduce a centralized e-invoice system via an exchange platform in 2022. In an interview published on the Polish Ministry of Finance webpage, the Minister of Finance says that implementing mandatory […]
The coronavirus has moved from being a panic to a pandemic over the last few weeks, leading to mass closures and social distancing, and capturing all of our attention. The news is replete with stories of cancelled events and ways to cope with the reality of a modern plague. Heavily dependent on tourism and entertainment, […]
With roughly two weeks to go until the first mandatory phase of India’s e-invoicing reform was set to go live, the GST Council has now decided to slam the breaks and halt the go-live. Or at least, bring it to a significant temporary standstill of 6 months, until 1 October 2020. Following a long list […]
Anyone predicting clearance model e-invoicing system, Italy’s FatturaPA, would undergo further reform would be right. Agenzia delle Entrate – AdE, the Italian tax authority, has issued new technical specifications and schemas for Italian B2B and B2G e-invoices. But – what do these changes really mean? And what impact do they have on business processes? Technical […]