Blog

How to Prepare for New Remote Commerce Taxation Requirements

In a recent South Dakota v Wayfair Q&A webcast, Sovos experts answered your most burning questions regarding which states have new regulations, statutes or pending changes relating to remote commerce, economic nexus sales tax obligations and how you should prepare. What should sellers be doing to prepare for this new era of sales tax where […]

Read More
Sovos Intelligent Reporting Summit: Look for W-8 Red Flags and Avoid 1042-S Penalties

Mary Kallewaard is co-founder of Cokala, an advisory services firm offering experienced and practical help for tax regulatory compliance for a wide variety of IRS forms. She will present on how to spot potential problems with W-8 and 1042-S forms at the 2018 Sovos Intelligent Reporting Summit in Denver in October. Sovos recently spoke with […]

Read More
South Dakota v Wayfair: What it Means for Use Tax and Procurement Practices

There is no shortage of advice on what remote commerce sellers should do in light of the South Dakota v. Wayfair decision and the immediate tsunami of states acting to impose immediate (or relatively soon) tax collection and remittance obligations. In fact, smart sellers may have been planning ahead for this eventuality by evaluating (and […]

Read More
When Real-Time Tax Controls Move from a Trend to the Norm, What Comes Next?

Few experts would disagree with the idea that the global trend towards real-time tax controls on business transaction data has evolved from a ‘trend’ to the ‘norm’. The first ‘clearance’ systems have now been in place for over a decade, and pretty much every tax administration that we’ve talked to, who haven’t yet embraced this […]

Read More
Truth or Consequences: What Is the Source of Truth for Audits?

Governments around the world are going digital – eliminating paper-based reporting and instead leveraging technology for a high level of tax compliance automation. Real-time reporting of invoices, receipts, tax payments and accounting data has led to tighter integration between business processes and tax authorities. With so much data now in the hands of both companies […]

Read More
Brazil Launches EFD-REINF for Tax Withholdings

Update: 2 March 2023 by Kelly Muniz Postponement of EFD-REINF Deadline for Events Referring to Withholding IRPF, CSLL, PIS and COFINS The publishing of Normative Instruction RFB n. 2.133, of 27 February 2023 postpones the deadline of the obligation to submit EFD-REINF (Digital Fiscal Record of Withholdings and Other Fiscal Information) events related to withholding: […]

Read More
Several States Move to Tax Remote Commerce – What Businesses Need to Know

In the wake of the Supreme Court decision in South Dakota v. Wayfair, Inc., which has effectively killed the physical presence rule established by the Quill decision, states have been empowered to collect sales and use tax from remote sellers within the somewhat muddier standard that is “Substantial Nexus.” And to no one’s surprise, several […]

Read More
Italy Seeks to Clarify its E-Invoicing Mandate

With just 6 months until e-invoicing becomes mandatory for all domestic Italian supplies, there is still a lot of confusion over the timeline, scope and the steps Italian taxpayers have to take to ensure they are compliant. This lack of clarity, even though the mandate was originally introduced back in December 2017, and despite the […]

Read More
Mexico Postpones Electronic Invoice Cancellation Policy Change until September

Mexico’s planned process change for cancellations of electronic invoices will take effect Sept. 1 rather than in July as previously announced. The Mexican tax authority, the SAT, will require senders of electronic invoices, a document called a CDFI in Mexico, to get permission for cancellation from the party that received the invoice before the sender […]

Read More
The Top Three SAP Challenges Impacting Manufacturers

The acceleration of regulatory complexity is causing unnecessary strain on IT departments within manufacturing companies, negatively impacting growth. In fact, 31% of companies report that keeping up with the volume and complexity of regulations is their number one compliance challenge, and 45% say increasing costs of compliance is their number one barrier to growth. The […]

Read More
Reengineering VAT Rules for Cross-Border Transactions within the European Union

When the first European VAT Directive was adopted by the European Union’s forbearer, the European Economic Community all the way back in 1967, the ambition was to establish a definitive system for the collection of VAT from trade between Member States. The directive put forward a plan to create a unified system for intracommunity transactions […]

Read More
South Dakota v. Wayfair – Sales Tax Expert Q&A Webcast Recap

On June 27, Sovos hosted a live Q&A webcast, “The Supreme Court’s Decision on South Dakota v. Wayfair: Live Q&A With Our Regulatory Experts,” to give tax professionals an opportunity to get answers to their most burning questions. Below is a brief recap of what was covered by our Director, Regulatory Analysis, Chuck Maniace, and […]

Read More
Confusion over Columbia Electronic Invoicing Mandate Serves as a Reminder that It’s Coming
Read More
Italian Electronic Invoicing Mandate for Roadside Gas and Service Station Fuel Supplies Formally Postponed to 1 January 2019

For those active in the world of e-invoicing and global VAT compliance, you’ll know that in the past month all eyes have been on Italy and the first deadline for its e-invoicing reform. Since our last update, concerning the possible delay to the July 1 deadline, speculation has been rife about how volatile the mandate’s […]

Read More
Tax Automation in a Post Quill World

On Thursday, June 21, 2018, with the decision of the Supreme Court in South Dakota v. Wayfair, the sales tax compliance landscape underwent a dramatic shift. If you haven’t already, the time is now to consider whether you are doing what you need to do to keep your company safe. The Immediate Aftermath of South […]

Read More
Sales Tax Software Meets ITs Offensive and Defensive Technology Needs

You may be familiar with the highly debated Gartner term, “bi-modal IT,” the practice of managing two separate but coherent styles of work: One focused on predictability; the other on exploration. Think of this as projects that keep the lights on or run the business vs. projects of innovation. Both play key roles in digital […]

Read More
Real-Time VAT Reporting 101: Common Terms and Definitions

More countries are transitioning from electronic VAT filings to real-time VAT reporting, automated audits, eInvoicing and eReceipts.  Learn terminology key to understanding real-time tax reporting. Latin America (LATAM) is deemed the most complex tax compliance environment in the world. Over the last decade, it has become synonymous with real-time value-added-tax (VAT) compliance and reporting. In […]

Read More
Sales Tax Moves into the Modern Age…Are You Ready?

With these words, the world of sales tax as we knew it was turned upside down: Held: Because the physical presence rule of Quill is unsound and incorrect, Quill Corp. v. North Dakota, 504 U. S. 298, and National Bellas Hess, Inc. v. Department of Revenue of Ill., 386 U. S. 753, are overruled. Much […]

Read More