Unclaimed property is ripe for potential fraud due to the nature of the property – after all, it is either lost or abandoned and nobody will know that it is missing. Unclaimed property fraud can occur at both the holder and state levels. It can be perpetrated internally by employees or externally by people posing as […]
Over the last few years, one of the leading issues affecting the direct-to-consumer (DtC) wine shipping market has been the ongoing effort by states to regulate third-party shipping services, specifically fulfillment houses. At various times, it has seemed as though a deluge of new rules and restrictions around using fulfillment houses was about to sweep […]
The Electronic Invoicing Law of the Dominican Republic was published on 17 May 2023, mandating e-invoicing throughout the territory as of 18 May 2023. The law was published in the Official Gazette, whose purpose is to regulate the mandatory use of electronic invoicing in the Dominican Republic, including the establishment of the electronic invoicing tax […]
Implementing certified add-ons in SAP S/4HANA on-premise or a private cloud environment will allow you to expand the capabilities of your system. However, it is necessary to maintain a pristine core by strictly adhering to the most effective procedures. This blog details the most important steps companies should take to design an add-on with a […]
The Spanish government has published the much-anticipated draft regulation with the framework for implementing mandatory B2B e-invoicing. The proposed legislation outlines the operation of the Spanish e-invoicing system. Its main feature is the reliance on the principles of interoperability of e-invoice formats and interconnectivity of e-invoicing platforms. The goal is to promote digitalization (particularly for […]
Some of you may have already completed your first round of the submission for the group capital calculation (GCC) process. More than 20 states required a submission at the end of 2022, due to their lead state approving the regulation. Of the states that did approve, there were varying due dates for submission – some […]
Preparing your business for direct-to-consumer (DtC) wine shipping is no small feat. Between licensure, compliance concerns, tax accuracy and regulated reporting, overwhelm may seem inevitable. With the right partner by your side, you can focus on the delivery details that matter most to your customers. But there’s one delivery element that no one can control: […]
According to the latest global market report, Billentis, the Asia Pacific region is expected to achieve the highest annual e-invoice volume growth rates compared to Latin America and Europe until 2025. This is mainly because the Asian market, outside of South Korea, is new to the tax digitization journey and is accelerating the adoption of e-invoicing as […]
We’ve previously discussed key things to keep in mind if your business receives a sales tax notice, but what could potentially cause your organization to receive one? Knowing the common causes for a sales tax notice won’t guarantee that your business will never receive one. However, being able to prepare for receiving one can help […]
Outsourcing your 1099 reporting can be a big change for your business and there are many aspects to consider before choosing a partner to aid in the process. Staying compliant is the only way to avoid penalties from the IRS and state governments. Before you choose a partner in your reporting process, be sure to […]
In a recent Commerce7 and Sovos ShipCompliant webinar, experts from each team shared the latest statistics and trends in direct-to-consumer (DtC) wine and offered tips on how to leverage them to grow your business. Here are the main takeaways from presenters Zach Kamphuis and Karen Urquhart of Commerce7 and Sovos ShipCompliant’s Alex Koral. DtC wine […]
The wholesale market remains one of the more fruitful and effective ways for beverage alcohol suppliers to get their products into the hands of consumers. And in many cases, selling wholesale through what is called the three-tier system is the only way for a winery, brewery, distillery or cidery to enter a state’s marketplaces. As […]
Direct state reporting obligations have gotten increasingly difficult for some businesses over the past few years. With more states requiring direct reporting of form series 1099, more companies are subject to penalties if they do not comply with those obligations. As state reporting evolves, ensuring your process is efficient is critical. Strengthening your reporting process […]
Many companies utilise SAP for their tax processes, but limitations in native software functionality add a layer of complexity. Custom coding is often required for businesses to achieve their desired results, producing the need for ongoing customisation and optimisation – this creates a hefty burden for companies, in addition to their tax compliance obligations. SAP-certified […]
If you are evaluating Sovos, we want you to understand expectations for the customer experience and what teams are there to support you. At Sovos, we have a range of teams ready to support you from the day you sign a contract. Whether it be a customer success representative to review the value you are […]
Have you ever received a sales tax notice from a state department of revenue? Whether you answered yes or no, there are important things to keep top of mind to help keep your business prepared. Finding out that you have failed to comply with one or more of your sales tax obligations can be startling. […]
The Ledger of Economic Operations (Libro Registro de Operaciones Económicas), also known as LROE, is a main compliance element of the Batuz tax control system. This system is under implementation in the province of Bizkaia, located in the autonomous Basque community in Spain. Taxpayers under the Batuz mandate must comply with both TicketBAI and LROE […]
Unclaimed property compliance can be difficult and overwhelming. Clients often ask what they should be doing to ensure they are compliant with the various laws and regulations. It isn’t easy, especially if you have multiple property types such as checks, credits or customer accounts that have the potential to become unclaimed property in multiple states. […]