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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 […]
If Black Friday and Cyber Monday 2025 are any indication, online shoppers are out in full force with Labubus, Nintendo Switch 2s, and Dyson Air Wraps as top projected sellers according to Adobe Analytics. Overall Black Friday online numbers reached new levels, with a record-breaking $11.8 billion, or a 9.26% increase from last year. Cyber […]
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 […]
As 2021 comes to a close, perhaps there is small comfort in knowing that the old adage of “the only constant is change” remains true for beverage alcohol. Rules and regulations on direct-to-consumer (DtC) shipping are adjusted, more states are opening options for DtC shipping and economic nexus continues to impact how suppliers, shippers and […]
The IRS released Proposed Regulations this week that permanently extends the time for businesses to provide the Recipient copy of Forms 1095-B and 1095-C. Rather than continue to issue annual Notices to extend the date to issue the statement to the recipient, these regulations propose to permanently amend §1.6055-1(g)(4)(i) i to automatically grant filers a […]
Editor’s note: This blog was updated on November 13, 2023 The 2023 1099 tax reporting season is rapidly approaching, and the changes and updates are still coming – from the IRS and states. How can you ensure you’re ready for the busy season in time? What are some best practices for ensuring your 1099 information […]
By Robert M. Tobiassen* As I write this, we honored soldiers and veterans last month on November 11, Veterans Day in the United States and Armistice Day in much of Europe. It is fitting to focus on another type of devastating conflict—the trade war. First and foremost, however, please do not interpret this comparison to […]