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Press Release: Sovos Acquires Largest eReceipt Compliance Solution, Paperless, Creating First Global Solution for Business-to-Government Reporting

With the acquisition, Sovos adds eReceipts to its real-time tax reporting solution, expands its presence in Brazil and extends Latin American operations to Chile, Colombia and Peru. Wilmington, Mass. – Global tax compliance and reporting software leader Sovos announced today that it has acquired Chile-based Paperless to expand its real-time government reporting capabilities with electronic […]

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NAFTA Discussions Leave Multinationals in Mexico Uncertain

The first talks on renegotiating NAFTA begin this month, and with continual discussions of a U.S.-first trade agenda, multinational companies with operations in Mexico are left uncertain on what these talks might entail. While no one knows exactly where these negotiations may land, multinationals should have some answers by the end of 2017, as all […]

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Sovos Acquires Largest eReceipt Compliance Solution, Creating First Global Solution for Modern Business-to-Government Reporting

We’re excited to announce the acquisition of Paperless, which expands our real-time government reporting capabilities with electronic receipts and consumer point-of-sale tax reporting – and extends our presence in Latin America. Paperless, which is based in Santiago, Chile, is the world’s largest eReceipts and eDocuments company, processing more than two billion transactions last year across […]

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Sovos adquiere la mayor solución de cumplimiento fiscal en facturas electrónicas, creando la primera solución global para modernos informes de transacción en el ámbito B2G

Nos complace anunciar la adquisición de Paperless, que amplía nuestras capacidades de informes al gobierno en tiempo real con boletas electrónicas e informes fiscales de puntos de venta al consumidor y extiende nuestra presencia en América Latina. Paperless, con sede en Santiago, Chile, es la mayor compañía del mundo en facturas y documentos electrónicos, procesando […]

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Sovos adquire a maior solução de conformidade de e-Receipt, criando a primeira solução global para relatórios modernos entre as empresas e o governo

Temos prazer em anunciar a aquisição da Paperless, que amplia nossas capacidades de relatórios governamentais em tempo real com Cupom Fiscal Eletrônico eReceipts e relatórios fiscais de pontos de venda do consumidor, ampliando a nossa presença na América Latina. A Paperless, com sede em Santiago do Chile, no Chile, é a maior empresa no segmento […]

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Tax Reform on the Horizon in Puerto Rico

The Secretary of the Treasury for the Commonwealth of Puerto Rico announced they plan on encouraging the local legislature to adopt significant tax reform measures, including a number of items that will impact sales tax (locally known as IVU). The details of the proposed reforms have not been released but the Secretary has indicated that […]

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Sovos Wins Product of the Year Awards at The American Business Awards

Global tax compliance and reporting software leader recognized with two Stevie Awards in Global Risk & Compliance and FinTech Categories    Wilmington, Mass. – July 26, 2017 – Global tax compliance and reporting software leader Sovos announced today it has been honored with two Product of the Year awards at the The 15th Annual American Business Awards, a […]

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Puerto Rico Governor Signs Bill Requiring 2 Monthly Sales Tax Payments

The Governor of Puerto Rico has signed into law a bill (PC 1133) that changes the frequency of sales tax remittance. As reported earlier in this forum, the new rule requires most taxpayers to pay sales tax in the same month as it’s collected, in two monthly installments: The first payment is required on the […]

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Tax Reform on the Horizon in Puerto Rico

The Secretary of the Treasury for the Commonwealth of Puerto Rico announced that they plan on encouraging the local legislature to adopt significant tax reform measures, including a number of items that will impact sales tax (locally known as IVU). The details of the proposed reforms have not been released but the Secretary has indicated […]

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unclaimed property reporting services
A Standards-Based Approach for Global Compliance with Real-Time Tax Controls

I follow global tax compliance across continents closely and what can be seen is a clear trend of Tax Administrations (TAs) introducing increased technology-based real-time tax controls. Such controls include e-invoice clearance, e-ledgers and e-accounting, among others. Unfortunately, I’ve seen many real-life cases in different countries where the TAs issue a regulation that may make […]

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Mexico Extends FATCA and CRS Deadlines

Along with new deadlines, Mexico tax authority releases additional CRS specifications.   The Mexican Tax Administration Service (SAT) has published additional AEOI material, including a calendar with relevant deadlines and specifications for CRS transmittals. The AEOI Calendar indicates that the FATCA and CRS testing window will now end on July 14, 2017. At that time, the production period […]

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La Compliance Inteligente es clave para el éxito en Latinoamérica

Toda empresa que opere en Latinoamérica está bien familiarizada con las dificultades que involucradas en las Leyes para la facturación y notas fiscales electrónicas y las normas que rigen los impuestos. Desde cambios constantes en la legislación hasta interrupciones de los negocios y penalidades financieras, los desafíos de seguir las normas fiscales en la región […]

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The New Strategic Role of Indirect Tax Professionals to Master Compliance

Tax compliance has evolved at a rapid pace in recent years. As governments go digital, loopholes are closing and reporting timelines are shrinking from weeks to milliseconds. The old way of doing things isn’t enough for the new world of rapid-response compliance. But these new challenges can also foster new opportunities. Businesses are taking a […]

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OECD Secretary General Issues Report on CRS for G20 Leaders

At last week’s G20 summit, OECD Secretary General Angel Gurría reported to world leaders that the past year has seen progress on multiple fronts in the fight against tax avoidance and evasion – thanks in large part to the Convention on Mutual Administrative Assistance in Tax Matters. The official report explores the key areas of progress, including the movement […]

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Curacao Publishes Revised AEOI Manual and Online Portal Guide

Curacao’s Ministry of Finance has released FATCA and CRS guidance regarding data specifications for XML transmittals and use of the online financial data exchange portal. The Manual of Automatic Exchange of Information, which provides information for both FATCA and CRS transmittals, has been revised to reflect the following updates: The AccountReport – Payment element has been updated to […]

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Further Clarity of Pending Puerto Rico Sales Tax Legislation

As reported earlier on this forum, Puerto Rico is considering 2017-2018 budget legislation that may significantly impact remittance requirements for existing taxpayers in the immediate future. Specifically the bill which is currently sitting on the Governor’s desk, would require taxpayers whose average sales tax liability is at least $2000 per month (or who otherwise qualify […]

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Intelligent Compliance Key to Success in Latin America

Any business with operations in Latin America knows what a burden e-invoicing and tax reporting compliance can be. From constantly changing legislation to business disruptions and financial penalties, the challenges associated with Latin American compliance are profound, and continue to compound with each new mandate.

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4 Key Changes in Ecuador’s New Offline E-Invoicing Model

Starting January 2018, all taxpayers in Ecuador will be required to start invoicing under Ecuador’s new offline schema. Announced by the SRI, Ecuador’s tax authority, in 2015, this new e-invoicing model presents both benefits and challenges to companies operating in Ecuador. On one hand, this new process will give companies a slight buffer for compliance, […]

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