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The EU-UK Trade and Co-operation Agreement (TCA) was finally agreed on 24 December 2020. A week before the end of the transition period. Fully implemented into UK law, but the TCA remains provisional. It needs to be ratified in the European Parliament. Therefore it applies on a provisional basis until 28 February 2021. The TCA […]
On 31 December 2020, in a last-minute change, the Greek government once again postponed the go-live date of myDATA to April 2021. This announcement had been anticipated and came as a great relief to Greek taxpayers who were concerned about being ready for the previous go-live date of January 2021. The first quarter of 2021 […]
UPExpress, the free tool for companies to eFile unclaimed property reports directly to participating states, was discontinued at the end of 2020 because the current file formats no longer aligned with many of the state’s newly implemented technologies. You can still eFile unclaimed property reports to states that accept online reporting. However, if you plan […]
Just like in every jurisdiction, settling tax liabilities compliantly is important to avoid penalties and other consequences. But in Hungary there are additional benefits to a taxpayer if tax liabilities are settled as compliantly as possible. As of 1 January 2016, Hungary introduced the so-called taxpayers’ qualification system. This means the Hungarian Tax Office (HUTA) […]
Prior to the South Dakota v. Wayfair, Inc. decision, Nebraska could not require remote sellers to collect sales tax on sales made to customers in the state. However, there is now a Nebraska economic nexus following the Wayfair decision. The Nebraska Department of Revenue explains that this does not create a new tax, but just […]
Join Filippa Jornstedt as she discusses how e-archiving should be a critical part of your e-invoicing strategy. Listen to her discuss the following questions: How do e-archiving requirements change across borders? What are the problems that come from not having an e-archiving strategy? Are there consequences for non-compliance with e-archiving?
Pennsylvania’s economic nexus rules were impacted by the South Dakota v. Wayfair, Inc. Supreme Court decision. Pennsylvania passed Act 13-2019, which suspended its previous Marketplace Sales laws and determined “that a substantial economic nexus satisfies the Tax Reform Code’s definition of maintaining a place of business, requiring a person to collect and remit Pennsylvania’s sales […]
The Utah economic nexus sales tax was adjusted following the South Dakota v. Wayfair, Inc. Supreme Court decision. Utah now requires remote sellers to register, collect and pay sales tax if, in either the previous or the current calendar year, certain thresholds are met. We have outlined key points in those changes below. Enforcement date: […]
This month, Sovos ShipCompliant will release the annual Direct-to-Consumer (DtC) Wine Shipping Report with our partners Wines Vines Analytics, based on 2020 data. Here is what you need to know about this comprehensive report and some key findings from last year’s report. About the 2021 Direct-to-Consumer Wine Shipping Report The Direct-to-Consumer Wine Shipping Report is […]
Location of Risk is the foundation of any discussion concerning Insurance Premium Tax (IPT). Once you have correctly established the Location of Risk on a policy, you are on the cusp of determining what indirect taxes are due. This blog provides you with an overview on Location of Risk. For a deep dive read our […]
Technology can help businesses and governments measure and mitigate the impact of Covid-19. With further waves and recessions biting, technology offers an unparalleled opportunity for governments and business alike to gain a clearer picture of the current panorama. Digital tax returns and real-time or near-real time reporting offer up-to-date financial insight and many tax authorities […]
Almost every state has updated its sales tax nexus requirements following the South Dakota v. Wayfair, Inc. decision. Wisconsin followed suit with the majority of the country and adopted legislation that was in line with the details of the Wayfair decision. We have outlined the key points to the Wisconsin sales tax nexus below. Enforcement […]
This blog was last updated on July 19, 2024. When it comes to sales tax nexus updates, Wyoming was ahead of the curve. The Cowboy State passed rules requiring remote sellers to collect and remit sales tax even before the Supreme Court’s South Dakota v. Wayfair, Inc. decision. However, Wyoming had to stay implementation of […]
After the South Dakota v. Wayfair, Inc. decision, Vermont expanded sales tax collection requirements to include remote sellers. The Green Mountain State largely followed suit with South Dakota’s requirements outlined in the Supreme Court case, maintaining that a business that meets either a certain monetary or a transactional threshold has an obligation to collect and remit […]
The South Dakota v. Wayfair, Inc. decision pushed many states – including North Dakota – to adjust their economic nexus laws. North Dakota had previously passed a law in 2017 to address remote seller sales tax, but it was contingent on the Wayfair ruling. We have outlined key points on North Dakota’s economic nexus in […]
Sovos recently hosted a webinar with Joe Hillstead, a tax and advisory partner with Squire & Company (Squire). Squire works with Sovos to support the sales tax needs of its clients. In the webinar, Hillstead and Charles Maniace, VP, Regulatory Analysis and Design, Sovos, discussed issues such as: knowing when to partner with a Certified […]
We recently shared news of the European Commission (EC) opening a feedback period concerning an initiative to review VAT rules for financial and insurance services. The feedback period has now ended, and a public consultation period is set for the first quarter of 2021. The consultation will gather stakeholders’ views on the current VAT treatment […]
Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly IPT filings or end of year, can be stressful for insurance tax teams juggling regular workloads alongside the added pressure of ensuring filing is completed accurately and on time. To help, we wanted to offer some guidance on how to navigate deadline season successfully. […]