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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 […]

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 […]

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 we inch closer to the implementation date of 1 January 2022 for Norway’s new digitized VAT return, let’s take a second look at the details. Norway announced its intentions to introduce a new digital VAT return in late 2020, with an intended launch date of 1 January 2022. With this update comes the removal […]

As of 1 January 2022, the Declaration of Exchange Goods (DEB) will be replaced by two new declarations, a statistical survey and a VAT summary statement. Current requirements Currently, taxpayers must complete the DEB, which is a single declaration that merges a statistical section and a tax section. Taxpayers must fill out both sections of […]

The Provincial Council of the Gipuzkoa region in the Basque Country recently published Foral Order 608/2021. This establishes the schedule for adopting the TicketBAI (TBAI) obligation in that region. This local regulation also exempts certain natural persons of an age close to retirement from its compliance. What is TicketBai? TicketBAI is an initiative between the […]

Continuing our blog series looking at specific IPT-related tax acts around the world, we head to Denmark. This insight is shared in Sovos’ Guide on IPT Compliance. Written by our team of IPT and regulatory specialists, this guide is packed full of insight to navigate the ever-changing regulatory landscape. Non-life insurance tax registration and reporting […]

In our recent webinar, the team at Sovos discussed the upcoming Saudi Arabia e-invoicing mandate. The webinar covered the finalised rules for Phase 1 of the e-invoicing regime which is due to go live on 4 December 2021 as well as updates to phase 2. There were plenty of questions we didn’t have time to […]

The European Commission (EC) introduced the Import One Stop Shop (IOSS) on 1 July 2021 to simplify the accounting for VAT on goods imported into the EU with an intrinsic value below EUR 150. It is not compulsory, and there are alternative methods of accounting for import VAT on such imports. As with any new […]

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team is often the first to know about new regulatory changes and the latest developments on tax regimes worldwide to […]

In previous blogs, we’ve taken a deep dive into Romania’s new SAF-T requirements. In the latest guidance released this week, the tax authority has provided updated implementation timelines for different sizes of taxpayers and information on the grace period. In addition to clarifying timelines, the tax authority also issued a new version of the schema […]

Phase 1 of the e-invoicing system will be live in less than three weeks. While many businesses are still implementing a solution, the Saudi tax authority continues to publish more details on their official webpage. One of the most recent announcements is about the fines the government will levy in case of non-compliance with the […]

The Turkish Revenue Administration (TRA) published a Draft Communique that includes significant changes to the Tax Procedure Law General Communique No. 509, which initially aimed to unify all e-document regulations when it was published in October 2019. With the Draft Communique, the TRA will lower the current gross sales revenue threshold for mandatory e-fatura and […]

Update: 8 November 2024 by Inês Carvalho Romania: Mandatory B2C e-reporting from 2025 The scope of electronic invoicing in Romania has been expanded to include B2C transactions, following the enactment of Government Emergency Ordinance no. 69/2024, published on June 21st. Established taxpayers are required to electronically report their B2C invoices to the RO e-Factura platform […]

In our previous blog, we looked at how businesses can determine their obligations when they’re registered for VAT in other countries. We will now focus on what is required to meet those obligations. Submitting VAT returns The VAT return is the most obvious declaration that has to be submitted although as we highlighted in our […]