DtC cider shipping can be complicated in that whether a state permits it often depends on how a state defines “cider.” Ciders are a general category of beverage alcohol products, made from fermented apples or pears, with a low to moderate alcohol content and often sold as an alternative to malt beverages. In terms of […]
A recent review by the state of Idaho Alcohol Beverage Control (ABC) division’s legal team has conclusively determined that out-of-state retailers have no permission to ship any beverage alcohol products direct-to-consumer (DtC) in the state. This determination reverses previous interpretations of Idaho’s laws, which had been understood to permit such shipments As the DtC wine […]
Increasingly, technology is being infused into our day to day lives to simplify and streamline activities. From home to the workplace and everything in between, digitization can help us by removing time consuming activities, while also using the power of data to provide insights. The digitization of tax In this context, revenue authorities are digitizing […]
Korea’s National Tax Service recently shared an investigation in which it discovered several foreign companies were evading tens of billions of dollars in taxes to be reported in Korea using international transactions. A few examples of the tactics used by these companies included stealing sales through offshore companies located in tax havens, and unfairly transferring […]
The widespread adoption of electronic invoicing regimes has given tax authorities access to enormous quantities of taxpayer data. In many jurisdictions, this data enables tax authorities to summarise a taxpayer’s transactional information for a given filing period. It also enables them to present the taxpayer with a draft VAT Return, filled in ahead of time […]
Summer is winding down and the wine landscape continues to fluctuate in response to the pandemic. Staying mindful of marketplace data will ensure the industry can properly adjust to any ebbs and flows, helping wine producers, retailers and consumers alike. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide a much more […]
Understanding brand ownership and self-production requirements We’ve previously discussed how direct-to-consumer (DtC) shipping of alcohol has numerous requirements and regulations for producers and retailers. Everything from getting licensed to brand label registration details to age verification protocols must be considered. But what happens when an alcohol producer (e.g., a winery, brewery, distillery or cidery) wants […]
If you are currently enrolled in Delaware’s voluntary disclosure agreement (VDA) program, it is very important to provide periodic updates to the VDA administrator contact assigned to you – either Faegre Drinker Biddle & Reath LLP or TL2Q, LLC.. All correspondence from the state or it’s administrators should be treated seriously and responded to in […]
A review of the passage of House Bill 1545, also known as the 2019 TABC Sunset Bill, has compelled the Texas Alcoholic Beverage Commission (TABC) to majorly revamp their alcohol license process and fees. The following changes are set to be effective September 1, 2021. What changes are occurring? Texas is moving from 75 to […]
Incoterms are set by the International Chamber of Commerce and outline the responsibilities of buyers and sellers while making international transactions. Understanding the relationship between VAT and Incoterms now can prevent costs and delivery delays down the road. In this episode of the Sovos Expert Series, Becca Taylor sits down with Andy Spencer, Director of […]
My colleague, Lisa Holmquest, previously discussed what can be expected from implementing new sales tax software. Sovos aims to deliver value quickly and reduce the cost and effort required to integrate with a new system. Additionally, we want our customers to feel supported 24/7, even when things don’t go as expected. When it comes to […]
The Ministry of Economic Affairs and Digital Transformation in Spain has recently published a preliminary draft law for the creation and growth of companies in the country. This law aims to promote productive investment, innovation, and modernisation, with regulatory reforms to improve the business climate and promote entrepreneurship. The new project also aims to fight […]
Direct-to-consumer (DtC) shipping continues to grow in popularity, something that has not gone unnoticed by retailers. While alcohol producers enjoy broad access to the DtC shipping market, there are nuanced alcohol retailer DtC shipping laws and regulatory rules for compliance. A key consideration for retailers looking to ship alcohol DtC is recognizing the states that […]
As offices around the world begin to reopen after nearly 18 months of employees working from home, many buildings aren’t as full as they used to be. In fact, 2.7% of the workforce quit their jobs in June 2021 alone. This is caused in large part by what many are calling the “Great Resignation.” Finance […]
In Insurance Premium Tax (IPT) compliance, the Aviation Hull and Aviation Liability policy is defined under Annex 1, Classes of Non-Life Insurance, as described in DIRECTIVE 138/2009/EC (SOLVENCY II DIRECTIVE). But there are variations and identifying which class the policy is covering can be a challenge. This article will cover what insurers need to know […]
Back in 2019, Portugal passed a mini e-invoicing reform consolidating the country’s framework around SAF-T reporting and certified billing software. Since then, a lot has happened: non-resident companies were brought into the scope of e-invoicing requirements, deadlines have been postponed due to Covid, and new regulations were published. This blog summarises the latest and upcoming […]
The State of Delaware Department of Finance sent out letters to Holders requesting verification of annual unclaimed property reports for property presumed abandoned as of December 31, 2020. These Delaware reporting verification letters are targeted to holders that previously reported unclaimed property to Delaware but did not submit a 2020 report, which was due on […]
A tax authority audit can come in various forms, whether it be directly to the insurer itself or indirectly through a policyholder or broker. It can be targeted, for example, where an insurer has been specifically identified to be investigated due toa discrepancy on a tax return, or it can be indiscriminate in its nature […]