Direct-to-consumer (DtC) shipping compliance has many nuanced regulations that shippers must be aware of as they look to expand their business reach. But what happens when you’re trying to integrate your ecommerce approach? Is there a way to streamline your DtC wine shipping compliance when using ecommerce solutions like Shopify? The short answer is: yes! […]
This blog was updated on November 8, 2022. Congratulations, you made it through the busy October unclaimed property reporting season. Now what? Sure, you may like to forget about unclaimed property until the next reporting season comes along but that isn’t the best practice as unclaimed property compliance is a year-round job. Perform a review […]
The old mnemonic device for remembering states without a statewide sales tax, “NOMAD” (New Hampshire, Oregon, Montana, Alaska, and Delaware) might be dropping a letter. Specifically “A”, with the introduction of HB 3006 and HB 4005 in Alaska. HB 3006 and HB 4005 each includes legislative language that would implement a statewide tax on sales […]
Electronic invoicing is rapidly becoming a standard business process. Governments are pushing for the adoption of B2G invoicing to optimize the public procurement process and also to provide a boost to the adoption of e-invoicing between businesses. Apart from countries that have introduced general e-invoicing mandates to improve fiscal controls – most of which have […]
Update: 25 June 2024 by Dilara İnal Ministry Publishes Draft Guideline on B2B E-Invoicing The German Ministry of Finance (MoF) released a draft guideline on 13 June 2024, detailing the upcoming B2B e-invoicing mandate which will roll out on 1 January 2025. Although the current law only obliges taxpayers to issue and receive e-invoices for […]
Regardless of where the event, conference or exhibition is held, there will be VAT obligations to be met. For event organisers, understanding these VAT requirements is key as failure to do so will not only impact profit margins but may also result in late payments and possible penalties. VAT on conferences and events If your […]
As our webinar explored in depth, Insurance Premium Tax (IPT) compliance is complex and constantly evolving. The Sovos compliance team covered IPT compliance in different countries across Europe and the globe and discussed topics including IPT in Germany, Italy, the UK and Brexit and beyond. Despite this deep dive, there were plenty of questions that […]
As we approach the end of the first full year following the effective departure of the United Kingdom (UK) from the European Union (EU), for many UK insurers this has seen the use of other EU-based entities within their structure to write business in the EU. These entities were often explicitly established to deal with […]
The IRS issued Proposed Regulations in September that included a reduction to the required electronic filing threshold for businesses from 250 information returns to 100 returns for the 2021 tax reporting season. Further, the new requirements change the way that a business determines how to arrive at the number of returns required to be filed […]
2021 ACA reporting will most likely be different than prior years. Last fall, the IRS issued Notice 2020-76, which provided Affordable Care Act (ACA) filers with an extension of time to furnish Forms 1095-B and 1095-C to recipients. Instead of being due by the end of January, the forms could be mailed by March 2 […]
Like other alcohol producers, sake brewers are increasingly interested in the direct-to-consumer (DtC) shipping market to better connect with their consumers. While the laws governing DtC shipping of sake are fairly straightforward, broadly following the rules for shipping other product types, it is complicated depending on how each state defines sake itself. No state’s DtC […]
The global e-commerce market continues to transform in today’s digital world. E-commerce transactions consist of a variety of digital services and products such as software, applications, streaming media, web hosting, online advertising, e-books, online newspapers, and various others. From an indirect tax perspective, nations across the globe apply destination-based VAT and GST legislation to these […]
Texas has been quite active in amending its unclaimed property statute. Not long ago, it enacted Texas House Bill 3598 (HB 3598), which amended the manner in which holders report property to the state. Additional revisions were recently made to the statute, focusing on a number of other subjects in Texas House Bill 1514. Texas […]
In our last look at Romania SAF-T, we detailed the technical specifications released from Romania’s tax authority. Since then, additional guidance has been released including an official name for the SAF-T submission: D406. Implementation timeline for mandatory submission of Romania SAF-T Large taxpayers (as designated by the Romanian tax authorities) – 1 January 2022 Medium […]
Insurance Premium Tax (IPT) is complex. For insurers, keeping up with changing rates, rules and regulations can be challenging especially when writing across multiple territories. Sovos’ Guide on IPT Compliance, written by our experienced team of IPT and regulatory specialists, looks at the significance of digital transformation and helps paint a picture of a diverse […]
Updated January 5, 2022: Sovos has completed the acquisition of Istanbul-based Digital Planet. When Sovos acquired Istanbul-based Foriba two years ago, we saw it as a key piece to the global puzzle we promised to complete on behalf of our customers. Following our previous acquisitions of Paperless in Chile and Trustweaver in Sweden, the Foriba […]
The Saudi Authorities are proposing changes to the VAT Implementation Regulations (VATIR). The proposed changes are open to public consultation, with interested parties able to submit their opinions until 23 October 2021. Why are changes being proposed to VATIR? According to the Zakat, Tax and Customs Authority (ZATCA), the changes aim to harmonise e-invoicing related […]
Retailer direct-to-consumer (DtC) shipping still has a way to go in terms of being as widely accepted as DtC wine shipping. However, there has been continued interest in making that a reality. Sovos ShipCompliant keeps a close watch on the latest updates in the beverage alcohol industry, and we’ve gathered a few of the top […]