The myDATA mandate finally went live on 1 October 2021 for most taxpayers after several postponements (and lobbying for a further postponement). The Greek authorities have stated that no penalties will be imposed for 2021 until relevant legislation is published. The primary goal of the authorities is to ensure all taxpayers are in a position […]
Legislation is always evolving, and legislation covering Insurance Premium Tax (IPT) and the relevant parafiscal taxes is no different. As IPT is so niche, references to other legislation are often made – this can be to a finance act, VAT, or another piece of tax related legislation. And on top of this, there are the […]
Fall is here and the wine direct-to-consumer (DtC) shipments landscape has adapted to the “new normal” of 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 […]
At our Insurance Regulatory Summit, we announced the launch of the Web App, a new browser-based interface for the Sovos Statutory Reporting solution. The Web App is an addition that can further help users comply with statutory reporting and state filing requirements. The Web App was created for and by Sovos users to deliver a […]
In our previous blog, we focused on VAT registration and the steps a business needs to go through to determine where it needs to be registered. Once the registration is in place, there are a wide range of obligations that need to be met on an ongoing basis. The first step is fully understanding these […]
Sparkling product registrations leads the way, with 23% spike in Q3 2021 As the summer months wind down, beverage alcohol consumers are not halting their buying patterns. While the third quarter of 2021 saw decreases in new product registrations when compared to Q2, numerous categories show continued increases over the last year, largely in wine […]
Three new MarketScapes have been released by IDC and all three recognize Sovos as a leader in their respective categories. As noted by Kevin Permenter, IDC research director, financial applications, “Sovos combines local expertise with a seamless, global customer experience across its full suite of compliance solutions. They are a strong choice for companies of […]
The unclaimed property filing season is broken down into three major categories: Analysis, Due Diligence and Final Reports. The cut-off date for the “Fall” filing season is June 30, the analysis is typically performed during July and diligence mailings are executed by August 31. Due diligence mailing requirements allow 30 days for a recipient to […]
Poland implemented its version of a mandatory SAF-T file (the JPK_V7M/K reports) back in October 2020. Since then, businesses must submit detailed information on invoices, along with summary reporting details typically seen in a VAT return. The Ministry of Finance recently adopted amendments to the mandatory JPK_V7M/K reports, effective 1 July 2021. However, in order […]
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 are often the first to know about new regulatory changes and latest developments on tax regimes across the world, […]
The EU e-commerce VAT Package is here. The new schemes, One Stop Shop (OSS) and Import One Stop Shop (IOSS) bring significant changes to VAT treatment and reporting mechanisms for sales to private individuals in the EU. Sovos recently held a webinar on Back to Basics: The EU VAT E-Commerce Package. There were a number […]
Corporations in a wide variety of sectors are rapidly transforming their supply chains. The core goals of supply chain globalisation and automation are operational and to achieve financial benefits. However, many companies overlook the impact of indirect taxes – like value added taxes (VAT) – that are assessed by the countries in which they operate. […]
September was unusually eventful for French businesses. A new ordinance was published, specifying the different parts of the upcoming continuous transaction controls (CTC) regime and at the same time postponed the entry into force of the system by 18 months. On top of this, specifications of process flows, and document formats were released at the […]
The traditional 10-year anniversary gift is tin or aluminum, and while we don’t have a gift like that to celebrate a decade of SuiteWorld, we still want to help you plan the best SuiteWorld 2021 agenda possible. Whether you’re attending in person or virtually, there’s a lot to learn at SuiteWorld 2021. From attending various educational […]
Registering for VAT in the EU remains an overly complicated task, with each Member State having its own processes and procedures to obtain a VAT number. The various One Stop Shop schemes that were introduced on 1 July 2021 show what the future could look like, with online application and a similar registration process in […]
Goods in transit insurance is defined in the Solvency II Directive 2009/138/EC (25 November 2009) within Annex I Classes of Non-Life Insurance under class 7. It includes merchandise, baggage, and all other goods and the insurance relates to all damage to or loss of goods in transit or baggage, irrespective of the form of transport. […]
On 26 November, Black Friday presents another opportunity for retailers to drive e-commerce sales and boost revenue. It has become one of the biggest global retail events of the year, with shoppers increasingly turning to online retailers for the best deals. Retailers will be working hard to prepare the best deals to entice shoppers but […]
Direct-to-consumer (DtC) alcohol shipping laws vary from state to state, and that fact holds true for importers looking to enter the DtC business. While importers can be treated similarly to other members of the “supplier” tier (e.g., wineries, breweries), they are often treated differently in federal and state regulations. Because of how DtC shipping laws […]