Blog

Shipment Logistics and E-Invoicing Compliance in LatAm

Moving goods from one place to another is a quintessential part of business. Manufacturers, wholesalers, transporters, retailers and consumers all need to carefully orchestrate the shipping and handling of raw materials, parts, equipment, finished goods and other products to keep business flowing. This supply chain harmony is what makes production and trade possible in society. […]

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What are the DtC Wine Shipping Laws By State?

Most states have direct-to-consumer (DtC) wine shipping laws, but you must follow the rules of the destination state when doing it. States can have varying requirements and limitations when it comes to licensing, product restrictions, dry communities or even volume limits for how much a given customer can receive. For example, Massachusetts restricts licensees from […]

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VAT Trends of the Gulf Cooperation Council

More than 170 countries throughout the world have implemented a VAT system, and some of the most recent adopters are the Gulf countries. In a bid to diversify economic resources, the Gulf countries have spent the past decade investigating other ways to finance its public services. As a result, in 2016 the GCC (Gulf Cooperation […]

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What the New E-988 Surcharge Means for Tax Compliance

In sales tax, ideas spread fast. In the new E-988 surcharge, we may be seeing the very beginning stages of what ultimately might become a new and expansive tax compliance requirement for sellers of prepaid wireless products and services. It all started in July 2020 when the Federal Communication Commission (FCC) adopted regulations designating the […]

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4 Retail Trends and Their Sales Tax Implications

This blog was updated on January 4, 2023. In virtually every market, your sales tax obligations will grow as your retail operations expand. When creating a brand, it’s crucial to have a flagship product or service that creates a sense of purpose in the market. Once a customer connects with your company, growth naturally can […]

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Continuous Transaction Controls – Focus on the Journey Not the Destination

A current mega-trend in VAT is continuous transaction controls (CTCs), whereby tax administrations increasingly request business transaction data in real-time, often pre-authorising data before a business can progress to the next step in the sales or purchase workflow. When a tax authority introduces CTCs, companies tend to view this as an additional set of requirements […]

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What You Need to Know About the Fintech Ecosystem in Mexico

While many Latin American countries have begun to implement taxation on digital services, Mexico is currently leading the charge and has established a strong track record that other countries are hoping to match. Chile and Ecuador have both recently passed similar legislation with hopes of finding similar success and attracting more global fintech brands.  The […]

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DtC Shipping Essentials: Customer Aggregate Volume Limits (CAVL)

Direct-to-consumer (DtC) shipping has numerous rules and regulations that shippers must adhere to in order to stay compliant. Customer aggregate volume limits (CAVL) discern how much of a certain type of alcohol a single licensee can ship in a given period of time to select individuals within a state. CAVL can seem like a fairly […]

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Expansion to Statutory Schedule Y

As we pass the midpoint of the year, many companies are already looking toward year end, trying to ready themselves for various new reporting requirements. Among those is the expansion to statutory Schedule Y where newly adopted Part 3 will join the family and require disclosures on related party insurer members of a holding company […]

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The Data: Wine DtC Shipments and Off-Premise Retail (June 2021 Special Report)

As we enter into the summer months, wine direct-to-consumer (DtC) shipments are still shifting in response to a tumultuous year. While the industry has largely righted itself, it remains essential to pay attention to marketplace data to keep pulse on that continued change. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide […]

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5 Reasons to Attend Sovos’ Insurance and Regulatory Summit

Sovos is the industry leader in U.S. insurance accounting and reporting, education and software. From our expert level instructors, to our industry best-in-class software and support, to our customized high-quality training, Sovos helps you meet your organizational goals. Being the industry leader requires staying ahead of industry changes in insurance accounting and financial reporting.  To […]

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What is Active/Active Availability?

With ecommerce continuing to rise in popularity, businesses can face unexpected operational challenges when there are increases in sales. But when utilizing the state of Active/Active availability through Sovos, companies know that they are backed by a scalable technological option that provides unparalleled uptime. Competition occurs every day of the year and is no longer […]

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Portuguese Stamp Duty and How Reporting is Changing

The introduction of the new Portuguese Stamp Duty system has arguably been one of the most extensive changes within IPT reporting in 2021 even though the latest reporting system wasn’t accompanied by any changes to the tax rate structure. The new reporting requirements were initially scheduled to start with January 2020 returns. However this was […]

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Multiple Shipping Facilities: Does it Make Sense?

By Milton Cornwell, COO, Copper Peak Logistics — a ShipCompliant Platinum Certified Partner Why should it matter if your direct-to-consumer (DtC) fulfillment partner has multiple shipping facilities? We at Copper Peak have found that the question of multiple shipping facilities is a very misunderstood concept in the wine fulfillment business, especially when it’s called many […]

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Unclaimed Property and Cryptocurrency:  State Reporting Considerations 

In my previous two unclaimed property and cryptocurrency blogs posts titled, “Regulation and the Impact on Digital Assets” and “Due Diligence Requirements and Compliance,” we explored the impact of unclaimed property regulations in the virtual currency world and the what, why, when and how of due diligence compliance.     Now that you have completed your due […]

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Reciprocity in Unclaimed Property

Reciprocity in unclaimed property: why refrain from the practice of reciprocity when it seems so simple? Reciprocity or reciprocal filing came about in 1954 to keep holders from duplicate reporting liability. In other words, if a holder reported unclaimed property to one state (state A for example) and another state (state B) had a better […]

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What Are the DtC Liquor Shipping Laws by State?

Last updated: November 2022 When it comes to direct-to-consumer (DtC) liquor shipping laws by state, distilleries and other spirits producers must adhere to shipping laws of the destination state. It is also important to remember that just because a state allows DtC beer shipping or DtC wine shipping, it does not necessarily mean that it […]

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IPT Location of Risk Changes: Your Questions Answered

As our webinar explored in depth, location of risk rules are complex and constantly evolving. The Sovos compliance team covered many topics on the session, such as sources for identification of the location of risk and location of risk vs location of the policyholder. Despite this deep dive, there were plenty of questions that we […]

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