Turkey’s e-transformation journey, which started in 2010, became more systematic in 2012. This process first launched with the introduction of e-ledgers on 1 Jan 2012 and has since reached a much wider scope for e-documents. The Turkish Revenue Administration (TRA), the leader of the e-transformation process, has played an important role in encouraging companies to […]
There is perhaps nothing more important for anyone involved in the beverage alcohol market to do than to prevent sales to minors. It is illegal in every state to sell alcohol to anyone under the age of 21, and that restriction applies to every sale, regardless of where or how the sale occurs. Even accidentally […]
This blog was updated on April 6, 2023. In today’s rapidly evolving and technology-driven regulatory environment, businesses and governments have had to change their operations to stay profitable and compliant. Everything from cloud computing to machine learning and AI to the Internet of Things (IoT) are opening new revenue streams and altering supply chain models. […]
Update: 23 March 2023 by Dilara İnal Japan’s Qualified Invoice System Roll-out Approaches Japan is moving closer to the roll-out of its Qualified Invoice System (QIS), which will happen in October 2023. Under QIS rules, taxpayers will only be eligible for input tax credit after being issued a qualified invoice. However, exceptions exist where taxpayers […]
In this blog, we provide an insight into continuous transaction controls (CTCs) and the terminology often associated with them. With growing VAT gaps the world over, more tax authorities are introducing increasingly stringent controls. Their aim is to increase efficiency, prevent fraud and increase revenue. One of the ways governments can gain greater insight into […]
60-Day Response Period Extended for February VDA Recipients The deadline to respond to Delaware unclaimed property VDA invitations mailed in February 2021 was extended to July 31, 2021. Per an announcement posted to the DE Secretary of State’s website, reminder letters were sent the week of June 14, 2021 to holders that received, but have […]
Since 1993, supplies performed between Italy and San Marino have been accompanied by a set of customs obligations. These include the submission of paperwork to both countries’ tax authorities. After the introduction of the Italian e-invoicing mandate in 2019, Italy and San Marino started negotiations to expand the use of e-invoices in cross-border transactions between […]
Whether your business is looking to expand into more states (or countries), adding e-commerce options or exploring any number of other digital needs, integrating a tax engine with your ERP can be essential to ensuring positive growth. Organizations can see reduced maintenance costs and lessen the burden on internal teams, while also experiencing increased accuracy […]
Following recent acquisitions in Latin America, Sovos announced today we are establishing operations in Portugal with the acquisitions of PetaPilot and Saphety. The two companies both count tax authorities and businesses as customers, and they both solve challenges related to mandates that are accelerating across Europe and beyond, as VAT and business-to-government (B2G) reporting regulations […]
Direct-to-consumer (DtC) beer shipping laws require abiding by the rules of the destination state. While those rules can be similar from one state to the next, there are always key differences between them that producers and other shippers should know. Two states can each allow DtC beer shipping but may have varying requirements and limitations […]
With over 1.5 million entities incorporated in Delaware and only 20% of companies in compliance with unclaimed property laws, any legislative changes Delaware makes causes a stir in the industry. Delaware recently passed two bills with significant impact on unclaimed property in the state, DE S 103 and DE S 104. Our dedicated unclaimed property […]
France’s 2023 mandate will require businesses to issue invoices electronically for domestic transactions with taxable persons and to obtain ‘clearance’ on most invoices before their issue. Other transactions, such as cross-border and B2C, will be reported to the tax authority in the “normal” way. This will be a major undertaking for affected companies and although […]
Treatment of fire charges is tricky in almost all jurisdictions. Fire coverage can vary from as high as 100% to 20%. No-one would dispute that the most complex fire charge treatment is in Spain. In Portugal, whilst the rules are less complex, they have a unique reporting system for how the policies covering fire must […]
In the digital age we live in, speed is essential. For companies wanting to compete on a global scale, acting fast is just as important as having the digital solutions to advance. Taking into consideration the effect of digitalization on globalization, businesses are outsourcing processes to specialists to keep pace and focusing on their core […]
As direct-to-consumer (DtC) shipping of alcohol has become an increasingly valuable market for suppliers and manufacturers over the last many years, regulatory restrictions in states have hampered the ability of certain parties to enjoy the same benefits. However, with the passage of HB 110 in Ohio, recently signed into law by Governor Mike DeWine, a […]
Sales and use tax compliance is quickly becoming a critical function for numerous types of businesses. When it comes to your tax and finance team, each employee should of course have basic knowledge of tax details, but what other areas are truly essential? How can you ensure that your finance team is ready to help […]
When it comes to direct-to-consumer (DtC) shipping of alcohol, one of the first things producers or other DtC shippers need to consider is becoming properly licensed. Almost every state that permits DtC shipping to its residents requires the shipper to hold a license, so becoming properly licensed is an essential first step toward DtC shipping […]
On 28 June 2021 the Greek Ministry of Finance announced that the myDATA mandate has been postponed to autumn 2021. This is due to the adverse financial impact of the pandemic on businesses and the country. The phased roll-out begins in September 2021 and is scheduled to be completed in November 2021. Retroactive reporting of […]