It’s no secret 2020 was a year of personal and professional disruption, requiring rapid adaptation. So long, office happy hour. Hello Zoom quarantinis! Of course, businesses have been adapting just like each of us. You may have been growing your online sales… perhaps quickly. Maybe you’re selling into states you’ve never done business in before […]
The new India’s e-invoicing expansion has been live since October 2020 and it has been rolled-out in phases. The first phase started in October 2020 with taxpayers with a 500 Cr. rupees threshold or more and the second phase continued in January 2021 covering taxpayers with a threshold of 100 Cr. rupees or more. The […]
Meet the Expert is a series of blogs to share more about the team behind our innovative software and managed services. As a global organisation with tax experts across all regions, our dedicated team are always keeping abreast of the latest regulation changes to ensure our customers stay compliant. What is your role and what […]
The trend of real-time data collection as a tax control mechanism by tax authorities across the world is not much of a surprise now, quite the contrary. One by one and at increasing speed, governments are rolling out local adaptions of Continuous Transaction Controls regimes, more commonly referred to as CTCs. However, new trends are […]
The Supreme Court’s 2018 ruling on South Dakota v. Wayfair, Inc. had a ripple effect across the country on how out-of-state businesses must collect and remit sales tax. The Mississippi sales tax nexus is just one example of how remote sellers and marketplace facilitators need to ensure they remain compliant as regulations are updated. Below […]
By Andrew Adams Andrew Adams is the editor of the Wine Analytics Report and a regular contributor to Wine Business Monthly magazine. Adams grew up in the city of Sonoma, Calif., and graduated from the University of Oregon with a degree in journalism. In addition to working at daily newspapers for more than a decade, Adams worked for […]
The rapid rise of digitisation continues to transform companies’ business processes. Companies have either begun their digital transformation as a result of compulsory mandates or are voluntarily making the change. While digitalisation provides time, cost and workforce efficiencies, it has enabled greater cross-border business. The increasing digitisation of tax has seen companies look to third-party […]
The Maryland Legislature overrode gubernatorial vetoes on two bills that substantially change how Maryland approaches digital tax. The Legislature adopted a novel rule that seeks to tax digital advertising services. Additionally, it expanded Maryland sales tax to include digital equivalents of tangible personal property. The concept of taxing the revenue earned by companies operating in […]
Introduction: Brazil is the world’s ninth largest economy and a country with a well-earned reputation of being perhaps the most complex tax environment on Earth. The sheer number of laws and mandates, the constant change and the risk of non-compliance resulting in significant penalties and fines is omnipresent. In this three-part blog series, we’ll look […]
Introduction: Brazil is the world’s ninth largest economy and a country with a well-earned reputation of being perhaps the most complex tax environment on Earth. The sheer number of laws and mandates, the constant change and the risk of non-compliance resulting in significant penalties and fines is omnipresent. In this three-part blog series, we’ll look […]
Introduction: Brazil is the world’s ninth largest economy and a country with a well-earned reputation of being perhaps the most complex tax environment on Earth. The sheer number of laws and mandates, the constant change and the risk of non-compliance resulting in significant penalties and fines is omnipresent. In this three-part blog series, we’ll look […]
Recently, lawmakers in Tennessee introduced proposed legislation that would prohibit the use of fulfillment houses by direct-to-consumer (DtC) wine shippers for their sales to the state. If passed, this legislation could severely hamper the ability of DtC wine shippers to service the state, cutting off Tennessee consumers from accessing wineries of all sizes. However impactful […]
By: Gary Joseph and Paola Narez In order to maintain compliance with states’ unclaimed property statutes, holders must understand the types of unclaimed properties they are susceptible to generating and the conditions that would begin the running of the dormancy period for each property type (the “dormancy trigger”). Property becomes abandoned or unclaimed when an […]
Overview: The days when suppliers of digital content or services were considered out of reach of local tax authorities because they supplied products and services remotely are quickly fading. The exponential growth that the digital economy has experienced in the last several years has made it impossible to ignore countries looking for new sources of […]
The wine market is in greater flux than ever as producers, retailers and consumers navigate the impacts of a global pandemic. Keeping a pulse on marketplace data has never been so important given these shifting dynamics. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide a much more comprehensive view of the […]
Consumer buying patterns have drastically changed over the past year, affecting the beverage alcohol industry in many ways. The COVID-19 pandemic has shifted what consumers are buying, where, and how often. Sovos ShipCompliant has examined data from our Product Registration Online (PRO) tool to see just how much consumers’ buying patterns have influenced producers’ new […]
The EU is re-considering plans to give its Member States more freedom to determine which goods and services should be subject to reduced rates in their territory. The proposed changes would also allow Member States the opportunity to apply a third reduced rate. Current VAT rate system Currently, the EU VAT Directive gives national governments […]
The basic principle of value added tax (VAT) is that the government gets a percentage of the value that is added at each step of an economic chain, which ends with the consumption of the goods or services by an individual. While VAT is paid by all parties in the chain, including the end customer, […]