Just like in every jurisdiction, settling tax liabilities compliantly is important to avoid penalties and other consequences. But in Hungary there are additional benefits to a taxpayer if tax liabilities are settled as compliantly as possible. As of 1 January 2016, Hungary introduced the so-called taxpayers’ qualification system. This means the Hungarian Tax Office (HUTA) […]
Prior to the South Dakota v. Wayfair, Inc. decision, Nebraska could not require remote sellers to collect sales tax on sales made to customers in the state. However, there is now a Nebraska economic nexus following the Wayfair decision. The Nebraska Department of Revenue explains that this does not create a new tax, but just […]
Join Filippa Jornstedt as she discusses how e-archiving should be a critical part of your e-invoicing strategy. Listen to her discuss the following questions: How do e-archiving requirements change across borders? What are the problems that come from not having an e-archiving strategy? Are there consequences for non-compliance with e-archiving?
Pennsylvania’s economic nexus rules were impacted by the South Dakota v. Wayfair, Inc. Supreme Court decision. Pennsylvania passed Act 13-2019, which suspended its previous Marketplace Sales laws and determined “that a substantial economic nexus satisfies the Tax Reform Code’s definition of maintaining a place of business, requiring a person to collect and remit Pennsylvania’s sales […]
The Utah economic nexus sales tax was adjusted following the South Dakota v. Wayfair, Inc. Supreme Court decision. Utah now requires remote sellers to register, collect and pay sales tax if, in either the previous or the current calendar year, certain thresholds are met. We have outlined key points in those changes below. Enforcement date: […]
This month, Sovos ShipCompliant will release the annual Direct-to-Consumer (DtC) Wine Shipping Report with our partners Wines Vines Analytics, based on 2020 data. Here is what you need to know about this comprehensive report and some key findings from last year’s report. About the 2021 Direct-to-Consumer Wine Shipping Report The Direct-to-Consumer Wine Shipping Report is […]
Location of Risk is the foundation of any discussion concerning Insurance Premium Tax (IPT). Once you have correctly established the Location of Risk on a policy, you are on the cusp of determining what indirect taxes are due. This blog provides you with an overview on Location of Risk. For a deep dive read our […]
Technology can help businesses and governments measure and mitigate the impact of Covid-19. With further waves and recessions biting, technology offers an unparalleled opportunity for governments and business alike to gain a clearer picture of the current panorama. Digital tax returns and real-time or near-real time reporting offer up-to-date financial insight and many tax authorities […]
Almost every state has updated its sales tax nexus requirements following the South Dakota v. Wayfair, Inc. decision. Wisconsin followed suit with the majority of the country and adopted legislation that was in line with the details of the Wayfair decision. We have outlined the key points to the Wisconsin sales tax nexus below. Enforcement […]
This blog was last updated on July 19, 2024. When it comes to sales tax nexus updates, Wyoming was ahead of the curve. The Cowboy State passed rules requiring remote sellers to collect and remit sales tax even before the Supreme Court’s South Dakota v. Wayfair, Inc. decision. However, Wyoming had to stay implementation of […]
After the South Dakota v. Wayfair, Inc. decision, Vermont expanded sales tax collection requirements to include remote sellers. The Green Mountain State largely followed suit with South Dakota’s requirements outlined in the Supreme Court case, maintaining that a business that meets either a certain monetary or a transactional threshold has an obligation to collect and remit […]
The South Dakota v. Wayfair, Inc. decision pushed many states – including North Dakota – to adjust their economic nexus laws. North Dakota had previously passed a law in 2017 to address remote seller sales tax, but it was contingent on the Wayfair ruling. We have outlined key points on North Dakota’s economic nexus in […]
Sovos recently hosted a webinar with Joe Hillstead, a tax and advisory partner with Squire & Company (Squire). Squire works with Sovos to support the sales tax needs of its clients. In the webinar, Hillstead and Charles Maniace, VP, Regulatory Analysis and Design, Sovos, discussed issues such as: knowing when to partner with a Certified […]
We recently shared news of the European Commission (EC) opening a feedback period concerning an initiative to review VAT rules for financial and insurance services. The feedback period has now ended, and a public consultation period is set for the first quarter of 2021. The consultation will gather stakeholders’ views on the current VAT treatment […]
Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly IPT filings or end of year, can be stressful for insurance tax teams juggling regular workloads alongside the added pressure of ensuring filing is completed accurately and on time. To help, we wanted to offer some guidance on how to navigate deadline season successfully. […]
We recently launched the 12th Edition of our Annual Trends Report. We put a spotlight on current and near-term legal requirements across regions and VAT compliance domains. The report, “VAT Trends: Toward Continuous Transaction Controls” is authored by a team of international tax compliance experts and provides a comprehensive look at the regulatory landscape as […]
On December 22, Congress passed a new COVID relief measure, providing necessary relief and aid to the still reeling economy. Included in the bill was the permanent extension of the Craft Beverage Modernization and Tax Reform Act (CBMTRA). This is extremely welcome to the beverage alcohol industry, as suppliers would have faced a huge hike […]
The European Union’s VAT E-Commerce Package has been delayed until 1 July 2021. Consequently, in the New Year businesses will have to contend with both Brexit related VAT changes and the impact of the One Stop Shop – amounting to two new set of rules for VAT reporting in 2021. Treatment of B2C goods and […]