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 […]
Since the Covid-19 outbreak, the insurance industry has been put under the spotlight in France, sometimes being the scapegoat for failing to compensate its insureds. Exceptional tax, insurance premiums frozen, contribution to Solidarity Funds and schemes are all examples of the measures taken. In this blog we detail the different steps taken by local authorities […]
To help businesses understand the impact of Brexit, we’ve cover the essential considerations for supply chain planning in this blog. Goods and services in 2021 The treatment of goods moving between Great Britain and the EU will change significantly from 1 January 2021. Exports and imports will apply to GB-EU trade, replacing the concept of […]
Are you ready to submit and file a compliant sales tax return? Think you already know everything there is to know about the process? Whether you are a veteran to sales tax filings or are looking to file for your business for the first time, it never hurts to double check that everything is in […]
The Polish Ministry of Finance announced a timeline for its plans to introduce a Continuous Transaction Controls (CTC) scheme, with a roll-out to start in a year’s time from now. Earlier this year, ministry officials described their intention to introduce an Italian-style clearance e-invoicing system, however since then, not much has been announced in terms […]
Today we will be concluding our preview of the upcoming release of the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report. Hear from Christiaan Van der Valk as he jumps back in: 1. In your opinion, when is the right time for businesses considering major platform upgrades to involve tax? What […]
Today we will be previewing the upcoming release of the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report. In this episode of the Sovos Expert Series, Harriet Vivian sits down with Sovos’ VP of Strategy, Christiaan Van Der Valk as he digs into what the Trends Report will look like this […]
This blog was updated on January 11, 2023. Unclaimed property compliance for energy, oil and gas companies can be an especially complex process due to various industry-specific nuances and intricacies. Exclusive property types, such as net revenue interest and royalty payments, title disputes, and operationally intensive state requirements all contribute to the uniqueness of the […]
Taxpayers have gone through an eventful year in India. The e-invoicing mandate, initially planned to go live in April 2020, was delayed until October. A couple of months before the October roll-out, the scope of the mandate was reduced by lowering the threshold which left taxpayers below 500 Cr rupees outside of the first go-live […]
Annual reconciliations can be a critical aspect for businesses as they work to achieve tax compliance. They are used to resolve all payments made to the state through the year and make any necessary corrections. For example, a company may have already filed its tax returns, but discovers there is a backdated transaction for one […]
In April, 2020, Kentucky passed HB 415, which established new rules permitting the direct-to-consumer (DtC) shipping of alcoholic beverages. Early on December 14, 2020, the Kentucky legislature’s joint committee on Licensing, Occupations, and Administration Regulations voted to approve new regulations enforcing HB 415 making those laws effective and finally allowing DtC shipping to begin in […]
Black Friday and Cyber Monday 2020 were record-breaking shopping days, further showing that e-commerce is not “a phase” and will likely continue to be a central aspect to daily operations for businesses. Black Friday online sales increased by nearly 22% to $9 billion, while Cyber Monday sales increased nearly 15% from 2019 – $10.8 billion […]
How do I know if the new economic nexus sales tax rules in Illinois apply to my business? Illinois recently implemented new sales tax rules for businesses that have economic nexus in the state. These rules are broadly applicable to all remote sellers, and so if any direct-to-consumer (DtC) wine shipper meets the general economic […]
This blog was updated on February 10, 2023 With the introduction of Form 1099-NEC in 2020, the way filers report non-employee compensation and use Form 1099-MISC has changed. Below are the top 5 things to keep in mind when reporting Form 1099-NEC 1. Remember Form 1099-MISC changes: Because the IRS also adjusted the layout of […]
Following our last article published on 25 November 2020, HMRC has recently updated its policy paper outlining the VAT accounting processes that will apply to goods moving between Great Britain and Northern Ireland 1 January 2021. The latest update includes changes made to the policy paper on the following topics: VAT retail exports; Personal exports […]
With their Fall (2020) Economic Statement, Canada appears ready to take some important steps in joining much of the rest of the world in recognizing the dramatic shift in the fundamentals of indirect tax compliance by enacting rules effective July 1, 2021 which would: Abandon their traditional “carrying on business” test for determining whether a […]
The new stamp duty requirements in Portugal will come into effect in February 2021, having been previously delayed. The delay has given insurers extra time to prepare for the upcoming changes but even with that additional buffer, many may still be unsure of the requirements and what is expected of them. The new system will […]
So, you’re thinking about direct-to-consumer (DtC) beer shipping. But first, what exactly do we mean when we talk about DtC beer shipping? Well, traditionally, alcohol is sold by a supplier to distributors who then sell it to retailers who then sell it to consumers. But with DtC or direct beer shipping, consumers place an order […]