If you are trying to understand how indirect/transaction taxes apply in Hawaii the first thing you need to know is that Hawaii does not have a sales tax, at least not in the traditional sense. Rather, the state imposes a General Excise Tax (GET) levied on the person conducting the business on the island and […]
Latin American governments aren’t introducing and expanding e-invoicing mandates at a rapid rate simply to create more data. These invoices are used to support and verify tax deductions, ensuring that the government receives an accurate (and the maximum) amount of tax revenue. Remember, mandated e-invoicing covers all sales and in-country purchased via XML, so the […]
Virginia holds three sales tax holidays annually. Until this year, the Hurricane Preparedness Holiday took place in May, the School Supplies and Clothing holiday took place in August and the Energy Star and WaterSense holiday took place in October. There has been a lot of debate surrounding sales tax holidays across the country over the […]
Latin American compliance is a challenge for all businesses, especially those operating in multiple countries who are attempting to manage these processes with internal staff and on premise software solutions. From significant IT investments, internal support needs, and the cost of potential business disruptions and fines, the inability to achieve or maintain compliance can cost […]
Funding Wireless Enhanced 9-1-1 in the U.S. through Fees Today it is a fact of life in the U.S. that most adults (and many children) own and carry wireless phones. Based on industry surveys, 4 out of 10 adults and roughly 45% of American children live in wireless-only households. With this in mind, it is […]
As e-invoicing mandates continue to spread throughout Latin America, it’s becoming increasingly important for companies to have a regional compliance partner that proactively monitors and responds to the ever-changing compliance landscape. As we explored previously, three countries are beginning to enforce compliance measures this year: Peru, Uruguay and Ecuador. While the legislation in each country […]
Invoiceware will be participating in an upcoming Q&A with SAP Insider on April 16th. This is an opportunity to ask questions about the impact Latin America E-mandates to your business. Topic: How Will Latin American E-Mandates Affect Your SAP Implementation in 2015? Q&A Panelist: steve.sprague Date: Thursday, April 16 Time: 12:30pm EDT / 9:30am PDT […]
FATCA Intergovernmental Agreements (IGAs) The Foreign Account Tax Compliance Act (FATCA) is a US law that requires foreign financial institutions and some other entities around the world to report to the Internal Revenue Service on accounts held by US Persons, so that such amounts may be properly taxed in accordance with the Internal Revenue Code. […]
E-invoicing mandates continue to expand throughout Latin America. Just a year ago, only three countries in the region enforced compliance mandates. This year, seven countries have enacted e-invoicing legislation, with more set to join the movement in the near future.
Puerto Rico recently published (PR) DA 15-05 regarding the filing of Declaration of Imports in PR for Non-Bonded Importers. This information is particularly important for registrants that are not bonded and who have not been filing their Import Declaration via the current PICO system. This new Ruling 15-05 essentially provides that the “Temporary” Declaration on […]
Reduce Support Costs, Avoid Fines and Focus on Business Innovation We’ve recently explored the top 5 reasons why companies are switching off on premise software solutions to cloud providers, more specifically hybrid cloud. This model: Configures to your unique SAP ERP and eliminates multiple upgrades Eliminates failure points and the need for constant monitors Provides […]
Expanding Paint Stewardship in the U.S. and the imposition of the PaintCare and other Stewardship Fees Product stewardship is a concept where those involved in the production, sale, and purchase of a product take up responsibility to reduce the environmental, health, and safety impact that may be associated with its usage and disposal. Stewardship organizations […]
One Solution Provides Multi-Country Compliance Regulations throughout Latin America are inconsistent and frequently changing. Brazil’s new requirements under NFe version 3.1 look vastly different than what’s required in Chile, Uruguay, Argentina and elsewhere throughout the region. Most on-premise solutions cannot support the full spectrum of these requirements and the processes that must be included to […]
Hybrid Cloud Model Streamlines Compliance Process and Frees Finance and Technical Staff On-premise compliance solutions require multiple staff positions to maintain internally, taking away valuable resources that could be focused on business innovation. Effective compliance requires input from sales and distribution, materials management, FICO analysts, business users, middleware architects, subject matter experts and ABAP developers. […]
District Court Injunction against Colorado Allowed to Stand On March 3, 2015 the United States Supreme Court announced its decision in Direct Marketing Association v. Brohl (575 U.S. (2015). In this case, a trade association for retailers challenged legislation enacted by the state of Colorado in 2010 that required sellers that do not have a […]
With Peru’s latest round of electronic invoicing mandates set to take effect in only a few short months, it is important to understand that your solution selection criteria should include more than e-invoice connectivity. If you don’t understand how you will meet the certification process as well as how you will manage issues related to […]
Note: This blog has been updated as of April 3, 2015 with important information regarding Mexico eContabilidad. Once again the Mexico SAT announced a delay on the initial filings for Contabilidad Electronica until April 30th (Chart of Accounts and Trial Balances) and September 3rd for Polizas (Journal Entries). Since there have been lots of questions […]
*** Update on Puerto Rico Tax Reform Measures, April 30, 2015 ** The latest tax reform measure in Puerto Rico, known as the CoBYS (Tax on Goods and Services) failed to pass the House of Representatives—the first step needed to enact the law. CoBYS replaced the previously proposed VAT measure (known as IVA in PR) […]