Blog

Sovos Acquires Taxweb, Extends Tax Determination Capabilities in World’s Most Challenging Compliance Landscape

Earlier this month Sovos announced its second acquisition of 2020, completing our solution for Brazil with an unparalleled offering that solves tax compliance in the place where it is most challenging to do so.  Too many companies doing business in Brazil have been burdened by managing multiple point solutions for continuous transaction controls (CTCs), tax […]

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The Data: Wine DtC Shipments and Off-Premise Retail (September 2020 Special Report)

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 […]

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Latest Updates: State Direct Reporting Requirements for Form 1099-NEC

With the latest IRS announcement in Publication 1220 stating that information reporting data for the new Form 1099-NEC  will not be included in the Combined Federal/State Filing (CF/SF) program,  numerous states are beginning to publish direct reporting requirements. The Sovos regulatory analysis team will continuously update this page with the latest state requirements for Form […]

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Post-Brexit: UK Postponed Import Accounting for VAT

If you listen carefully, you can hear the tick tock of the Brexit clock growing ever louder. As 31 December looms into view, there’s lots to consider from a VAT point of view. One area business must get up to speed with is the movement of goods between the EU and the UK post-Brexit. Whether […]

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In Focus: Italian Registrations and the Filing Process

As an insurer authorised to write business in Italy, IVASS (Italian Insurers Supervisory Board) have provided you with the appropriate insurance certificate but what else is needed and what happens next? This is just the start of a lengthy and at times demanding journey towards insurance premium tax (IPT) compliance. At the outset, the insurer […]

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The On-premise Challenge of Content Updates for Modern Tax – Part I

Introduction: Should we move our tax engine to the cloud or keep it on-premise? This conversation is taking place in many organizations as they assess their approach to sales tax management. In this three-part series, we’ll explore some of the problems IT is working through to maintain on-premise solutions that may not always be visible […]

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China Adopts Pilot Programme for B2B E-Invoices

In September, the Ningbo Municipal Taxation Bureau (NMTB) of the State Taxation Administration (STA) announced a pilot programme enabling selected taxpayers operating in China to issue VAT special electronic invoices on a voluntary basis. China’s VAT invoices China has two types of VAT invoices:  VAT special invoices and VAT general invoices. The first type may […]

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4 Questions with Commerce7’s Zach Kamphuis About What’s Working in DtC Wine

Commerce7 General Manager Zach Kamphuis has been tracking performance of the direct-to-consumer wine channel during COVID-19. The data shows some unexpected findings about what changes are underway and accelerating during this upheaval. We asked Zach to share some insights into the DtC channel that Commerce7 is keeping an eye on. Methodology notes: Commerce7 has collected […]

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Spirit New Product Registrations Increased 58% From 2019

Consumer buying patterns have drastically changed this year, affecting the beverage alcohol industry in many ways. The pandemic has shifted what consumers are buying, where, and how often. To see how these changes have affected alcohol producers, Sovos ShipCompliant has examined data from our Product Registration Online (PRO) tool to see just how much consumers’ […]

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India – New E-Invoicing Deadlines Announced

After a roller-coaster period, full of changes and updates, India’s e-invoicing reform went live on 1 October this year. This e-invoicing reform is considered to be the second biggest tax development in the country after the introduction of Goods and Services Tax (GTS) in 2017. The Indian authorities chose to go ahead with implementing the […]

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Sovos Regulatory Course Spotlight & Meet Our Educators

With more than 50-years helping professionals succeed in their career, our Sovos Booke regulatory team is known and trusted throughout the insurance industry and is the premier compliance destination for information and emerging trends in tax, regulatory reporting and compliance. Our team of educators share their knowledge and experience to teach the nitty-gritty of insurance […]

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UK Border Controls Post-Brexit – What you Need to Know About Importing Goods

The final date in the Brexit calendar is fast approaching. Whatever the outcome of negotiations, one thing is clear – there’ll be significant changes to VAT in the coming months. In our Brexit and VAT series, we delve into some of the most important issues of the day to bring you clarity and advice as […]

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Who Bears the Cost of Insurance Taxes – the Insurer, or the Insured?

In most cases, the primary responsibility of calculating, reporting and settling insurance premium tax (IPT) remains with the insurance company. But similar to VAT and other indirect taxes, although the insurer acts as the collector and administrator, the economic cost is ultimately borne by the policyholder as the purchaser of the insurance. The cost can’t […]

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Developments in India’s GST Reporting

It’s now over two years since goods and services tax (GST) was implemented in India. And yet GST reporting continues to present challenges for businesses. With the unveiling by the GST Network of new filing enhancements and considering the increased focus on GST compliance with the advent of e-invoicing, a review of periodic GST filing […]

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2020 GCS Intelligent Reporting | Session Recaps

Tuesday, October 6 CEO Keynote: Our Journey to Solve Tax for Good | Andy Hovancik, President & CEO, Sovos GCS Intelligent Reporting kicked off with our Sovos CEO, Andy Hovancik, sharing more on what attendees can expect to get from this year’s event and helping attendees better understand Sovos’ mission to “Solve Tax For Good.” […]

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Goods, Services, and VAT Recovery Post Brexit – What do Businesses Need to Know?

The sands of transition period time are draining away. As we edge ever closer to the final Brexit deadline, there are a raft of VAT related considerations for businesses to attend to. Though uncertainty reigns about the shape of the trading relationship, most of the Brexit scenarios up for debate would render the UK a […]

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A Managed Approach to IPT Compliance

For cross-border insurers, navigating the complex tax landscape across multiple jurisdictions can feel overwhelming. Tax authorities continue to take measures to boost revenues, increase efficiency and reduce fraud.  There is a notable shift towards digital insurance premium tax (IPT) reporting, which places an additional burden on insurers. Ensuring that taxes are filed correctly and are […]

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Greece last-minute change: myDATA now live as pilot for 2020

On the actual go-live date of the Greek myDATA reporting framework, the Greek authorities published a decision introducing last-minute changes. After having evaluated the preparedness of businesses as a result of Covid-19 they decided to provide taxpayers in scope with additional relief by recategorizing the roll-out of myDATA to a voluntary pilot program for 2020. […]

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Indian E-invoicing Reform Now Live With Last-Minute Relief From Government

The Indian e-invoicing mandate is live from today. Even though there was significant public pressure to postpone the 1 October deadline, the set date remains the same and the initial phase has started for taxpayers with an annual aggregate revenue of 500cr. rupees or more during any financial year after 2017. Even though the mandate […]

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