Blog

The Rise of E-Transport Documents

The number of continuous transaction controls (CTC) jurisdictions worldwide is increasing at a high speed. What’s equally interesting to note is a parallel development: countries that already have CTCs in place are expanding the scope of their CTC regimes by introducing new obligations around related document types, notably for transport documents. We are witnessing a […]

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Eastern Europe: The Rise of CTCs

In a blog post earlier this year, we wrote about how several Eastern European countries have started implementing continuous transaction controls (CTC) to combat tax fraud and reduce the VAT gap. However, it’s been an eventful year with many new developments in the region, so let’s take a closer look at some of the changes on the […]

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Understanding IOSS – EU E-Commerce VAT Package FAQs

The EU e-commerce VAT package was introduced in July 2021. The new schemes, One Stop Shop (OSS) and Import One Stop Shop (IOSS) bring significant changes to VAT treatment and reporting mechanisms for sales to private individuals in the EU. In the last of our series of FAQ blogs, we answer some of the more […]

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New European Union Reduced VAT Rates Approved

The EU Council approved a proposed directive to amend rules governing reduced VAT rates at the ECOFIN meeting held on 7 December 2021. The new rules grant EU Member States more options and flexibility in determining the reduced VAT rates to apply to certain goods and services through amendments to the EU VAT Directive. New […]

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How to Manage VAT Changes

In our previous blog, we completed the compliance cycle with tax authority audits. However, that’s not the end of the challenges businesses face in remaining compliant in the countries where they have VAT obligations. VAT rules and regulations change as do a business’s supply chains – these need to be carefully reviewed and appropriate action […]

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Easing the Stress of IPT Filings

Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly filing or end of year, can be stressful for insurance tax teams. Juggling regular workloads alongside the added pressure of ensuring filings are completed accurately and on time are often challenging. This blog provides some helpful guidance on how to navigate deadline season successfully. […]

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How Union One Stop Shop Impacts Other Declarations

The EU e-Commerce VAT Package is nearly six months old and businesses should have submitted their first Union One Stop Shop (OSS) return by the end of October 2021. Union OSS provides a welcome simplification to the requirement to be registered for VAT in multiple Member States when making intra-EU B2C supplies of goods and […]

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Poland: Insurance Ombudsman Contribution

Update: 12 January 2024 by Edit Buliczka Upcoming Submission Deadline for Polish Claims Report The Polish Financial Ombudsman Office (Rzecznik Finansowy), like other regulatory bodies such as the Italian IVASS, requires insurance companies to submit various reports about their activities. One of these is the Claims Report. According to the Act on the Consideration of […]

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Poland’s E-Invoicing Reform: Overview of KSeF System

Since earlier this year, when the first draft continuous transaction controls (CTC) legislation was published in Poland, there’s been good progress in the development of the CTC framework and system, the Krajowy System e-Faktur (KSeF). After several reiterations, the CTC legislation was finally adopted and published on the Official Gazette on 18 November 2021. Implementing […]

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European Insurance Premium Tax Reporting Requirements

In recent years, tax transparency has become a vital issue. It is becoming increasingly evident that tax authorities are adapting to online submissions for further transparency and accuracy in collecting and reporting of taxes and requesting more detailed policy information. There is very little consistency across European territories regarding reporting; differences in tax rates, submission […]

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Union OSS – Don’t be Late Registering for the EU VAT Scheme

  E-commerce in the EU saw a VAT revolution on 1 July 2021, introducing the e-commerce VAT package. One of the package’s aims is to ensure that VAT is accounted for in the Member State where consumption takes place for B2C cross-border supplies of goods – this equates to where the goods are delivered. There […]

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How to Prepare for a VAT Audit

In our previous blog, we looked at the challenges that businesses face in submitting VAT and other declarations on an ongoing basis. However, the compliance cycle doesn’t end there as tax authorities will carry out audits for a variety of reasons to validate declarations. Why do tax authorities carry out audits? When VAT returns consisted […]

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Norway – 2022 Digital VAT Return Coming Soon

As we inch closer to the implementation date of 1 January 2022 for Norway’s new digitized VAT return, let’s take a second look at the details. Norway announced its intentions to introduce a new digital VAT return in late 2020, with an intended launch date of 1 January 2022. With this update comes the removal […]

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France: Two New Declarations to Replace the DEB

As of 1 January 2022, the Declaration of Exchange Goods (DEB) will be replaced by two new declarations, a statistical survey and a VAT summary statement. Current requirements Currently, taxpayers must complete the DEB, which is a single declaration that merges a statistical section and a tax section. Taxpayers must fill out both sections of […]

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Spain: New Timelines for the Adoption of TicketBAI in the Basque Country

The Provincial Council of the Gipuzkoa region in the Basque Country recently published Foral Order 608/2021. This establishes the schedule for adopting the TicketBAI (TBAI) obligation in that region. This local regulation also exempts certain natural persons of an age close to retirement from its compliance. What is TicketBai? TicketBAI is an initiative between the […]

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IPT Compliance in Denmark

Continuing our blog series looking at specific IPT-related tax acts around the world, we head to Denmark. This insight is shared in Sovos’ Guide on IPT Compliance. Written by our team of IPT and regulatory specialists, this guide is packed full of insight to navigate the ever-changing regulatory landscape. Non-life insurance tax registration and reporting […]

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Your Questions Answered: Saudi Arabia E-Invoicing Mandate

In our recent webinar, the team at Sovos discussed the upcoming Saudi Arabia e-invoicing mandate. The webinar covered the finalised rules for Phase 1 of the e-invoicing regime which is due to go live on 4 December 2021 as well as updates to phase 2. There were plenty of questions we didn’t have time to […]

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Analysis: The Import One Stop Shop (IOSS) Four Months On

The European Commission (EC) introduced the Import One Stop Shop (IOSS) on 1 July 2021 to simplify the accounting for VAT on goods imported into the EU with an intrinsic value below EUR 150. It is not compulsory, and there are alternative methods of accounting for import VAT on such imports. As with any new […]

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