The European Commission’s “VAT in the Digital Age” proposal brings significant modifications to the VAT treatment of the platform economy related to the operators in the short-term accommodation (max. of 45 days) and passenger transport services. VAT treatment of the platform economy It is worth mentioning that the ‘VAT treatment of the platform economy’ only […]
States have recently announced an uptick in age verification checks, including Massachusetts, which will be focusing on direct-to-consumer (DtC) wine shippers through the end of the year. At the same time, wine, beer and spirits drinkers are more willing than ever to receive their favorite beverages via DtC shipping, which makes now a great time to […]
Editor’s note: This blog was updated on December 28, 2022 Update: Since this content was published, the IRS released guidance that the implementation of the reduced $600 threshold for 1099-K reporting will be delayed until tax year 2023. As a result, the federal threshold for the 1099-K form reporting for tax year 2022 will remain unchanged […]
Sovos ShipCompliant recently released the first annual Direct-to-Consumer Spirits Shipping Report, in partnership with the American Craft Spirits Association (ACSA). The report features in-depth analysis of the craft spirits direct-to-consumer (DtC) channel through a consumer poll, as well as ACSA’s perspective on how the market can continue to make strides. Quick hits from the 2022 […]
Electronic invoicing in Poland via KSeF has undergone a long journey. Providing new expectations for B2B and B2G transactions alike, it is vital for taxpayers to understand what’s to come – though that can be tough when rules and regulations change frequently. This blog provides a comprehensive timeline of Poland’s advancement towards its e-invoicing mandate, […]
Early signs as to what’s ahead To no one’s surprise, 2022 was a busy year in the world of sales tax. Along with the usual barrage of rate, rule and form changes, many of which will become effective on January 1, 2023, we began to witness what is likely the beginning of a shift in […]
Editor’s note: This blog was updated on November 27, 2023 Update: Since this content was published, the IRS released additional guidance further delaying and making changes to the implementation of the lowered Form 1099-K reporting threshold for 2023 returns. Read our recent blog post for additional details about the latest Form 1099-K reporting threshold requirements. […]
The European Commission has announced its long-awaited proposal for legislative changes in relation to the VAT in the Digital Age (ViDA) initiative. This is one of the most important developments in the history of European VAT, and affects not only European businesses, but also non-EU companies whose businesses trade with the EU. This guide about VAT […]
With the entry into force of resolutions SAT-DSI-1240-2021 and SAT-DSI-1350-2022, most taxpayers in the country are now obliged to issue electronic invoices under the Online Electronic Invoice System (Regimen de Factura Electronica en Linea – FEL). The latest taxpayers to join the mandatory electronic billing system are include taxpayers incorporated into the General Value Added […]
Picking the right sales tax solution is not always apparent. Federal, state and local regulations can quickly change. Businesses evolve, whether through introducing new products and services or by expanding into new jurisdictions. Organizations must consider internal processes as well, ensuring that a sales tax solution helps–not hinders–daily operations. It’s also important to independently evaluate […]
The results are in—Coloradoans will soon be able to purchase wine in more stores than ever before. Proposition 125 allows for “grocery stores, convenience stores and other businesses currently licensed to sell beer to also sell wine.” This follows the expansion of full-strength beer sales in grocery stores, which took effect January 1, 2019. Any […]
Delaware State Rep. Mike Smith (R-Pike Creek Valley) plans to introduce legislation that will open up direct-to-consumer (DtC) wine shipping to Delawareans. Currently, state residents can legally purchase wine through the three-tier system but are not able to purchase directly from a winery and have the product shipped to their front door. Smith’s bill would […]
Microsoft users have been pushing toward the shift to the cloud and modernizing their IT strategy. However, it is essential they do not overlook their sales tax strategy as a factor in these decisions. As businesses grow and tax regulations become more complex, it will be beneficial to keep sales tax compliance manageable. Sovos recently […]
As 2022 draws to a close, it’s time to look back and reflect on the year that was. For beverage alcohol regulation, 2022 saw an interesting mix of big changes on one hand and stagnation on the other. On the direct-to-consumer (DtC) shipping front, there was little overall change, at least compared to the admittedly […]
There are many technology vendors out there promising you the world. With a technology vendor partnership, those miracle solutions to all your business needs are available at your fingertips. However, as with most things in life, it’s important to ensure you check off all the important boxes before making a purchasing decision. When you’re shopping […]
The Great Resignation may technically be behind us, but the ripple effects are far from being complete. More than ever people are pursuing a side gig in addition to a job (full- or part-time). In some cases it’s out of economic necessity, while in others it can be for a lifestyle choice or based on […]
Problems encountered with Fire Brigade Tax rate increase in Slovenia Slovenia’s Fire Brigade Tax (FBT) has changed. The rate increased from 5% to 9%. This came into effect on 1 October 2022. The first submission deadline followed on 15 November 2022. Unfortunately, the transition has been plagued by problems. We discuss some issues and how […]
African countries are following e-invoicing and continuous transaction control trends implemented rapidly by many countries around the globe. Each country in the continent is developing their variation of a tax digitization system. This means there is currently no standardisation with compliance requirements differing in each jurisdiction. A common transaction reporting feature among African countries is […]