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 […]
Historically, the three-tier and direct-to-consumer (DtC) channels for beverage alcohol have operated independently, sometimes even viewing the other as competition. But in reality, there are many opportunities for a symbiotic relationship between these business units. For beverage alcohol producers that depend on both, a collaborative approach is imperative. DtC and three-tier—what’s the difference? First, some […]
New bookkeeping law – Lov om bogføring On 19 May 2022, the Danish Parliament passed a new bookkeeping law – Lov om bogføring – introducing requirements for companies to use a digital bookkeeping system. Section 16 of the Law requires many Danish companies to use a digital bookkeeping system and make their bookings electronically. The final […]
Editor’s note: This blog was updated on November 27, 2023 Update: Since this content was published, the IRS released additional guidance further delaying the implementation of the lowered Form 1099-K changes to the reporting threshold for 2023 returns. Read our recent blog post for additional details about the latest Form 1099-K reporting threshold requirements. As […]
By Robert M. Tobiassen, President of the National Association of Beverage Importers, Inc. (NABI) QR codes are not new to beverage alcohol labeling, but they’re seeing a rise in popularity as consumers become savvier to the technology. Once bars are restaurants reopened in the summer of 2022, QR codes became the virtual menu tool of […]
It’s a good year to be an IT leader. After far too many years of the phrase “do more with less” being the mantra of most organizations when it came to technology spending, things are finally looking up. According to research firm Gartner, IT spending will reach an estimated $4.5 trillion in 2022. This represents […]
Everywhere you look these days, it feels like there’s a new ready-to-drink (RTD) cocktail on the market. These products have taken the beverage alcohol market by storm over the last few years, with seemingly everyone and their brewer now making their own margarita in a can. Consumers are clearly happy about this—RTD cocktails are now […]
It might not quite be THAT red phone that’s ringing, but rest assured, management is currently dealing with a serious problem, and they are looking at IT to solve it for them. There are two things that make Boards and C-Suites nervous beyond all else. Risks that have the potential to impact the bottom line […]
Invoicing in Chile is changing on 1 December 2022. This is when resolution 66 from the Chile Internal Revenue Service comes into force. This new regulation concerns organisations with foreign currency operations. Banks, stockbrokers, exchange houses and financial institutions are affected. Other intermediaries or entities that carry out foreign currency purchase and sale operations themselves […]
A recent preliminary ruling request to the European Court of Justice, Case C-664/21, NEC PLUS ULTRA COSMETICS, has re-emphasised the importance of collecting documentation when carrying out a zero-rated supply in the EU. The 2017 NEC PLUS ULTRA COSMETICS case involved a company established in Switzerland selling cosmetics products under the Ex Works clause from […]
What is the current situation for insurance for businesses? Until the Covid-19 pandemic in March 2020, the view was that businesses provide insurance such as Employers’ Liability during normal day-to-day operations. Employers’ Liability insurance is compulsory, protecting a company’s employees and workplace visitors for accidents where a claim needs to be settled. Following the Covid-19 […]
Sales tax nexus is not static. As your company grows, expands and evolves, your nexus footprint will likely change as well. All too often, companies will not realize the compliance impact of those changes until they receive an unfriendly inquiry from a sales tax auditor. As tax compliance professionals emerge from the barrage of requirements […]
Imagine this scenario. Your business partner changes the rules on you mid-stream and your ability to conduct business with them is now contingent on changing your entire reporting structure to meet their new demands. Oh yeah, I should also mention the time frame to meet these demands is extremely tight and if you don’t, you […]