Blog

Possible Postponement in Sight for Italy e-Invoicing Mandate

The entrance into force of the mandatory e-invoicing regime in Italy as of 1 January 2019 has been widely debated this year. Many applaud the potential of the reform when it comes to closing or lowering the Italian VAT gap, but smaller companies have voiced concerns about the complexity of the new framework and are […]

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Why the Creation of a “United Nations of Digital Tax” Is a Game-Changer for Digital Business Transformation

The event largely went unnoticed in the general press, and even the business and IT press hardly paid attention. Yet the proceedings that unfolded in October 2018, when more than 80 of the world’s tax administrations came together at a Tax Summit in Lisbon, would be major financial headline material if more people understood their […]

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Why the Creation of a “United Nations of Digital Tax” Is a Game-Changer for Digital Business Transformation

The event largely went unnoticed in the general press, and even the business and IT press hardly paid attention. Yet the proceedings that unfolded in October 2018, when more than 80 of the world’s tax administrations came together at a Tax Summit in Lisbon, would be major financial headline material if more people understood their […]

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10 Challenges of Native SAP Tax Compliance – Part Three

In my last blog, I discussed three additional challenges of native SAP tax management for growing companies facing multifaceted indirect tax requirements and continuous compliance mandates. These ranged from sales and use tax nexus rules to VAT requirements and filings. Additional challenges your IT, finance and tax teams face from native ERP tax management due […]

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Italy’s E-invoicing Reform Is Far-Reaching and Affects All B2C Transactions

Few people will have failed to notice the extent of the ongoing VAT reform in Italy. From 1 January 2019, it will be mandatory for all domestic invoices to be issued in electronic form and to have been cleared through the state-operated SDI platform. From this date, any invoices that aren’t created in the regulated […]

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Why the New Process for Cancelling E-Invoices in Mexico Matters

The changes involved in the new process for cancelling electronic invoices in Mexico are not trivial. There are major ramifications for both accounts payable (AP) and accounts receivable (AR) operations. The new mandate, which fixes a major gap in Mexico’s e-invoicing policy, is aimed at enabling the SAT, the Mexican tax authority, to recover money […]

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10 Challenges of Native SAP Tax Compliance – Part Two

In my last blog, I discussed the first three challenges of native SAP tax compliance for growing companies facing multifaceted indirect tax requirements and continuous compliance mandates. These ranged from regional disparate ERP systems and custom workflows, shortsighted regulatory updates and ERP administration. Additional challenges your IT, finance and tax teams face are discussed below. […]

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Why a New OSE Mandate in Peru Could Leave Companies Searching for Partners

Peru is giving large companies just five months to comply with a requirement to partner with a certified Operator of Electronic Services (OSE) for clearing e-invoices, a mandate that will require some companies to seek service providers before the deadline. As of March 1, 2019, all taxpayers considered a national or regional large company by […]

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November 1 2018: The Debut Day of the New CFDI Cancelation Process in Mexico has Finally Arrived. Are you Ready?

As previously announced by Sovos and after several delays in the implementation of the new CFDI cancelation process, the final deadline has arrived. The Mexican tax authority (SAT) has kept its commitment to not delay the implementation of the new CFDI cancelation process, as advised in their press release. These changes are designed to eliminate […]

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10 Challenges of Native SAP Tax Compliance – Part One

As tax, finance and IT teams plan to support the future growth of their businesses, many are realizing the challenges of managing customized ERP-centric tax compliance. A recent HCL-sponsored global study of large enterprises (over $1 billion in annual revenue) found that on average respondents had five separate instances of SAP operating across their businesses. […]

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It’s official: Most European practitioners favour LatAm e-invoicing model

At the annual European Exchange Summit held earlier this month in Berlin, the organizers surveyed participants on several issues relevant to e-invoicing. One question was of particular interest: “Should clearance models or mandatory e-invoicing become the norm in the EU?” The Exchange Summit is an industry event attended by experts and practitioners from around the […]

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Italy Postpones Some Electronic Invoicing Penalties But Mandate Rollout Continues

Companies struggling to meet Italy’s electronic invoicing deadline of Jan. 1 will get some relief from financial penalties if they can’t immediately issue invoices at the moment of supply, but it seems the Italian Tax Authority will not delay rolling out the system. The government had stated that invoices that did not comply with the […]

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Mandatory e-invoicing in Italy: What to expect on 1 January 2019

Is a potential postponement in sight? With Italy’s e-invoicing mandate deadline drawing ever closer, there is growing speculation that a postponement may be in sight.  The rumours are mostly based on the fact that some commercial associations are doing their best to convince the government to extend the deadline arguing that small and medium sized […]

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10 Reasons IT Leaders are Prioritizing SAP Tax Compliance for S/4HANA

Tax compliance is moving up the priority list as companies migrate from ECC to S/4HANA and S/4HANA Cloud. Multinationals recognize the inefficiencies of SAP-native compliance as government mandates redefine sales and use tax, e-invoicing, and VAT compliance and reporting requirements. Financial systems that were originally implemented to help manage growth are now hindering it. IT […]

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Sovos Expert to Discuss VAT Controls on Business Transactions at International Conference

In October, Christiaan van der Valk, Sovos vice president of strategy, will speak about the emergence of real-time VAT controls on business transactions at the CIAT/IOTA Technical Conference in Lisbon. The presentation will focus on lessons learned from ongoing work on these topics in groups at the International Chamber of Commerce (ICC) and the European […]

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Will Tax Compliance Drive Digital Transformation? – SAP Expert John Appleby Weighs In

It’s clear that company leaders understand that digital transformation is key for their very survival in a world of constant disruption, but only a small percentage actually have finished a company-wide transformation – opening the door to potential problems from lost customers to tax compliance issues. An SAP survey finds that 84% of 3,000 executives […]

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Saudi Arabia: From no VAT to promoting a centralised e-invoicing solution – what’s next?

Following the introduction of the brand-new Value Added Tax (VAT) regime in January 2018, the Kingdom of Saudi Arabia has also started promoting a national electronic invoicing platform called ESAL. This is a joint effort between the Saudi Arabian Monetary Authority (SAMA) and the General Authority of Zakat and Tax (GAZT). These measures are in […]

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Sovos Colombia eInvoicing Solution Earns Powered by SAP NetWeaver® Certification

The Sovos eInvoicing solution for Colombia has achieved SAP certification as powered by the SAP NetWeaver® technology platform. The solution integrates with SAP NetWeaver and safeguards companies doing business in Colombia by automating real-time electronic invoicing processes as required by Colombian mandates. All companies doing business in Colombia must adopt electronic invoicing by Jan. 1, […]

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