Blog

Poland’s Next Step After SAF-T – Centralized E-Invoice

The expansion of Poland’s new SAF-T report (JPK) barely took effect before Poland is steaming ahead with a more far reaching plan.  It aims to introduce a centralized e-invoice system via an exchange platform in 2022. In an interview published on the Polish Ministry of Finance webpage, the Minister of Finance says that implementing mandatory […]

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BevAlc Roundup | Utah to Allow “Wine Club” Sales, Coronavirus Closures, and the SVB DTC Survey is Open

The coronavirus has moved from being a panic to a pandemic over the last few weeks, leading to mass closures and social distancing, and capturing all of our attention. The news is replete with stories of cancelled events and ways to cope with the reality of a modern plague. Heavily dependent on tourism and entertainment, […]

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INDIA: E-Invoicing Reform Postponed Until 1 October 2020

With roughly two weeks to go until the first mandatory phase of the Indian e-invoicing reform was set to go live, the GST Council has now decided to slam the breaks and halt the go-live. Or at least, bring it to a significant temporary standstill of 6 months, until 1 October 2020. Following a long […]

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Italy Publishes New Specifications for the FatturaPA

Anyone predicting Italy’s clearance model e-invoicing system,  FatturaPA, would undergo further reform would be right. Agenzia delle Entrate – AdE, the Italian tax authority, has issued new technical specifications and schemas for Italian B2B and B2G e-invoices. But – what do these changes really mean? And what impact do they have on business processes? Technical […]

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Nominate Your Winery for Our Annual Customer Awards

The annual Sovos ShipCompliant Wine Summit is quickly approaching and it’s time to nominate your winery for the Vinners, our customer awards before submissions close on May 1. If you are a winery and a Sovos ShipCompliant customer you are eligible to submit a nomination. You don’t need to attend the Wine Summit to be […]

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Overcome the Latest Challenges of Form 1042-S

The 1042-S form is one of the most complex IRS forms. Our recent webinar: “Form 1042-S: Turn Stress into Success” discusses updates to the 1042-S for the 2019 filing year, obstacles to filing and how your business can stay compliant. Below are the key takeaways from the webinar. What is the 1042-S The primary difference […]

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Turkey Publishes e-Delivery Application Manual

The Turkish Revenue Administration (TRA) has now published the long-awaited e-Delivery Note Application Manual. The manual clarifies how the electronic delivery process will work and answers frequently asked questions. It addresses the application as well as its scope and structure, outlines important scenarios and provides clarity for companies who are unclear about the adoption of […]

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Is India postponing the mandatory implementation deadline for e-invoicing?

For more than a year, India has been on the path to digitizing tax controls, with the first mandatory go-live for transmission of invoice data to a governmental portal scheduled for 1 April 2020. The very high pace of the roll-out of this reform has made many taxpayers concerned that they might not realistically be […]

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Where Retailers Can Ship DtC

In August 2017, Missouri repealed rules that previously permitted limited direct to consumer (DtC) sales of wine by licensed retailers. This rule change highlighted the complexities surrounding retailer DtC sales. This is the second installation of a three-part blog series to remove some of the confusion these complexities can cause. Today, we discuss where retailer […]

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Seller Beware: Use Your Own License

This last January, in partnership with Wine Vines Analytics, we published the latest of our annual Direct-to-Consumer (DtC) Wine Shipping reports, showcasing a market that readily reaches $3 billion in annual revenue. Yet throughout the tremendous growth we have seen in the DtC wine shipping market over the last decade and more, at least one […]

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US Supreme Court will Hear ACA Challenge: What are the Ramifications for Tax?

On March 2, the Supreme Court announced it would consider a challenge to the Affordable Care Act (ACA), more commonly referred to as Obamacare. The legal challenge, brought by the Attorney General of Texas and before the Supreme Court as California v. Texas, seeks to overturn the landmark healthcare law. The challenge proposes that since the […]

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UK MTD: Ready for Digital Links, or Need a “Soft Landing” Extension?

A keystone of HMRC’s Making Tax Digital for VAT (MTD) regime is that the transfer and exchange of data between what HMRC define as “functional compatible software” must be digital whenever that data remains a component of the business’s digital records.  This is to maintain a wholly digitally linked audit trail between systems.    Soft […]

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Virginia Lowers Reporting Threshold for Third-Party Settlement Organizations

The Virginia legislature recently passed legislation which makes significant changes to the reporting obligations of gig economy participants and specifically third-party settlement organizations (TPSOs). SB 211 stipulates that TPSOs must issue Form 1099-K to report payments made to their payees. And TPSOs must report payments made to participating payees with a Virginia address if those […]

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How to Prevent a Delaware Unclaimed Property Audit

Did your business receive a letter from the Delaware Secretary of State (SOS) Office? On February 20th, the Delaware SOS office sent “over 100 letters to various companies…that have been identified as likely being out of compliance with Delaware law, 12 Del. C. ch. 11, as it relates to reporting dormant, abandoned, or unclaimed property.” […]

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Greece Implements CTCs for Retailers with Online Cash Registers

The upcoming tax reform in Greece is expected to manifest itself in three continuous transaction control (CTC) initiatives. The myDATA e-books initiative, which entails the real-time reporting of transaction and accounting data to the myDATA platform which will in turn populate a set of online ledgers maintained on the government portal; Invoice clearance, which is […]

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BevAlc Roundup | Loopholes in Wine Tariffs, Coronavirus and Wine, and Understanding Your Distributors

These last few weeks have seen headlines dominated by news of the Coronavirus outbreak, to which the beverage alcohol industry (pardon me) is not immune. There are plenty of helpful stories out there, such as the impact of travel fears and harms to tourist communities that contagion panic will spread. And plenty of pretty bad […]

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Selling into Pennsylvania? Sovos Can Help Ease your Tax Burden

A year and a half removed from the Supreme Court’s decision in South Dakota v. Wayfair, states are beginning to see the benefits of implementing changes to how tax is collected for remote sellers. One of the first states to jump on the economic nexus trend was Pennsylvania. Almost immediately following the Wayfair decision, the […]

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An Analyst’s Insights into 2020 Direct-to-Consumer Wine Shipping Report

Sovos ShipCompliant and Wines Vines Analytics recently released the 2020 Direct-to-Consumer Wine Shipping Report and we asked Tom Wark of Wark Communications, a company specializing in beverage industry communications, to give us some of his insights and takeaways from this year’s report. Tom has been involved in the creation of the DtC report for many […]

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