Blog

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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Sovos and the Streamlined Sales Tax Project – Fact Sheet

The Basics of the Streamlined Sales Tax Project (SSTP) Sovos has been an active industry participant in the Streamlined Sales Tax Project (SSTP) since its inception in the year 2000. Sovos is a Certified Service Provider (CSP) under the Streamlined Sales and Use Tax Agreement and both Sovos Enterprise and Small Market sales and use […]

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[Infographic] 4 Factors Driving Insurers to Automate and Centralize 1099 Reporting

  Take Action Sovos has decades of experience enabling insurers to adjust quickly and easily to complex regulatory changes in 1099 reporting. Learn more or contact Sovos for more information.

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List of States with Economic Nexus Sales Tax Requirements

What are the state sales tax economic nexus requirements? Since the Supreme Court decision in South Dakota v. Wayfair on June 21, states have moved with incredible speed to enact economic nexus requirements. To keep our customers and the taxpaying public informed, Sovos has put together a South Dakota v. Wayfair economic nexus state requirements table that […]

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What SII Will Require from Companies Doing Business in the Canary Islands

A version of Immediate Information Sharing (SII) will take effect in the Canary Islands on Jan. 1, 2019. As usual in the Canaries, an autonomous region of Spain, tax regulations will be similar to those in the mainland but not exactly the same. The Canary Islands is an autonomous region of Spain with a tax […]

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Intra-Group Invoices: From Haven of Peace to Corporate Achilles Heel

Few things in VAT are ever straightforward. A notable exception is the unambiguous requirement to issue, process and archive compliant invoices for all transactions ‘within the scope of VAT’ – roughly, transactions between VAT-registered entities, whether they explicitly carry VAT or not. What constitutes a ‘compliant’ invoice is, of course, defined by applicable VAT law […]

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How Making Tax Digital Could Make Life Hard for Companies Doing Business in the UK

Most of the financial news coming out of the UK currently revolves around Brexit, but a forthcoming VAT initiative is far more likely to have an immediate impact on companies doing business in the UK. Beginning April 1, 2019, the UK’s Making Tax Digital (MTD) initiative will begin to go into effect. Any company doing […]

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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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How Multinational Retailers Can Sustain Tax Compliance as Economic Nexus Rules Ripple Through the U.S.

In June, the United States Supreme Court announced its decision in the highly-anticipated and hotly-debated South Dakota v. Wayfair case, ruling in favor of South Dakota. Immediately, this decision triggered panic among eCommerce retailers across the country. What would this mean for their sales tax collection obligations? Would they be on the hook in a […]

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[Infographic] The 10 Most Innovative Countries in VAT Compliance

Value-added tax (VAT) gaps take a toll on tax authorities around the world. Errors and tax fraud reduce what governments can invest in services for citizens or needed infrastructure improvements. Now, countries across the globe are adopting technology-driven approaches to reduce the gap and gain real-time visibility into business transactions. Throughout Latin America, countries like […]

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Top 4 Features for a European VAT Compliance Solution

Technology-driven initiatives to overhaul outdated VAT regulations are changing the landscape for businesses in Europe. By requiring real-time, transaction-level data, tax authorities are making businesses rethink processes and seek solutions to ease the burden. Tax authorities across Europe are cracking down on fraud and increasing tax revenue collection through new VAT initiatives. eLedger, eAccounting and […]

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GDPR: The Right to be Forgotten

The right of erasure vs. the legal requirement to store data The protection and privacy of personal data has become a hot topic. Regulators across the globe implement laws which aim to provide greater protection of the privacy of personal data. One of the most significant pieces of legislation is GDPR which came into effect […]

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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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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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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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Il countdown finale per la Fatturazione Elettronica obbilgatoria in Italia

Il 1 Settembre ha segnato il secondo passo in avanti per l’avviamento di massa  verso la Fatturazione Elettronica in Italia – in questo caso si e’ trattato di coinvolgere le aziende che si occupano delle Fatture relative agli acquisti al dettaglio da parte di cittadini non facenti parte la Comunita’ Europea. Con altrettanta enfasi e’ […]

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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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2018 Intelligent Reporting Summit Q&A: The Movement to Quantify IT Risk

The information technology (IT) and risk departments in most organizations have generally had little to do with each other outside of specific tasks. However, now that some of the biggest potential risks companies face involve data security, a new effort seeks to help IT and risk experts speak a common language, coming together to quantify […]

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Why a Conference in Portugal Could Set a Course for the Future of VAT Enforcement

The CIAT/IOTA Conference taking place next month in Portugal demonstrates the global emergence of a major trend: real-time tax control and enforcement. The conference, which two regional tax organizations will co-host, could provide the foundation for how European tax administrations will implement their electronic invoicing and VAT control regulations for years to come. The joint […]

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Mexico in the Digital Age: 7 VAT Compliance Measures to Know

Governments have rapidly adopted digital models to better collect every type of transactional tax, including value-added tax (VAT), goods and services tax (GST), and sales and use tax. The SAT (Mexico’s tax authority) is no different. Interestingly, Mexico has been a trailblazer in the digitization of tax, adopting new digital models and processes to ensure […]

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