Blog

Italy’s e-invoicing reform: A new FatturaPA

Italy has been a pioneer when it comes to automating e-invoicing processes. It first introduced a B2G e-invoicing system in 2014 which has since evolved into a robust and mandatory platform for the exchange of invoices now also expanded to include B2B and B2C transactions. The Italian central e-invoicing platform SDI was considered revolutionary by […]

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Prepare to Pay Taxes on Crypto Held in Foreign Accounts

The Government Accountability Office (GAO), a U.S. Congress watchdog, published a report evaluating the IRS’s approach to regulating virtual currency (crypto) and the guidance it has offered the public. The GAO’s Recommendation However, a portion of the report was directed at the IRS and the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. […]

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New Sales Tax Modernization Being Proposed in Massachusetts

When Massachusetts Governor Charlie Baker issued his Fiscal Year 2021 budget proposal in late January, he proposed several ideas purporting to modernize Massachusetts sales tax by recognizing the growing importance of technology and computing power in tax compliance. The ideas are interesting to say the least. Idea #1 – Shorter Time from Collection to Remittance […]

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IRS Agrees to more Clarity on Crypto Information Reporting

The Government Accountability Office (GAO), a U.S. Congress watchdog, published a report evaluating the IRS’s approach to regulating virtual currency (crypto) and the guidance it has offered the public. In the report, the GAO offered three recommendations for the IRS, and an additional recommendation for the Financial Crimes Enforcement Network (FinCEN), a bureau of the […]

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India: Standardizing Business-to-Business E-invoice Exchange

With little over a month left to go before the first phase of Indian invoice clearance reform goes live, authorities are still busy finalizing the technical framework and infrastructure to support it. Just a few days ago, changes were made to the explanatory schema of the JSON file that will report data to the tax […]

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From Alignment to Action: Transforming tax compliance on your terms

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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Aligning ERP and Tax: What’s the enterprise upside of tax compliance modernization?

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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Tax & IT: How a Unified Compliance Vision Streamlines Digital Transformation

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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BevAlc Roundup | Tariffs Continue to Affect Bev Alc Industry, the Grape Glut, and When Tasting Room Experiences Go Wrong

In the last few weeks, we’ve participated at several large industry events, including the annual DTC Symposium, the Unified Wine & Grape Symposium, and the Oregon Wine Symposium. These have all been wonderful occasions to connect with our friends and partners in the industry, but did you know that Sovos ShipCompliant also puts on conferences […]

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Vietnam Makes E-Invoicing Mandatory

Whilst Vietnam has allowed the issue of electronic invoices since 2011, this has not proved popular with domestic businesses.  This is mainly due to the lack of an efficient framework for commercial processes and the technical capabilities required to issue e-invoices compliantly. During the last decade, the Vietnamese government has developed a more robust legal […]

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Hungary Amends VAT Act – Real-Time Reporting Affects All

The Hungarian Ministry of Finance had a productive end to the decade. As outlined in an earlier article, the MoF announced a package of measures and proposals as part of its Economic Action Plan for 2020.  The aim of the plan is to improve VAT compliance and reduce fraud.  A bill to amend the laws […]

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The Evolution of a More Competitive DtC Market

When I joined Wines & Vines magazine in 2011, I received an in-depth introduction to the world of direct-to-consumer wine shipments through the magazine’s collaboration with ShipCompliant. Back then the channel still seemed new, relatively novel, and while sales were strong in a few key markets, the overall growth of the segment was hobbled by […]

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ECOFIN Speaks on EU VAT Reforms

Pivotal projects in the development of EU VAT The EU’s Economic and Financial Affairs Council (“ECOFIN”) issued a report in December. This followed its review of EU tax policies and developments since Finland took over Presidency of the Council of the European Union in July 2019.  In a previous article we summarised their status review […]

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What Is Value-Added Tax, Anyway? Trends Report Excerpt

Value-added tax (VAT) does not exist in the United States, but American companies are increasingly having to deal with VAT mandates in Latin America, Europe and Asia. Seeking to make up a massive gap in revenues, tax administrations are mandating strict policies to digitize VAT collection. American companies that fail to comply could see their […]

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India’s Upcoming Mandate: Are the Necessary Invoice Clarifications Coming?

The new framework for invoice clearance in India is a hot topic that concerns many companies. This is not unexpected considering the size of the Indian economy and the number of companies that will be obliged to comply with the new framework. As outlined and confirmed in the Notification numbered 68/2019 published in the Indian […]

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VIES: New VAT Identification Requirements

The wording of the EU Directive 2018/1910, effective since 1 January 2020, suggests that EU suppliers must check that other businesses they are trading with within the EU are properly VAT registered. The Directive has triggered concerns about the obligation and the timing of when these checks must be done.  What is VIES? VIES, the […]

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Co-opetition Channels: The Future of Wine Industry Growth

Direct to consumer (DtC) sales are viewed as a direct competition to traditional three-tier wine sales, but is this really the case?  At a transaction level, individual sales do present competition. Yet, at a macro level, the two channels support each other by increasing consumer demand and driving industry growth.   Bridging the availability gap The […]

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Brexit, the Saga Continues

The UK officially left the European Union at 11pm BST on Friday 31 January 2020, 10 months later than originally planned due to two negotiation period extensions. Both are now in a transition period due to end on 31 December 2020.  During this period, the conditions of the new relationship will be redefined and agreed. […]

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