Blog

The Danger of Unclaimed Property for Healthcare Providers

Healthcare providers build up patient credit balances from collecting more coinsurance, copays, and deductibles than they earn. Unfortunately, because the fees are unearned, the healthcare provider has inadvertently accepted fiduciary responsibility for the funds. In addition to safeguarding the funds from potential loss, the healthcare provider is now facing penalties and interest from the states […]

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Foster Lasting Customer Relationships by Adding Education to Your Ecommerce Platform

Younger or less experienced wine consumers may find speaking with a wine expert at a tasting room or wine retailer intimidating. There is plenty of wine-specific terminology that consumers outside of the wine industry may find opaque or confusing. Don’t underestimate the role that even seemingly basic education can play in helping convert customers. At […]

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Spain’s Tax System – The Complexities of Compliance

Spain’s tax system is one of the most complex in Europe. For this reason, it presents a unique challenge for insurers when it comes to insurance premium tax (IPT) compliance. It has various taxes on insurance premiums with varying rates and several reports which must be declared. There are four provinces in Spain, each requiring […]

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Thinking About a Post Pandemic Sales Tax Enforcement Landscape

For those tax professionals responsible for keeping their company safe from audit risk, the time is coming (if it’s not already here) to think about how states may act to shore up budget shortfalls stemming from decrease in sales tax revenue  as a result of the COVID-19 pandemic. While the US economy was (until recently) […]

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The Top 4 Benefits of a Cloud-Based Unclaimed Property Solution

According to Forrester Research, 65 percent of North American enterprises relied on public cloud platforms in 2019. This is five times the percentage that used cloud platforms 6 years ago. Leading businesses are flocking to cloud solutions because of the numerous benefits they provide. Below are the top 4 benefits of using a cloud-based unclaimed […]

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What Cross-Border Insurers Need to Know About French, Spanish and Portugese IPT

When operating across multiple regions, it’s challenging to stay abreast with every jurisdictions’ insurance premium tax (IPT) rates, particularities and exemptions. Country-specific filing and audit processes vary country to country too. If you operate in Portugal, France or Spain, or are looking to expand your business into these European territories, we’ve compiled a quick guide […]

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Further EU VAT Measures in Response to Coronavirus

Sovos recently published a blog regarding prospective measures EU member states are taking in response to the Covid-19 pandemic.  Included below are additional actions introduced from countries across the EU: European Union The European Commission has approved requests from all EU Member States to temporarily suspend VAT and customs duties on imported medical equipment.  This […]

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The Top 5 Ways Coronavirus is Affecting Your Business’s Tax Reporting Obligations

The Coronavirus Aid, Relief and Economic Security (CARES) Act addresses the economic impacts of the COVID-19 outbreak. It authorizes emergency loans to distressed businesses, payouts of tax rebates to individuals and their children and provides paid family leave and paid sick leave benefits to employees by offsetting tax credits to employers. The bill provides for […]

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The Top 5 Challenges of Forms 1099-LS and 1099-SB

Forms 1099-LS and 1099-SB were born out of the 2017 Tax Cuts and Jobs Act (TCJA) as part of the Life Settlement reporting section. They were first introduced for the 2019 tax season, and require reporting from both the purchaser and the life insurance carrier when a life insurance policy is sold to a new […]

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Vietnam’s E-invoicing Mandate – Delayed Until 2022

The Ministry of Finance in Vietnam recently presented a draft decree to the Prime Minister for ratification, indicating that the go-live date for mandatory e-invoicing in the country will be delayed from 1 November 2020 to 1 July 2022. This proposed delay is in response to difficulties encountered by local companies to implement a compliant […]

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Turkey Publishes Storage Guidelines for E-Ledger

On 3 April 2020,  storage guidelines for e-ledger were published by the Turkish Revenue Authority (TRA). The guidelines set out the requirements and standards for special integrators, and the requirements for supporting secondary storage services for e-ledgers, e-ledger summary report (Berat) files and other documents created through the e-ledger system. Background The Communique, first published […]

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Sales Tax Obligations, Economic Nexus for DtC Shippers

Sales tax always has been, and always will be, an integral part of compliance for wineries, especially for those shipping direct-to-consumer (DtC). In recent years the standards for determining who is obligated to collect sales tax and at what rates has changed due to evolving legislation like the Supreme Court case South Dakota v. Wayfair.   […]

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As COVID-19 Changes the Retail Landscape, are SMBs Ready for the Sales Tax Ramifications?

The COVID-19 pandemic has dramatically changed the way in which commerce is conducted in the United States and around the world. Based on current restrictions, consumers have had no other choice but to explore e-commerce options to fulfill needs for all but the most essential items and services. In turn, smaller and mid-sized businesses that […]

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Kentucky to Allow Direct Shipments of Wine, Beer, and Spirits

On April 7, 2020, Kentucky became the latest state to adopt rules clearly permitting the direct-to-consumer (DtC) shipping of alcoholic beverages. As established in HB 415, Kentucky residents will soon be able to purchase and receive shipments of beer, wine and spirits from licensed producers across the country. That this bill includes all types of […]

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Israel: Progress on Implementing Continuous Transaction Controls (CTCs)

Update: 2 November 2023 by Dilara İnal Israel Extends CTC Implementation Timeline On 23 October 2023, the Israeli Tax Authority (ITA) announced that it had extended the continuous transaction controls (CTC) implementation timeline to offer businesses more time to complete their technological development. According to the announcement, the ITA will allow the deduction of input tax from […]

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GoKeyless: Life with Sales Tax Automation

GoKeyless Journey 3-part Q&A blog series This three-part blog series will cover the journey of GoKeyless as they struggle to deal with the initial impact of the South Dakota vs. Wayfair ruling. Told from the vantage point of Skip Graham, network administrator at GoKeyless, this series is an inside look at how manual compliance processes […]

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GoKeyless: In Search of the Right Sales Tax Partner

GoKeyless Journey 3-part Q&A blog series This three-part blog series will cover the journey of GoKeyless as they struggle to deal with the initial impact of the South Dakota vs. Wayfair ruling. Told from the vantage point of Skip Graham, network administrator at GoKeyless, this series is an inside look at how manual compliance processes […]

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GoKeyless: We Thought We Were Ready For Wayfair, We Were Wrong 

GoKeyless Journey 3-part Q&A blog series This three-part blog series will cover the journey of GoKeyless as they struggle to deal with the initial impact of the South Dakota vs. Wayfair ruling. Told from the vantage point of Skip Graham, network administrator at GoKeyless, this series is an inside look at how manual compliance processes […]

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