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Colombia Mandates First Companies Required to Comply with eInvoicing

The Colombian tax administration (DIAN) enacted Resolution 000072 of December 29, 2017, by which it establishes the first wave of taxpayers that will be mandated to issue and report electronic invoices in Colombia. This resolution is fundamentally different from the original draft resolution published by the DIAN in November 2017 for public consultation. In that […]

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Colombia exige que las primeras empresas a cumplir con la facturación electrónica

La Dirección de Impuestos y Aduanas Nacionales (DIAN) emitió la Resolución 000072 del 29 de diciembre de 2017, en la cual se establece la primera ronda de contribuyentes que deberán emitir y reportar facturas electrónicas en Colombia. Esta resolución es esencialmente diferente del proyecto de resolución original que la DIAN había publicado en noviembre de 2017 […]

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Chile Eliminates Human Aspects of Tax Filing with eAssessments

Chile’s move to this monthly VAT declaration proposal removes taxpayers’ obligation to submit the ledger of sales and purchases (libros). Instead, the SII is now preparing the Registry of Sales and Purchases, called an RCV, which records information related to all sales and purchases based on electronic invoices and documentation. With this information, the SII […]

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Three Decades After the Birth of EDI, Scanning is Still a Big Thing

The future of business transaction compliance with tax and other legal requirements calls for government approaches that cater for the unlimited diversity of business processes; real-time controls are one promising avenue to do that, but on the condition that business data to be sent to government platforms maps organically onto existing business definitions of trading […]

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Mexico Launches New eAccounting Requirements

After announcing the largest change to its eInvoicing schema in years in late 2016, Mexico also announced a major update to its eAccounting mandate in January 2017. Though the SAT, Mexico’s authority, did not announce a specific implementation timeline for eContibilidad 1.3, it caught businesses off-guard when it began enforcing the measures in October. The […]

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UPDATE: Colombia Accelerates eInvoicing Compliance for Large Taxpayers

In late November, Colombia executed its authority to mandate electronic invoicing compliance prior to the official January 2019 deadline. The DIAN, Colombia’s tax and customs administration, published a draft of this resolution, which specifies the companies will be subject to eInvoicing. Specifically, this resolution will apply to: a) Those designated by the DIAN as “large […]

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5 Considerations for Colombia’s eInvoicing Requirement

By January 2019, all companies that pay VAT in Colombia will be required to comply with mandatory e-invoicing as the country aims to curb tax evasion and increase collections. However, businesses with operations in Colombia must begin preparing now. Here are 5 considerations that every company planning their VAT compliance strategies in Colombia should know: […]

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VAT Compliance and Reporting Technology: A “Nice to Have” or “Must Have?”

New and evolving VAT compliance and audit mandates are putting a lot of pressure on businesses, making them reevaluate how they internally manage indirect tax determination and reporting. Nearly one-third of CFOs told Grant Thornton that keeping up with the volume and complexity of compliance changes is one of their biggest challenges. Traditional compliance approaches […]

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“Recurso de Amparo” or Writs of Amparo filed against eContabilidad requirement in Mexico no longer a viable strategy to delay obligations

When the Miscellaneous Resolution for 2015 entered into force requiring the report of the Electronic Accounting (“eContabilidad” or eAccounting), a great number of taxpayers that considered that their constitutional rights were violated filed Amparos against this new mandate. The immediate result was that thousands of businesses received a suspension of the obligation of: Submitting or […]

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Brazil Eliminating Access to Free E-Invoicing Software

These states are making the move away from free e-invoicing software for several reasons, including the sheer difficulty involved in managing technology capable of meeting Brazil’s compliance requirements. As they do for companies, compliance measures have been forcing these governments into the business of change management, constantly updating and maintaining software, but now they are […]

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Italy Leading the Charge Against EU E-Invoicing Inertia

Back in June, we wrote about how Italy has declared its intention to make e-invoicing fully mandatory – not only for B2G but also now for B2B transactions. This isn’t a bad thing. Adoption in Europe is lagging embarrassingly far behind many countries such as Mexico, Chile, and Turkey who all introduced e-invoicing much later. […]

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Evaluate Your Tax Team for Regulatory and Business Change

Our October 24 Webinar, “Building the Tax Team of the Future to Successfully Navigate the Regulatory Storm,” is now available onDemand. During the webinar, we asked attendees a series of four detailed polling questions to help them measure their tax teams’ ability to deal with regulatory and business change. Questions were based on a Reactive-to-Proactive […]

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Brazil Announces Official Launch of NFSe Pilot Program

Currently, companies in Brazil must submit two separate types of invoices to the tax authority – product invoices (NFe) and service invoices (NFSe). Product invoices for goods and raw materials are standardized throughout the country, allowing companies to centralize their compliance processes; however, service invoices vary heavily depending on the city.

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Building a Tax Team to Meet Future Compliance Requirements

It’s clear business evolution, technology disruption and related tax compliance laws are creating increased complexity and becoming tremendous business liabilities. In today’s regulatory environment, businesses must view tax compliance as a critical function, committing the right resources, technology and process discipline necessary to maintain compliance and respond to the associated audits so the business can […]

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Building the Tax Team of the Future to Navigate the Regulatory Storm – Webinar

There’s a growing regulatory storm on the horizon, impacting tax professionals’ roles and skills. This is causing a shift in how businesses are preparing their compliance teams to keep their businesses ahead of the curve.   Join Matt Walsh, Principal Indirect Tax and Mark Christenson, Director, of Sovos on October 24 at 2:00 PM Eastern […]

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Brazil’s IoT Advancements Lead to “Google of Fiscal Goods”

NFe 4.0 Introduces Unprecedented Product Traceability NFe 4.0 ushers forth new requirements that make a new level of product tracking possible. Specifically, the SEFAZ, Brazil’s tax authority, requires companies subject to sanitary regulations or recall cases, as well as those that produce agricultural pesticides, veterinary products, dental products, medicines, beverages, bottled waters, food packaging, etc., to […]

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China 2017 Update: E-Invoicing Adoption and Other Trends

In 2016, China’s Business Tax to VAT reform legally enabled many consumer-facing industries to issue electronic normal VAT invoices (not eligible for input VAT claim) to their customers. Since this tax reform, the past year has seen China make an increased effort to focus on the electronic normal VAT invoice (not eligible for input VAT […]

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A Year of Changes in Brazil (Part 3): Bloco K Presents Inventory Management Challenges

What Is Bloco K?

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