As part of this week’s global update rumor has it that the IRS is about to announce a delay in terms of when financial institutions must begin withholding for FATCA. In the meantime, jurisdictions are continuing to be made throughout the world for FATCA, CDOT and CRS. Check out this weeks compilation from our expert research […]
After years of work and numerous failed attempts, direct to consumer (DtC) sales of wine is about to become reality in Pennsylvania. On June 8th, Pennsylvania Governor Tom Wolf signed HB 1690, which includes, among many other provisions, new laws that will make the state the latest to allow DtC sales of wine.
Global compliance software leader adds the industry’s only multi-country solution for e-invoicing and tax reporting in the world’s most complex tax compliance region. Boston, MA — Sovos Compliance, a global leader in tax and business-to-government compliance software, announced today that it plans to acquire Atlanta-and Sao Paulo-based Invoiceware International, expanding the company’s capabilities in Latin […]
We are excited to announce Sasha Strauss as a keynote speaker for day two of this year’s DIRECT Conference! His talk, titled ‘Branding in the New Normal,’ discusses how a confluence of technologies, global consumer psychology, and the evolving business climate have given birth to a communication revolution. Everything will be on the table, from why social media is now discussed in the boardroom to how B2B organizations use brand strategy to get the most out of their employees.
We recently examined the complexities involved in calculating all of the costs associated with compliance in Latin America. It’s not just a matter of implementing a set-it-and-forget-it technology; avoiding the fines, penalties and operational disruptions that result from compliance errors requires changes to operational processes, continual updates and complex validations to avoid potential issues. When […]
Penalties increase. In fact, they have done so twice already in the last year for 1099-MISC and other 10-series reporting. Deadlines change. This is a common occurrence and not always helpful, even when deadlines are extended. Rules and forms are amended. Even changing one box on a form can trigger you to change your process […]
Happy Monday! I hope you had a wonderful, sunny weekend. Today’s roundup covers Arkansas and Kansas label renewals, the logistics behind Budweiser’s ‘America,’ and a take on the Anheuser-Busch SABMiller merger. As always, if you read something I missed, let me know in the comments. Enjoy your week!
Do you still have questions about the required 1094 transmittal part of ACA reporting and the corrections process that will follow? Keep in mind, the deadline to transmit the 1094 electronic file to the IRS is June 30th, which is right around the corner and failure to comply can result in steep penalties, which have […]
Another week has come and gone, here is your weekly FATCA round-up, including important changes made by the IRS. Peruse these updates, another Jersey CDOT set of changes as well as a CRS implementation compiled by our stellar research team. IRS Has Released a Draft Version of the FATCA XML v2.0 and Will Update […]
Last week, Sovos Compliance was a sponsor at the SSOW conference in Dublin, which focused on shared service centre settings (SSC) across Europe. As Eastern European shared services centres are still experiencing significant growth, organisations are closely watching the development of processes and technologies that are enabling their SSCs to become true Centres of Excellence. […]
This year, when looking to celebrate the U.S. Olympic team or fret over the Presidential election with a Budweiser, you may face a moment of confusion at the store. Instead of a “Budweiser,” you’ll have to pick up a beer labeled “America.” (No doubt the link between Olympics, elections, and patriotic beer is merely coincidental.)
Most companies only worry about unclaimed property reporting when it is time to report their dormant records to the state. While this might ensure that your company is being compliant, is it really the most economical way for your company to manage their escheatment liability? More and more companies are focusing on the due diligence/pre-escheat […]
Did you know that June is national iced tea month? (Hello, summer!) It’s also, importantly, time to renew your label registrations in Arkansas and Kansas. Fortunately, you can knock out your label renewals in these two states in a matter of minutes through Product Registration Online so you can get back to enjoying that iced Rooibos, Arnold Palmer or maybe even your Long Island!
Virtually every business transaction results in an indirect tax consequence – i.e., an intermediary collects taxes that it then must report and pay to the government. In Latin America and other value-added tax based economies, in which tax accrues at every level of the supply chain and manufacturing process, efficient and accurate indirect tax processes […]
Jurisdictions all across the country have instituted disposable carryout bag fees and bans. San Francisco passed its ban on single-use bags back in 2007, and greatly expanded the ordinance in 2012 to include all retail stores. The District of Columbia has a bag fee that dates back to January 1, 2010, entitled the “Anacostia River […]
Happy Tuesday, folks! I hope you had a delightful Memorial Day Weekend. Today’s roundup covers California label requirements, Napa Valley wine industry growth, and an update on hard soda trends. As always, if you read something I missed, let me know in the comments. Have a great short week!
At Sovos, we are committed to keeping current with VAT compliance changes from around the world. Check out these recent updates compiled by our dedicated research team: European Union EU Council Approves Minimum VAT Rate Extension On May 25, 2016, the Council of the European Union adopted a directive extending the minimum standard VAT rate of […]