Have you ever thought about just how much it will cost your organization to comply with mandatory ACA reporting? What will Affordable Care Act reporting cost you in terms of time and impact? Let’s take a minute and break down the economics. The IRS estimates that it will take 12 minutes to fill out each […]
On September 18, 2015 and September 30, 2015, House Bill 97 and House Bill 117, respectively, were signed into law by North Carolina Governor, Pat McCrory. Together, these bills expand the sales tax base in North Carolina. This new expansion of the sales tax base will impact retailers who provide repair, maintenance, and installation services. […]
Hello, all! Hope you all had a wonderful weekend and are looking forward to spring as much as I am! To get this week started, we have the latest industry updates, including a look at how elections could impact craft brewers, sales forecast from Oregon, and another reason to go green. Let me know if […]
The following is intended as a brief update on some late breaking news on the implementation of a Value Added Tax in the Commonwealth of Puerto Rico effective April 1, 2016 New VAT Regs The highly anticipated “proposed VAT regulations” were published on the Hacienda website recently. Sovos is deep into the process of reading […]
In its 11th year, the DIRECT Conference brings together businesses and experts from all areas of the beverage alcohol industry. The event started with a focus on the wine industry, specifically the direct-to-consumer channel, and has evolved into a more holistic event, offering value to people who are passionate about and work in the beer, spirits, and wine industries.
Global companies with operations in Latin America are often faced with a paradox. They’ve invested heavily in a global instance of SAP, and yet that investment doesn’t cover the unique financial compliance initiatives required by governments throughout Latin America. To combat this issue, some companies expend even more by managing compliance internally – requiring up […]
Alabama will be holding its fifth annual Severe Weather Preparedness Sales Tax Holiday at the end of this month, offering tax exemptions on qualifying items purchased between 12:01am (CST) on Friday, February 26, 2016 and midnight on Sunday February 28, 2016. During this time, purchases of items such as batteries, radios, flashlights, ropes, duct tape, […]
ShipCompliant regularly introduces you to wine industry software systems who have recently built integrations to our compliance, tax, and address validation APIs. This week we are excited to tell you about simplyCMS and invite you to join a live integration demo on Tuesday, March 1st (sign up below). You can view all current partners here and find out more information about our partner program here.
We are excited and proud to unveil our sixth annual company cookbook, “There’s No Place Like Home!” As our company has grown over the past year, so has our team. Hailing from all corners of the country, and even some points abroad, we all bring a little different flavor to our jobs and our cooking. […]
Colombia is the eighth country in Latin America to mandate electronic invoicing. This latest requirement from Colombia comes as no surprise as Colombia has been planning to standardize electronic invoicing for the past decade, starting with decree 1929 in 2007. The old model had a few flaws and in 2013 the DIAN (tax authority) proposed […]
Are sales and use taxes making life difficult for your retail business? Do you know the full scope of your company’s sales and use tax obligations? There are a number of unique tax laws that retailers must know, stay up-to-date on, and abide by. Join Erik Wallin, Senior Tax Counsel at Sovos Compliance, to learn […]
Happy Monday, folks! To start the week off, I’ve brought you the roundup once again. This week’s highlights include information regarding the TTB’s ruling for gluten-free labeling, updates on direct-to-consumer laws for breweries in Louisiana and Mississippi, and a breakdown of category management for wholesalers. I hope you find this informative, and as always, let […]
Last week we had the pleasure of hosting our first exclusive VAT technology event. The topic for the event was the rise of e-audits in relation to VAT and how to tackle the challenges with technology. The increasing complexity of the VAT environment, and the constant technological development on the tax administration side to overcome […]
Countries around the globe are making FATCA updates to regulations every day. Check out the most recent updates from the past week, compiled by our team of tax and compliance experts. Lichtenstein Updates FATCA Reporting Transmission Guide for Tax Year 2015 Lichtenstein has updated their FATCA Reporting Transmission Guide for Tax Year 2015, which contains […]
On February 11th, TTB issued Ruling 2016-1, clarifying that wholesalers of beverage alcohol may provide retailers with shelf plans and shelf schematics without violating tied-house restrictions—however, the real impact of Ruling 2016-1 is in what it seems to prohibit, rather than what it permits.
The much anticipated news from Colombia has arrived. On November 24, 2015, the Colombia DIAN (tax authority) announced in Decree 2242 that electronic invoicing will be mandated for specified companies starting January 2016. Similar to mandates already in place in Mexico and Chile, for example, this is a way for Colombia to combat tax evasion […]
Sometimes it’s good to go back to basics. Want to learn more about value added tax (VAT)? You are not alone. Since most of Europe and around the world uses a VAT system, here is a good overview about how it works and how it is similar, but different, to sales tax in the United […]
We recently examined the 10 new financial compliance regulations expected to hit companies operating in Latin America this year. None present more challenges than those going into effect in Brazil. Couple this wave of changes and expansions with Brazil’s current complex mandates, and companies are in for a turbulent ride, risking significant fines, penalties and […]