Blog

Greece Establishes Legal Basis for myDATA Scheme and Introduces New E-Invoice Requirements

First legislation of the myDATA The requirement for the mandatory submission of tax data to the Independent Authority for Public Revenue (IAPR) has finally been established in law, specifically in the new tax bill approved by the Greek parliament just a few days ago. The tax bill further mandates the IAPR to finalize, by way […]

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New Global VAT Compliance Report Provides Guidance for Multinationals

Companies are dealing with a fundamental shift in the way they do business with trading partners. In a rapidly increasing number of countries, there’s a third party inserting itself into every transaction. It’s the government, and it’s wedging its way into every order a company ships or receives.  In an effort to close a massive […]

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BevAlc Roundup | Time Running Out to Extend Reduced Federal Excise Taxes, Beer Shipments Fall to Decade Low in 2019, and Is Molasses the Secret to Good Rum

December 5 was the 86th anniversary of Repeal Day, the day the 21st Amendment was enacted, restoring the legal market for producing and selling alcohol in the United States. While the many decades between then and now have been very fruitful for producers, distributors, and retailers of alcohol and the satisfied consumers they serve, the […]

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Alaska is Not Out in The Cold for Economic Nexus

When people think of sales and use tax, Alaska is generally not top of mind. Alaska is the “A” in “NOMAD,” an acronym typically used to describe the states that do not impose sales tax. While it’s true that Alaska is one of the few states without a state-level sales tax, many of the state’s […]

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Economic Nexus: Enforcement is Coming

We are now more than 16 months removed from the groundbreaking Supreme Court decision of South Dakota v. Wayfair. This decision unlocked the ability for U.S. states to impose a sales tax collection and remittance responsibility on remote sellers based solely on their economic connection to that state. Within that time, virtually every state imposing […]

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Poland’s Departure from the Traditional VAT Return

In Europe, Poland seems to be the first country to move away from the traditional VAT return replacing it with a detailed Standard Audit File for Tax (SAF-T). This is basically an expansion of the SAF-T system already used in Poland since 2016. Large enterprises must start working with the expanded SAF-T system from April […]

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Hungary Expands Scope of Real-Time Reporting

Since July 2018, taxpayers in Hungary have been obliged to disclose the data of electronic invoices issued for transactions with accounted VAT exceeding HUF 100,000 (approximately €300). This data must be transmitted to the National Tax and Customs Administration of Hungary (NAV) in a structured manner once the electronic invoice has been issued.  This fiscal obligation […]

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Is Your Business Ready for Turkey’s Digital Tax Transformation?

The value of data is rising The value of data is becoming more precious than oil.  Technology has transformed market dynamics across all sectors and the way businesses operate. Big data has grown in importance and data-based platforms are today’s new technology giants. On one hand; Facebook, Google and other data-based platforms are collecting data […]

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Revisiting the EU VAT “2020 Quick Fixes”

Part 4 – Call-Off Stock Arrangements This is the last in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes” that aim to standardise certain VAT rules throughout the EU.   Part one of this series focussed on VAT Identification of the Customer, part two provided guidance on the Exemptions of […]

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Ready to grow your winery? Invest in ecommerce

At the height of the “Amazon effect,” ecommerce has never been so important to the wine industry. New digital shopping patterns, customer expectations and competitive landscapes have impacted the traditional brick and mortar business model.  Wineries may be slower to embrace this change due to the added regulatory complexities of shipping alcohol and the strong […]

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Italy to Introduce Pre-Completed VAT Returns by July 2020

The Italian government has introduced an ambitious new program for collecting VAT, under which the tax authorities will pre-populate VAT returns on behalf of taxpayers. This program is aimed at reducing the VAT gap in Italy, which reached 33.5 billion Euros in 2017 – in absolute terms, the largest loss of revenue in the European […]

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The Top 5 Most Common Unclaimed Property Compliance Mistakes

Full compliance when it comes to unclaimed property requirements can be difficult to determine. For many businesses, it isn’t until they are audited and fined that they find out they made a mistake. Below are the most common mistakes businesses make when complying with unclaimed property requirements. 1. Reporting is mandatory Reporting unclaimed property is […]

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Revisiting the EU VAT “2020 Quick Fixes”

Part 3:  Chain Transactions This is the third in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes” that aim to standardise certain VAT rules throughout the EU. Part one of this series focussed on VAT Identification of the Customer, whilst part two provided guidance on the Exemptions of Intra-Community […]

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Will the myDATA Project be Delayed in Greece and Mandatory E-Invoicing be Introduced?

Two months after closing the public consultation on the myDATA scheme, the Greek tax authority, IAPR, has yet to share the feedback received from the industry on the proposed scheme or make any official announcement in this regard. However, local discussions indicate that, the IAPR may reintroduce its initial agenda proposed back in August 2018, […]

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BevAlc Roundup | Federal Alcohol Tax Reform Gains Support, Divergence in Oregon Wine Country, and How to Improve Holiday Shipping

The fires that threatened Sonoma County two weeks ago have thankfully been quelled; but that was not before numerous homes and buildings were destroyed, for which we at ShipCompliant extend our deepest sympathies. For everyone, though, the holiday shopping season is still fast approaching. This brings increased online sales and potential delays in shipping across […]

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Importers in the DtC Landscape: It’s Complicated

To paraphrase, all of the beverage alcohol industry has to deal with complicated regulations; each member of the beverage alcohol market has to deal with regulations that are complicated in their own way. That is a long-winded way of saying that you may face unique restrictions and complications that other, seemingly similarly placed (i.e., same […]

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IRS Tax Gap Data Previews the Future of 10-series Reporting Requirements

A recent fact sheet released by the IRS shows the latest tax gap estimates and overall taxpayer compliance and demonstrates why the IRS is likely to strengthen its tax reporting enforcement policies. The findings are based on data from tax years 2011, 2012 and 2013. The purpose of this document is to let the public […]

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Improving Sales Tax Automation in Manufacturing

Managing manufacturing sales tax is complex for a number of reasons. You may have thousands of SKUs with taxability rules that differ across states, as well as hundreds, if not thousands, of exemption certificates to track and keep up to date for your customers. Additionally, tracking your own inventory for materials used internally that are […]

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