It’s clear that company leaders understand that digital transformation is key for their very survival in a world of constant disruption, but only a small percentage actually have finished a company-wide transformation – opening the door to potential problems from lost customers to tax compliance issues. An SAP survey finds that 84% of 3,000 executives […]
Il 1 Settembre ha segnato il secondo passo in avanti per l’avviamento di massa verso la Fatturazione Elettronica in Italia – in questo caso si e’ trattato di coinvolgere le aziende che si occupano delle Fatture relative agli acquisti al dettaglio da parte di cittadini non facenti parte la Comunita’ Europea. Con altrettanta enfasi e’ […]
The Sovos eInvoicing solution for Colombia has achieved SAP certification as powered by the SAP NetWeaver® technology platform. The solution integrates with SAP NetWeaver and safeguards companies doing business in Colombia by automating real-time electronic invoicing processes as required by Colombian mandates. All companies doing business in Colombia must adopt electronic invoicing by Jan. 1, […]
The information technology (IT) and risk departments in most organizations have generally had little to do with each other outside of specific tasks. However, now that some of the biggest potential risks companies face involve data security, a new effort seeks to help IT and risk experts speak a common language, coming together to quantify […]
The CIAT/IOTA Conference taking place next month in Portugal demonstrates the global emergence of a major trend: real-time tax control and enforcement. The conference, which two regional tax organizations will co-host, could provide the foundation for how European tax administrations will implement their electronic invoicing and VAT control regulations for years to come. The joint […]
Governments have rapidly adopted digital models to better collect every type of transactional tax, including value-added tax (VAT), goods and services tax (GST), and sales and use tax. The SAT (Mexico’s tax authority) is no different. Interestingly, Mexico has been a trailblazer in the digitization of tax, adopting new digital models and processes to ensure […]
South Dakota v. Wayfair Decision Effects on Sales Tax Filing The South Dakota v. Wayfair decision is just a couple months behind us, and states are scrambling to impose new tax collection and remittance requirements based exclusively on economic or virtual presence. With July 1 registration deadlines in the rearview mirror and October 1 and January […]
Christian van der Valk, Sovos vice president of strategy, will speak at the CIAT/IOTA Tax Summit 2018 in Portugal. The show will take place in Lisbon Oct. 24-26. The Tax Summit is a joint effort among the Inter-American Center of Tax Administrations (CIAT), the Inter European Organization of Tax Administrations (IOTA) and the Portuguese Tax […]
Deborah Pflieger is a principal and leader of Ernst & Young’s information reporting and withholding practice. She tracks changes and trends in 1099 tax information reporting and will present on the topic at the 2018 Sovos Intelligent Reporting Summit in Denver in October. Pflieger recently spoke with Sovos about reporting trends that have caused concern […]
Notable trends: Oregon wines surging while Napa sales stagnate, Rosé on the rise and Pennsylvania as a leading shipment destination Sovos today revealed data on the performance of the direct-to-consumer (DtC) winery shipping market through the first six months of 2018. Among the notable trends in the report were Napa County wine sales slowing but […]
Candace Ewell, principal in the appropriately named Tax Controversy and Regulatory Services team at PwC, recently spoke to Sovos about form 1099-K, which has become a focal point for the IRS, states and companies in the sharing economy. She will present on the topic of the 1099-K at the Sovos Intelligent Reporting Summit in Denver […]
Country-by-Country News The Final Countdown to Mandatory eInvoicing in Italy September 1 marked the second milestone of the entry into force of the Italian eInvoicing mandate – this time targeting certain B2C goods purchased by non-EU citizens over a certain amount. But crucially, it also marked the three month, or 122 day, countdown to the […]
During 2017, Mexico made several changes to its eInvoicing framework. In addition to the implementation of CFDI version 3.3, modifications have been made to article 29 A of the Tax Code designed to stop the practice of suppliers unilaterally cancelling CFDIs. This process is being replaced with a bilateral process in which the buyer must […]
September 1 marked the second milestone of the entry into force of the Italian eInvoicing mandate – this time targeting certain B2C goods purchased by non-EU citizens over a certain amount. But crucially, it also marked the three month, or 122 day, countdown to the final deadline when eInvoicing will become mandatory for all domestic […]
Business Repercussions in the Wake of the Supreme Court Decision on South Dakota v. Wayfair In the weeks since the South Dakota v. Wayfair Supreme Court decision, many tax professionals and experts have written about how organizations need to start planning and preparing for expanded sales tax determination, collection, and reporting responsibilities. Some have even […]
The recent news about China issuing its first blockchain-based tax electronic invoice, in the southern city of Guangzhou, spread rapidly across the internet. The joint experiment between fintech enterprises and the tax administration in two cities utilises blockchain technology and its core features to ensure, among other things, the authenticity and integrity of the data […]
The UK is likely to be one of only a handful of countries in the world that regularly publishes a report that looks at its tax gap in detail, and last month HMRC (the tax authority in the UK) published its annual report for 2016-17. According to the Measuring Tax Gaps report, the overall tax […]