Blog

Navigating Insurance’s Digital Highway Copy

From underwriting to reporting, the insurance industry is having to adjust and by choice or imposed, is embracing the digital evolution of its practices. On the reporting front, more tax authorities are forcing insurance companies to tailor their internal processes by jurisdiction, directly impacting the collection of information at the underwriting stage. Digitized services continue […]

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What to Consider When Changing E-Transformation Service Provider in Turkey

In today’s business world, it’s common for companies to use third party providers. This includes for activities such as regulatory integrations, with organizations using third parties to assist with the processing and submitting of electronic records in Turkey including e-invoice, e-ledger, e-arşiv invoice and e-delivery note on behalf of the taxpayer in compliance with the […]

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The South Korean E-invoicing System in a Nutshell

Collection of real-time fiscal data is becoming one of the core public finance decision making tools. Transactional data provides a timely and reliable overview of the business sector, enabling governments to rely on analytical data in the decision-making process. This is what has led many governments to adopt Continuous Transaction Controls (CTC) regimes that require […]

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How the EU-UK Trade and Co-operation Agreement Affects Business

The EU-UK Trade and Co-operation Agreement (TCA) was finally agreed on 24 December 2020, a week before the end of the transition period. The TCA has been fully implemented into UK law but remains provisional as it needs to be ratified in the European Parliament. It is therefore being applied on a provisional basis until […]

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Greece’s myDATA scheme postponed to April 2021

On 31 December 2020, in a last-minute change, the Greek government once again postponed the go-live date of myDATA to April 2021. This announcement had been anticipated and came as a great relief to Greek taxpayers who were concerned about being ready for the previous go-live date of January 2021. The first quarter of 2021 […]

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In Focus: Hungary – Taxpayers’ Categories

Just like in every jurisdiction, settling tax liabilities compliantly is important to avoid penalties and other consequences. But in Hungary there are additional benefits to a taxpayer if tax liabilities are settled as compliantly as possible. As of 1 January 2016, Hungary introduced the so-called taxpayers’ qualification system. This means the Hungarian Tax Office (HUTA) […]

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Audio Blog: E-Archiving with Filippa Jornstedt

Join Filippa Jornstedt as she discusses how e-archiving should be a critical part of your e-invoicing strategy. Listen to her discuss the following questions:  How do e-archiving requirements change across borders? What are the problems that come from not having an e-archiving strategy? Are there consequences for non-compliance with e-archiving?

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Location of Risk: The Rules and Exceptions to Look Out For

Location of Risk is the foundation of any discussion concerning Insurance Premium Tax (IPT). Once you have correctly established the Location of Risk on a policy, you are on the cusp of determining what indirect taxes are due. The rules can be complex and differ from country to country, so a robust apportionment and calculation […]

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How Technology Can Help Businesses and Governments Measure and Mitigate the Impact of Covid-19

With further waves and recessions biting, technology offers an unparalleled opportunity for governments and business alike to gain a clearer picture of the current panorama. Digital tax returns and real-time or near-real time reporting offer up-to-date financial insight and many tax authorities are pressing ahead with digitisation plans. Damage assessment and mitigation The most powerful […]

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European Commission Proposal of VAT Reforms for Financial and Insurance Services Explained

We recently shared news of the European Commission (EC) opening a feedback period concerning an initiative to review VAT rules for financial and insurance services. The feedback period has now ended, and a public consultation period is set for the first quarter of 2021. The consultation will gather stakeholders’ views on the current VAT treatment […]

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Easing the Stress of IPT Filings

Insurance premium tax (IPT) deadlines – whether it’s month end, quarterly filing or end of year, can be stressful for insurance tax teams juggling regular workloads alongside the added pressure of ensuring filing is completed accurately and on time. To help, we wanted to offer some guidance on how to navigate deadline season successfully. Understand […]

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Trends: Previewing the Four Tax Compliance Mega-Trends Facing Multinational Companies

We recently launched the 12th Edition of our Annual Trends Report that put a spotlight on current and near-term legal requirements across regions and VAT compliance domains.  The report, “VAT Trends: Toward Continuous Transaction Controls” is authored by a team of international tax compliance experts and provides a comprehensive look at the regulatory landscape as […]

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VAT E-Commerce Package – The One Stop Shop (OSS)

The European Union’s VAT e-commerce package has been delayed until 1 July 2021. Consequently, in the New Year businesses will have to contend with both Brexit related changes and the impact of OSS – amounting to two new set of rules for VAT reporting in 2021. Treatment of B2C goods and services after 1 July […]

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France – Insurers to Pay Part of the Covid-19 Bill

Since the Covid-19 outbreak, the insurance industry has been put under the spotlight in France, sometimes being the scapegoat for failing to compensate its insureds. Exceptional tax, insurance premiums frozen, contribution to Solidarity Funds and schemes are all examples of the measures taken. In this blog we detail the different steps taken by local authorities […]

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Goods and Services Post-Brexit – Supply Chain Planning

The UK left the European Union on 31 January 2020, and the current transition period – due to end on 31 December 2020 – is just days from its end. On 1 January 2021, major changes are coming which will impact the UK’s trade relationships with its closest neighbours. To help businesses understand the impact, […]

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Will Poland beat France in the race to CTC?

The Polish Ministry of Finance yesterday announced a timeline for its plans to introduce a Continuous Transaction Controls (CTC) scheme, with a roll-out to start in a year’s time from now. Earlier this year, ministry officials described their intention to introduce an Italian-style clearance e-invoicing system, however since then, not much has been announced in […]

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Audio Blog: VAT Trends: Toward Continuous Transaction Controls Part Two

Today we will be concluding our preview of the upcoming release of the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report. Hear from Christiaan Van der Valk as he jumps back in: 1.     In your opinion, when is the right time for businesses considering major platform upgrades to involve tax? What […]

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Audio Blog: VAT Trends: Toward Continuous Transaction Controls Part One

Today we will be previewing the upcoming release of the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report.  In this episode of the Sovos Expert Series, Harriet Vivian sits down with Sovos’ VP of Strategy, Christiaan Van Der Valk as he digs into what the Trends Report will look like this […]

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