Blog

From Alignment to Action: Transforming tax compliance on your terms

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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Aligning ERP and Tax: What’s the enterprise upside of tax compliance modernization?

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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Tax & IT: How a Unified Compliance Vision Streamlines Digital Transformation

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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What Is Value-Added Tax, Anyway? Trends Report Excerpt

Value-added tax (VAT) does not exist in the United States, but American companies are increasingly having to deal with VAT mandates in Latin America, Europe and Asia. Seeking to make up a massive gap in revenues, tax administrations are mandating strict policies to digitize VAT collection. American companies that fail to comply could see their […]

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A New Countdown to NSO – Italy’s Electronic Purchase Orders Platform

On 27 December 2019, the Italian government issued a decree delaying and establishing new dates for when the NSO platform would go live.  The Purchase Orders Routing Node platform (Nodo di Smistamento degli Ordini, NSO) had initially been scheduled to be effective on 1 October 2019. The NSO is the Italian government owned platform through […]

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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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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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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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The New Era in Greece’s Tax System

Greece made an important step to digitize its tax system and introduce an innovative platform for taxpayers to fulfil their tax obligations. The new platform will offer businesses a collaborative environment where the data they provide to the Greek Independent Authority of Public Revenues (IAPR) will not only affect their own books but will also […]

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France Takes First Steps Towards Mandatory B2B Electronic Invoicing

Back in June this year, many heads were turned when the French Minister of Public Accounts and Action, Gérald Darmanin, went on record stating that the French Government has the intention of making e-invoicing mandatory also for B2B transactions. Now it seems that the Government – spearheaded on this topic by Minister Darmanin as well as by the Minister of Finance Bruno Le Maire – has moved from word to […]

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Countdown to NSO – Italy’s Electronic Purchase Orders Platform

In less a  weeks’ time, on 1 October, all purchase orders associated with the Italian National Health System (Servizio Sanitario Nazionale, SSN) will be exchanged through the public administrations’ Purchase Orders Routing Node platform (Nodo di Smistamento degli Ordini), commonly referred to as NSO. Although the new e-order mandate won’t affect the collection of VAT, […]

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Indirect Tax Compliance Challenges in Accounts Payable Automation

AP automation is supposed to save SAP customers money, but developments in digital tax could derail its benefits and actually create further liabilities. With tax authorities all over the world seeking to increase revenues and close tax gaps, IT professionals and AP system administrators face new challenges in indirect tax compliance. Among those challenges are […]

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The Rising Tide of Digital Tax: Are You Surfer or Shark Bait?

Anyone familiar with the Discovery Channel’s Shark Week and the portrayal of hungry sharks setting their sights on surfers may be surprised to learn that tax and IT professionals may be feeling every bit as wary as those surfers as they enter their own version of shark-infested waters. The reason: IT and tax pros are […]

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Understanding Data Storage Requirements for E-Receipts in Italy

Introduced on 1 January this year, the Italian e-invoicing mandate and the strict archiving requirements for fiscal documents are well known by companies with business in the Apennine Peninsula. While some retailers are exempt from the e-invoicing mandate in the country, they must still comply with different auxiliary obligations.  This includes transmission of the data […]

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Sovos Closes Foriba Acquisition, Advancing Mission to Solve Tax for Good™

Sovos officially closed the acquisition of Istanbul-based Foriba. This acquisition represents another significant milestone in our mission and makes it easier for businesses to overcome one of the greatest challenges they face: the digital transformation of tax. Across the globe, governments are mandating their own digital transformation, giving businesses two choices. The first is to […]

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Greek E-Invoicing Reform: Potential Impact of Recent National Elections

On 7 July, Greece began voting to elect a new government.  The disposed governing left party has been dealt with a hefty blow having been in power since 2015.  It was hoped they would introduce less severe politics which many claim they have not only failed to do but, in fact, they actually introduced stricter […]

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Italy Clarifies E-Invoicing Rules on the Transaction Date

From 1 July 2019, companies will benefit from an extension in the time frame from when an invoice must be issued.  Businesses can now wait for as long as 12 days to issue instant invoices after performing a transaction in Italy. The new interval is a result of the changes introduced by the Italian Parliament […]

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