You operate a lean tax compliance and reporting team. Maybe your company has reduced staff over the past 5-10 years while continuing to grow its business through organic means as well as merger and acquisition. But now your staff of 10 is down to four or five. What was once a manageable manual process of […]
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 […]
On July 25th, Chuck Maniace, vice president of regulatory analysis and design at Sovos, hosted a replay of the “South Dakota v. Wayfair One Year Later” webinar on regulatory updates since the groundbreaking decision last June. Thanks to all those who participated, we received an additional wide range of thought-provoking questions. Our regulatory team compiled […]
Thank you all who joined our webinar on June 27, “South Dakota v. Wayfair One Year Later – Sales Tax Retrospective and Look Ahead,” and submitted the following questions during the Q&A portion. They really put our regulatory analysis team to the test, and we hope you find the responses valuable as you prepare for […]
While Louisiana is one of the few states (as of today) that does not actively require out-of-state vendors to collect their sales tax, it’s not for lack of effort or forethought. Louisiana has been thinking about taxing remote commerce for a few years and now, they are ready to act and make the requirement fully […]
Since the groundbreaking Supreme Court decision in South Dakota v. Wayfair last June, tax compliance requirements of sellers have undergone a seismic shift. In recent months, we have also witnessed a series of after-shocks directed at setting the foundation for U.S. sales tax compliance in the modern age. In a live webinar and Q&A, “South […]
Marketplace sales tax laws are being used by states as an additional means to collect more sales tax revenue from remote sellers on marketplaces like Amazon, eBay, Etsy, and WalMart. These online marketplaces and the rules being introduced to compel marketplace tax compliance have introduced new sales tax collection and remittance questions and complexity. According […]
With more companies focusing on global integration, cross-border supply chains and expanding ecommerce, governments across the globe are introducing new ways to enforce tax rules and close their tax gaps. The evolving global regulatory environment produces unique tax determination and reporting challenges in the United States and additional VAT and e-invoicing compliance challenges around the […]
In December 2018, the state of Colorado made substantial changes impacting the sales tax collection and remittance requirements imposed on both in-state and remote sellers. The state extended a grace period for companies to comply with these requirements through May 31, 2019. Beginning June 1, 2019, under the new rules, most companies will be required […]
Pawel Smolarkiewicz, chief product office at Sovos, will speak on the digital transformation of tax and its effect on SAP S/4HANA at next week’s SAPPHIRE conference in Orlando. As countries make continuous tax compliance the new normal, businesses are finding that they have to respond by putting tax compliance functionality at the core of […]
SAP Central Finance is driving migration to SAP S/4HANA as companies look to deliver value to their finance and accounting organizations, as well as improve on the configuration of previous financial systems. And for most companies making the transition, tax compliance is a priority. In a recent survey by SAP Insider, 74 percent of SAP […]
SAP S/4HANA is the promised land for SAP customers: an entire suite of ERP functionality in one place with a single data store. The ability to run all ERP capabilities, both from SAP and non-SAP systems, from a single source represents delivery of a model IT professionals and SAP administrators have sought for years. Getting […]
Sovos has been named a ‘2019 Provider to Know’ by Spend Matters for innovation in procurement. Spend Matters released its 6th annual “50 Providers to Know/50 Providers to Watch” lists today in conjunction with the annual ISM conference, naming Sovos as one of its 50 Providers to Know for 2019. The recognition highlights Sovos’ Intelligent […]
A topic of conversation on the recent Sovos and Deloitte Tax LLC webinar, “The Speed of Sales Tax – How to Stay Ahead of Changing Regulations in 2019,” was whether or not states will seek further economic nexus simplification. State of sales tax economic nexus Currently, there are 36 states enforcing sales tax economic nexus […]
On March 21, Sovos and Deloitte Tax LLP teamed up on a webinar, “The Speed of Sales Tax – How to Stay Ahead of Changing Regulations in 2019,” discussing trends in sales tax compliance that will impact tax professionals’ day-to-day processes and work. Below is a brief recap of the major trends that were discussed […]
Marketplace Facilitators and Payment Processors Find Themselves in the Global Tax Compliance Crosshairs While approaches may differ across the globe, one of the defining trends in indirect tax over the last few years has been the effort to expand the number of types of businesses responsible for collecting tax. However, one of the challenges associated […]
Launched at SAP Ariba in March of 2018, Sovos Use Tax Manager, a cloud-based solution that automates use tax determination reconciliation on purchases to accurately self-assess and accrue tax for proper filing, is one of the few innovations in sales and use tax compliance that is focused on improving your procurement process by eliminating invoice […]
Sovos recently announced that its solution for real-time and batch tax determination, Global Tax Determination, has achieved SAP certification as integrated with SAP S/4HANA®, meaning it integrates with SAP S/4HANA using standard integration technologies. The integration helps organizations provide appropriate tax calculation in both purchasing and sales processes, keeping businesses ahead of increased disparity in […]