Tax Compliance
Italian Import Documents Become Electronic
The Italian Customs Authorities recently updated their national import system by applying the new European Union Customs Data Model (EUCDM). These new changes came into
Category: Tax Compliance
Electronic Invoicing
India: New Taxpayers to Comply with E-invoicing Rules
As previously predicted by Sovos, the threshold for implementing mandatory e-invoicing has been lowered by the Indian authorities. According to the Central Board of Indirect
Tax Compliance
New EU Brexit Infringement Procedures
On 22 July, the EU Commission opened four new infringement proceedings against the United Kingdom for allegedly breaching the 2021 Northern Ireland Protocol on conditions
Tax Compliance
Tax Authority Data Collection and the Analytics Behind It
Data is one of the most valuable assets of companies and individuals. Data gathered, cleaned and analysed well enables businesses to realise their utmost capabilities.
Electronic Invoicing
Global CTC Updates: July 2022
Latest Changes 1 July begins the second half of 2022, and in line with that milestone, changes have started to be implemented in the CTC
Tax Compliance
IRS to Require Electronic Filing of Form 1042 and Other Returns
Last summer, the IRS released Proposed Regulations amending the rules for filing electronically for a variety of business income tax returns, information returns, registration statements,
Electronic Invoicing
Philippines’ CTC E-Invoice Reporting System is Officially Live
The Philippines continuous transaction controls (CTC) Electronic Invoicing/Receipting System (EIS) has been officially kicked off for the 100 large taxpayers selected by the government to
Electronic Invoicing
SIRE: New Peruvian Electronic Record Keeping Mandate
On 1 January every year, taxpayers operating in Peru must assess their monthly income over a certain period determined by law to verify if they
Tax Compliance
One year on for the One Stop Shop – the changes and challenges of the new e-commerce VAT scheme
In this episode of the Sovos Expert Series, Cécile Dessy sits down with Russell Hughes, Consulting Services Manager at Sovos, to explain how these new
Tax Compliance
5 Key Takeaways from the State of Indirect Tax
The State of Indirect Tax, featuring IDC, was a three-session event hosted by Sovos on April 7. It covered IDC’s thoughts on the current and
Tax Compliance
Top 5 Reasons to Attend 2022 Comply & Connect: Reporting
Every year you are invited to attend dozens of different industry conferences, with many offering high-impact keynote speakers and a great depth of potential insights
IPT
Importance of Accurate IPT Liability Calculation in Multiple Jurisdictions
There are many taxes (IPT) and parafiscal charges levied on insurance premiums throughout Europe. As a consequence of the lack of tax harmonisation, no general
Electronic Invoicing
The Global Rise of E-Transport Documents: A Comparison
With VAT gaps growing worldwide, tax authorities are introducing increasingly stringent controls aiming to tighten tax controls, increase revenue and obtain more data on the
Tax Compliance
Insurance Statutory Reporting Due Dates
Insurance statutory reporting filing due dates for the National Association of Insurance Commissioners (NAIC) are spread across the calendar year causing a jumble of different
Tax Compliance
Common Triggers of a VAT Audit
Since many audits seem to occur at random, it’s not always possible to identify the reason why a tax office would decide to initiate one.
Tax Compliance
Trends in VAT Audits – Increased Interest From the EU
A recent report released by the European Commission has stressed the need for Member States to increase the number of audits they undertake, particularly in
Electronic Invoicing
Eastern European Jurisdictions: CTC update
Eastern European countries are taking new steps concerning the implementation of continuous transaction controls (CTC) systems to reduce the VAT gap and combat tax fraud.
Tax Compliance
Will the Middle East be Next to Accelerate CTCs?
Over the past decade, the Middle East region has undergone impactful financial and fiscal changes. VAT was introduced as one of the solutions to prevent