Trends in E-invoicing Compliance, 10th Edition

Download Sovos TrustWeaver’s paper on the trends affecting global e-invoicing compliance

The 10th edition of this paper outlines in detail the global trend towards real-time tax ‘clearance’ of invoices and how this impacts businesses in their day-to-day operations and business-to-business transaction automation strategies.

Readers will also find a summary of the regulatory status for over 60 countries, as well as an in-depth analysis of the ways tax authorities around the world use e-invoices to increase collection rates.

Since the last edition, the trend towards compulsory transaction-oriented integration of e-business systems with public authorities has continued to accelerate.  The growing consensus among e-invoicing and VAT professionals is that indirect tax controls are quickly evolving towards real-time whereby tax administrations essentially become a ‘third trading partner’ in the exchange of sales and purchasing data between suppliers and buyers.

Download this paper for our insight into how companies can ensure their push towards automation with tax administrations doesn’t end up fragmenting or even contradicting their digital transformation of business processes.

19 Things About Compliant Invoice E-archiving

Most enterprises already have one or several solutions for
storing electronic data and documents. Such content management or other applications often include excellent features for aggregation, indexing, analyzing and general management of
a company’s information resources.

However, when storing original electronic invoices and similar legally critical documents, such solutions may not offer the level of legal requirement monitoring, specific regulatory compliance features and documentation that is needed for multi-country legal archiving.

In this guide our experts look at the international requirements for compliant e-archiving and how we ensure our partners and clients remain compliant with the Sovos eArchiving solution.

Trends: Insurance Premium Tax

How can insurers survive and prosper in today’s digital age?

The tsunami of Governments making tax digital is spreading. Against this backdrop, insurance companies are under increasing pressure to protect their profit margins in the face of mounting competition from new entrants and often aged legacy systems.

This report takes a holistic view at the fate of insurance premium tax compliance. Containing thoughts and views from the Sovos global practice including our IPT, software, VAT, e-invoicing and other subject matter experts it provides an insight into the challenges governments are facing and how insurers need to adapt, to survive, and prosper in today’s digital age. It also contains some more topic specific articles drawing on our knowledge and experiences of 2018.

SAP® Central Finance and Digital Tax Compliance

Critical Prerequisites to Successful S/4HANA Digital Transformation

WHITE PAPER

Overcome the hidden barriers to your SAP Central Finance migration

For some SAP customers planning a move to Central Finance, tax compliance will not be a priority. Unfortunately, that will be a costly oversight. Today, those who fail to comply with global tax mandates face costly audits, financial penalties, decreased cash flow and damaged relationships with suppliers and customers. Non-compliance can even derail your Central Finance and SAP S/4HANA migrations altogether. And in some countries, it can bring your entire business to a screeching halt.

Get the free Compliance at the Core white paper and learn:

  • the tax compliance barriers you may have overlooked
  • how to prevent costly roadblocks
  • how tax compliance mandates will affect your Central Finance migration
  • precise steps your business can take to ensure your migration isn’t derailed due to non-compliance
  • what a successful migration to SAP Central Finance looks like

The Dark Web: A Primer for Tax Reporting Professionals

Take a journey through the dark web and learn how to get to it, who is on it, what is available on it, how it works and how to keep your tax reporting information off of it. 

Financial Institutions Struggle with New IRS Reporting Rules

Cheryl Riedlinger, tax counsel with The Tax Reporting Group, recently spoke with Sovos about issues affecting tax reporting at financial institutions. In this white paper, we delve into her perspectives on reporting trends.

Aberdeen Report Reveals Pitfalls and Concerns with FATCA and CRS

A report from Aberdeen Group reveals that early FATCA filings didn’t exactly go as planned and details what financial professionals’ main concerns are about CRS and other compliance policies. 

First UK CRS Filing: Why Existing Processes Weren’t Good Enough for Many FIs

The first CRS filing in the UK was more difficult than many tax professionals at financial institutions anticipated. FIs will need to radically rethink processes to prepare for the next one.

Sovos Corporate Best Practices Report

This report highlights the trends and best practices within the tax information reporting and compliance industry, specifically for corporate (non-financial) organizations. As the landscape of tax information reporting continues to expand with new regulatory requirements, as well as increased complexity of existing obligations, organizations are facing new and long-standing challenges to maintain compliance. This report covers these challenges and the best practices that businesses are implementing to simplify their processes and improve compliance.

Sovos Joins Wall Street Blockchain Alliance

Sovos has joined the Wall Street Blockchain Alliance, an industry leading non-profit trade association with a mission to guide and promote comprehensive adoption of blockchain technology across global markets. Read the press release. 

Brazil Nota Fiscal eInvoicing 101

e-Invoicing and fiscal compliance mandates basics explained 

Download this ebook to:

  • Understand – The basic requirements for 2016
  • Learn – How to avoid common operational issues
  • Discover – How to reduce the cost of compliance
  • Build – A list of questions to evaluate if you have the right solution in place

A Comprehensive Guide to the UK Making Tax Digital Initiative

With Making Tax Digital, the UK has set out “to become one of the most digitally advancedtax administrations in the world.” What does that mean for companies doing business there? Find out in this comprehensive guide. 

Hungary VAT Reporting

Hungary is one of several countries in Europe and beyond to have introduced technology-driven VAT compliance measures. 
 
This eBook provides an insight into Hungary’s VAT reporting regulations.

A Comprehensive Guide to Cancelling Electronic Invoices in Mexico

A major change to Mexican VAT policy took effect Nov. 1 when a new process for cancellation of electronic invoices became law. Get all the details in this definitive guide.

By the Numbers: 1099-MISC Nonemployee Compensation Reporting

This is the first in a series of reports on 1099 reporting featuring numbers not available anywhere else. In this number-filled report, discover graphics with exclusive data from Sovos on 1099-MISC nonemployee compensation reporting and understand where the future of the form lies.

A Guide to the New Complemento de Pagos in Mexican Electronic Invoicing

A mandate that requires companies to issue a supplement for the reception of payments, or Complemento para recepción de Pagos, took effect Sept. 1. The new mandate, which the Mexican tax administration (SAT) had planned on launching in January 2018 but delayed because of technical difficulties, has a major impact on payment processing and VAT calculation in Mexico.

This document is a guide to the legal and regulatory requirements of the new supplement.

Preparing SAP S/4HANA for Continuous Tax Compliance

How Tax Will Impact Key Processes in Your SAP S/4HANA Upgrade

For senior finance, IT and tax professionals, tax compliance should be a key consideration of a SAP S/4HANA implementation, a move to Central Finance, or cloud upgrade strategy. Learn how to minimize business disruption during an S/4HANA upgrade project in the wake of modern tax. 

Risky Business: How to Beat the Inefficiencies of Tax Compliance on Purchases

Americas’ SAP Users’ Group (ASUG) survey reveals a continued blind spot in proper sales and use tax obligation in the procure-to-pay process for manufacturing and wholesale organizations. This paper outlines the clear and present risks associated with an increase in audit frequency and scrutiny, current processes and technology these businesses are using for tax compliance, the performance of each compared with their peers and steps to reduce risk of tax compliance on purchases. Join ASUG and Sovos on May 22 for a special webcast presentation of the survey findings and best practices for vendor invoice and use tax management. Save Your Seat.

Colombia eInvoicing 101

eInvoicing and fiscal compliance mandates basics explained 

Download this ebook to:

  • Understand – Common terms and definitions for Colombian electronic invoicing
  • Learn – Basic process flows and what you will need to do
  • ​Discover – The required document types and government reports

Lessons Learned from Spain’s SII Rollout

Using the SII as the most recent example of a government implementing significant change to its taxation regime, this whitepaper aims to take a look on the changing landscape of taxation, what impact this is having on companies based on Sovos’ customers and partners experience and what steps they should take to adjust to these changes.