IPT
Why IPT Reporting is so Complex for Insurers
Accurately calculating insurance premium tax (IPT) for reporting can be complex. And the ramifications of getting it wrong can be far reaching from impacting profit
Category: Tax Compliance
Regulatory Analysis
The Future of VAT in Northern Ireland
As negotiations to determine the future relationship between the EU and UK beyond the end of the transition period resume, after a COVID-19 initiated pause,
Sales & Use Tax
Making the Case: Seven Benefits of Automating Your Tax Exemption Certificate Management Process
Tax exemption certificate management might not be the topic at the forefront of every executives mind, but if your organization is serious about reducing the
Electronic Invoicing
Albania’s New Tax Reform: Fiscalization
Following the trailblazing efforts by countries such as Italy, Hungary and Spain, this past year has seen an increase in European countries announcing digital tax
Global Tax Determination
Sovos Acquires Taxweb, Extends Tax Determination Capabilities in World’s Most Challenging Compliance Landscape
Earlier this month Sovos announced its second acquisition of 2020, completing our solution for Brazil with an unparalleled offering that solves tax compliance in the
IPT
Is COVID-19 Rewriting the Rules for How Insurers Cover Epidemics?
Coronavirus has already immeasurably changed how we live, work, travel and socialise, and the insurance industry is certainly no exception. Looking back, policies agreed at
Sales & Use Tax
Be Wary of the Tax Implications of the COVID-19 Surcharge
As businesses begin to re-open as lockdown orders and advisories are lifted, accounting for the increased cost of doing business is top of mind. The
1099
The Top 4 Tips for Insurers Issuing Form 1099-SB
In February, some of the largest U.S. insurers came together for a Sovos-sponsored virtual forum. The forum focused on how these insurers managed their reporting
1099
Prepare for New 1099-K Reporting Requirements Across the U.S.
A trend is emerging across the country. In the last year, Illinois, Virginia, Florida and Maryland changed their reporting requirements for the 1099-K. Below are
Tax Compliance
In Focus: Easing the Pain of Negatives for Insurers
Anyone involved in insurance premium tax (IPT) compliance will be only too aware of negatives. Sadly, they almost always cause a headache and not only
IPT
Navigating IPT Regimes Across the French Overseas Territories
As we all know, insurance premium tax (IPT) differs country to country and if your company writes insurance cross border, tracking every jurisdiction’s IPT rate
E-archiving
E-Archiving for VAT: Compliance in a Digital World
Compliant archiving of original invoices and similar tax-relevant documents has long been overlooked. As companies gradually made the move to digitize existing paper processes, invoicing
Tax Compliance
Preparing for Poland’s New JPK_VAT Structure
We recently reported the Polish government’s decision to delay introduction of the new JPK_VAT with a declaration structure until 1 July 2020. This move is
IPT
Portugal – New Stamp Duty Filing Requirements Delayed
The global tax landscape is rapidly changing as more tax jurisdictions require detailed electronic transactional reporting. This trend also applies to premium taxes, with Spain
Electronic Invoicing
Finland Expands Adoption of E-Invoicing
Finland’s government already receives over 90% of invoices electronically. Aiming to expand the use of e-invoices in B2B transactions, the country has granted B2B buyers
Tax Compliance
The Danger of Unclaimed Property for Healthcare Providers
Healthcare providers build up patient credit balances from collecting more coinsurance, copays, and deductibles than they earn. Unfortunately, because the fees are unearned, the healthcare
IPT
Spain’s Tax System – The Complexities of Compliance
Spain’s tax system is one of the most complex in Europe. For this reason, it presents a unique challenge for insurers when it comes to
IPT
What Cross-Border Insurers Need to Know About French, Spanish and Portugese IPT
When operating across multiple regions, it’s challenging to stay abreast with every jurisdictions’ insurance premium tax (IPT) rates, particularities and exemptions. Country-specific filing and audit