News
Further EU VAT Measures in Response to Coronavirus
Sovos recently published a blog regarding prospective measures EU member states are taking in response to the Covid-19 pandemic. Included below are additional actions introduced
Category: Tax Compliance
1099
The Top 5 Ways Coronavirus is Affecting Your Business’s Tax Reporting Obligations
The Coronavirus Aid, Relief and Economic Security (CARES) Act addresses the economic impacts of the COVID-19 outbreak. It authorizes emergency loans to distressed businesses, payouts
1099
The Top 5 Challenges of Forms 1099-LS and 1099-SB
Forms 1099-LS and 1099-SB were born out of the 2017 Tax Cuts and Jobs Act (TCJA) as part of the Life Settlement reporting section. They
Electronic Invoicing
Vietnam’s E-invoicing Mandate – Delayed Until 2022
The Ministry of Finance in Vietnam recently presented a draft decree to the Prime Minister for ratification, indicating that the go-live date for mandatory e-invoicing
E-archiving
Turkey Publishes Storage Guidelines for E-Ledger
On 3 April 2020, storage guidelines for e-ledger were published by the Turkish Revenue Authority (TRA). The guidelines set out the requirements and standards for
Sales & Use Tax
GoKeyless: We Thought We Were Ready For Wayfair, We Were Wrong
GoKeyless Journey 3-part Q&A blog series This three-part blog series will cover the journey of GoKeyless as they struggle to deal with the initial impact
IPT
IPT Calculations: The Importance of Getting it Right
We are in unprecedented times where hour-by-hour change has become the new norm. This is particularly true across our industry as governments evaluate and assess
Tax Compliance
Turkey Postpones Submission Deadlines of E-Ledgers Due to COVID-19
On March 26, 2020, TRA published an announcement that postpones the deadlines for submitting e-Ledgers and e-Ledger summary reports ( berats). While the impact of
Sales & Use Tax
Tax Considerations for Good Corporate Citizens
The COVID-19 pandemic has fundamentally changed the business landscape of our country in a matter of weeks. The demand for products such as paper products
Electronic Invoicing
India Amends E-Invoicing Rules
India’s e-invoicing reform has been introduced as a very important step towards digitizing the country´s tax controls. Even though the reform has been under discussion
E-archiving
Beyond Tax Reliefs: The Impact of Covid-19 on E-Archiving
The economic impact and consequences of coronavirus are unprecedented as it spreads across different countries. To protect their markets, many countries have reacted by loosening
Sales & Use Tax
Keep Your Company Safe from Audit Risk While Adapting to COVID-19
Tax compliance has always been a balancing act – directing available energy and resources on those activities and solutions that will do the most to
Tax Compliance
Norway and the Trend to Taxing Low Value Goods
From 1 April 2020, Norway will require non-resident suppliers of “low value” goods to Norwegian consumers to charge VAT on such supplies. Norway is the
Electronic Invoicing
B2B Transaction Automation Platforms: Quantifying the VAT Compliance Advantage
In the past five years, transaction automation platform vendors who embraced e-invoicing and e-archiving compliance as integral to their services grew on average approximately 2.5
Electronic Invoicing
Turkey’s Digital Transformation and E-Invoicing Landscape
For companies operating in Turkey, 2019 was an eventful year for tax regulatory change and in particular, e-invoicing reform. Since it was first introduced in
Electronic Invoicing
Greece myDATA Legislation Updates
New go-live date for myDATA legislation A new roll-out date for the myDATA e-books mandate was announced by the Greek tax authority, the IAPR, during
News
EU VAT Measures in Response to Coronavirus
Countries worldwide are introducing indirect tax measures intended to mitigate the economic consequences of the coronavirus pandemic. Prospective measures by EU Member States include:
1099
Sports Cancellations Cost States Big Time
This year’s sports cancellations, including the NBA and March Madness, have left many states with far fewer tax dollars than expected. Since it was legalized