Global Tax Determination
Despite SAP Delays, the Time to Get Tax Right is Now
With today’s announcement that SAP is extending support for its Business Suite 7 software suite until the end of 2027 many are breathing a sigh
Category: Tax Compliance
Sales & Use Tax
Louisiana Supreme Court Strikes Down Marketplace Facilitator Collection Requirement
In an interesting (but not earth shattering) development, on January 29, 2020 the Louisiana Supreme Court held that Jefferson Parrish could not hold Walmart.com liable
Tax Compliance
Insurance Trends: The Reshaping of the Insurance Market
The insurance market for 2019 was marked by two key trends: insurers implementing post-Brexit strategies, and the continuous rise of insurtech companies. But classic and
Tax Compliance
Insurance Premium Tax Across Europe – 2019 A Year in Review
Insurance Premium Tax (IPT) doesn’t represent a significant share of the total revenue generated by tax authorities. In the UK for instance, it only accounts
1099
Will AB5 Become a National Trend?
California’s Assembly Bill 5 (AB5) has sparked a national trend towards increased regulations on the gig economy. New York, New Jersey and Illinois have followed
Tax Compliance
Sovos Makes Back-to-Back Statutory Reporting Acquisitions with Purchase of Booke
In 2019, Sovos acquired Eagle Technology Management (ETM) for its history of innovation in statutory reporting and other key compliance solutions for U.S.-based insurance companies.
Global Tax Determination
Ongoing Trends in VAT Determination and Reporting
2019 was an exciting year for VAT and, given the ever-increasing pressure on governments to increase revenues, it’s likely that 2020 will be just as
1099
Starbucks Shakes Up the Banking World
Experts believe Starbucks plans to enter the financial services industry. This belief is based on the huge sum of money Starbucks holds in stored value
Tax Compliance
ECOFIN Speaks on EU VAT Reforms
Working towards a ‘Definitive VAT System’ The EU’s Economic and Financial Affairs Council (“ECOFIN”) issued a report last month. This followed its review of EU
Tax Compliance
Romania to Introduce SAF-T
Romania has the largest so-called “VAT gap,” the difference between actual and expected VAT revenues, in the European Union. According to a 2019 European Commission
Tax Compliance
Romania Cancels VAT Split Payment Mechanism Effective 1 February 2020
Controls to close the VAT gap and combat VAT fraud The VAT gap for Europe remains around €137 billion every year, according to the latest
Electronic Invoicing
Hidden USMCA Compliance Pitfalls for American Companies in Mexico
As part of the recently updated “new NAFTA,” or USMCA, Mexico is enticing companies to move operations into its maquiladora zone of factories along the
Tax Compliance
China: Draft VAT Law Review
The Ministry of Finance and the State Taxation Administration are pressing ahead with China’s VAT reform having issued a Consultation Draft of the VAT law
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See the Latest IRS FY19 Updates on Crypto and Gig Economy Enforcement
The IRS commissioner Chuck Rettig issued the agency’s FY19 updates last month, which included updates on compliance and education initiatives aimed at the emerging gig
Electronic Invoicing
A New Countdown to NSO – Italy’s Electronic Purchase Orders Platform
On 27 December 2019, the Italian government issued a decree delaying and establishing new dates for when the NSO platform would go live. The Electronic
Tax Compliance
Recent Developments: Complex Reporting Requirements in the European Union
Digital tax reporting requirements have arrived and are here to stay. As the global VAT gap continues to grow (estimated to be as high as
Tax Compliance
Technology Enhancements in Insurance
The insurance world is often seen as slow and reluctant to fully embrace technology. However, new competition from the growing number of insurtech companies and
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Take 5 Minutes to Learn This Year’s Last Minute Tax Information Reporting Changes
Tax time is upon us, which means last minute IRS and state tax information reporting changes are keeping us on our toes. Take five minutes