Value Added Tax
Hungary Adopts Real-Time Reporting Regulations
Hungary’s tax authority announced in late 2016 that it would implement mandated real-time reporting starting July 1, 2017. As that date draws near, one certainty
Category: Value Added Tax
VAT Country News Summary for February 2017
Bulgaria, Lithuania, Latvia and the VAT Gap On February 22, 2017 the European Commission published its annual reports on the economic and social situation in
VAT Update – European Union tax news summary of February 2017
Recent VAT Decisions The Court of Justice of the European Union (CJEU) has recently published two decisions related to VAT: In Case C-592/15 (British Film
Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part I: Spain)
In part I of this three-part blog series, we examine how Spain is implementing electronic invoicing to better control the VAT return process. Over the
Spain Launches Real-Time Transactional E-Invoice Reporting Standards
60,000 companies required to implement new e-invoice reporting standard. With recent reports highlighting European Union members’ struggle with uncollected VAT, countries are focusing on initiatives
India Now Expected to Move to a GST on July 1, 2017 – Businesses Must Get Ready
India has debated moving to a Goods and Service Tax (GST) for over 16 years. However, recent developments — many of which have been reported
Breaking News: Movement to GST in India Likely to Take Place in July
India’s GST Council announced changes early this week that make movement to GST on July 1 likely, providing much needed clarity for business preparing for
VAT Updates – European Union tax news overview of December 2016
Here is a summary of news and updates related to value-added-tax in the European Union during the month of December 2016. Consultations on VAT Reform
VAT country by country news summary for November 2016
Welcome to our monthly summary of Value Added Tax news and insights curated and summarized by the Sovos Compliance Tax Research Team. Here is the
VAT in a Digital Age Event Wrap-up: SAF-T, Transparency, and Data Analysis Trends in VAT Compliance
Thank you to all who attended our third “VAT Compliance in a Digital Age” event on November 3 at the beautiful Sofitel – Legend the
VAT Managers Need to Prepare For Audits and the Expansion of SAF-T Rules
VAT Managers Need to Prepare For Audits and the Expansion of SAF-T Rules So far companies have not been confronted often with an audit by
VAT country by country news summary for October 2016
Welcome to the Sovos Compliance monthly summary of Value Added Tax news and insights curated and summarized by our Tax Research Team. Here is the
VAT Updates – European Union news overview for October 2016
Here is a summary of news and updates related to value-added-tax in the European Union during the month of October 2016. Publication of Draft Improvements
Vermont’s Exemption on Cloud Computing
Last year Vermont enacted legislation to be exempted from taxation sales of cloud computing (also known as remotely accessed prewritten software, Software-as-a-Service, “SaaS”, or ASP).
Tax Transparency at the G20: International Collaboration in Combatting Evasion
The fight against tax evasion was front-and-center at the 2016 G20 Hangzhou Summit, which brought together twenty global leaders of the nations with the largest
Important Administration Changes in the Sales Tax of the Commonwealth of Puerto Rico
Update from Charles Maniace, Director of Tax Research at Sovos: On October 14, 2016 the Internal Revenue Service issued an announcement stating, “…to ensure a
Tales from the 2016 IPT Sales Tax and VAT Symposia
Overview of common tax gap theme at the recent 2016 Sales Tax Symposium and the 2016 Value Added Tax Symposium, both sponsored by the Institute
Value Added Tax
Standard Audit File for Tax (SAF-T): Online Tax Reporting Forces Transparency
A number of countries have started implementing a process for submitting transaction data to taxing authorities. Standard Audit File for Tax (SAF-T) was initially agreed