Value Added Tax
Origin of Goods – Claiming Relief on Trade Between the EU and UK
The EU-UK Trade and Cooperation Agreement (TCA) provides for tariff-free trade between the United Kingdom (UK) and the European Union (EU) but does not work
Category: Value Added Tax
Electronic Invoicing
Vietnam: E-invoicing Roll-Out in July 2022
During the last decade, the Vietnamese government has been developing a feasible solution to reduce VAT fraud in the country by adopting an e-invoice requirement
Value Added Tax
Trends: What’s Driving the Global VAT Landscape?
We recently launched the 13th Edition of our annual Trends report, the industry’s most comprehensive study of global VAT mandates and compliance controls. Trends provides
Electronic Invoicing
Turkey Expands Scope of E-Documents
Towards the end of 2021, the tax authority in Turkey published a draft communique that expands the scope of e-documents in Turkey. After minor revisions,
Electronic Invoicing
China Introduces Fully Digitized E-Invoice with New Pilot Program
The Tax Bureaus of Shanghai, Guangdong Province and Inner Mongolia Autonomous Region have all issued announcements stating they intend to carry out a new pilot
Value Added Tax
France Implements Mandatory Postponed Accounting on Imports
As a result of the 2020 Finance Law implementation, which transfers the management and collection of import VAT from customs to the Public Finances Directorate
Tax Compliance
Audio Blog: Sovos’ 13th Annual Trends Report
Sovos’ 13th annual Trends report takes an in-depth look at the world’s regulatory VAT landscape. Governments globally are enacting new policies and controls to close
Electronic Invoicing
Latest Updates in Romania: B2B E-invoicing Mandate for High-risk Products and E-transport System
With the most significant VAT gap in the EU (34.9% in 2019), Romania has been moving towards introducing a continuous transaction control (CTC) regime to
Value Added Tax
What is a VAT Health Check?
At Sovos, our consultants are the leading experts in cross-border tax, saving both time and money for our customers. In this episode of the Sovos
Value Added Tax
Brexit One Year On – What Do We Know?
The Northern Ireland Protocol regarding goods moving from Great Britain to Northern Ireland continues to cause problems, leading to calls to suspend it via Article
Value Added Tax
The Rise of E-Transport Documents
The number of continuous transaction controls (CTC) jurisdictions worldwide is increasing at a high speed. What’s equally interesting to note is a parallel development: countries
Electronic Invoicing
Eastern Europe: The Rise of CTCs
In a blog post earlier this year, we wrote about how several Eastern European countries have started implementing continuous transaction controls (CTC) to combat tax fraud and
Value Added Tax
Understanding IOSS – EU E-Commerce VAT Package FAQs
The EU e-commerce VAT package was introduced in July 2021. The new schemes, One Stop Shop (OSS) and Import One Stop Shop (IOSS) bring significant
Value Added Tax
New European Union Reduced VAT Rates Approved
The EU Council approved a proposed directive to amend rules governing reduced VAT rates at the ECOFIN meeting held on 7 December 2021. The new
Value Added Tax
How Union One Stop Shop Impacts Other Declarations
The EU e-Commerce VAT Package is nearly six months old and businesses should have submitted their first Union One Stop Shop (OSS) return by the
Electronic Invoicing
Poland’s E-Invoicing Reform: Overview of KSeF System
Since earlier this year, when the first draft continuous transaction controls (CTC) legislation was published in Poland, there’s been good progress in the development of
Value Added Tax
Mexico: Carta Porte 2.0
On 1 May 2021, the Mexican tax administration (SAT) enacted a new requirement via the new Bill of Lading Supplement (locally known as Complemento de Carta
Value Added Tax
Union OSS – Don’t be Late Registering for the EU VAT Scheme
E-commerce in the EU saw a VAT revolution on 1 July 2021, introducing the e-commerce VAT package. One of the package’s aims is to