With the increasing intensity and diversity of continuous transaction control (CTC) mandates sweeping across the world, the challenges that international companies face today may well be among the most onerous in history.
The digital transformation journey that many tax authorities around the globe are taking is having a profound impact on how companies operate and comply with law.
And yet, the end of this tax revolution caused by varying forms of digitalization is not yet in sight. Many countries around the world, particularly in Europe, have just started their individual journeys toward CTCs. Many other countries, such as Chile and Brazil in Latin America that have had them for many years, continue to add new features – both to further close VAT gaps and to add interoperability and increase economic benefits to the foundations they have built.
Against this backdrop, multinational companies need a point solution that can grow with them. Sovos is a global leader in tax compliance with global coverage and local expertise processing billions of compliance transactions each and every year on behalf of our customers.
Many companies, especially multinational corporations, feel lost among the rapid succession of CTC mandates around the world and don’t know how to avoid placing themselves in a costly and perilous corner by using a multitude of diverse local solutions. In working with such companies and their solution providers, we know how crucial it is for responsible executives to help all affected corporate functions cooperate toward forming and adopting a coherent approach that turns CTCs into an advantage rather than a risk.
Tax peace of mind
We provide our customers with complete tax peace of mind by providing the first complete global cloud solution for modern tax. Our team or regulatory experts are constantly monitoring for regulatory changes across thousands of jurisdictions.
As more tax authorities introduce tax reforms to increase efficiency and close VAT gaps, we make sure our customers are prepared and able to meet the challenges that increased compliance requirements bring. We help them stay ahead of fast-changing government regulations allowing them the breathing space to innovate and grow.
Get ready for the digital transformation of tax
Our solutions are built into the business process platforms used today, including Grant Thornton, SAP, Oracle, and Magento, providing seamless integration with one global provider and a centralized global solution.