It is time to get ready for the digital transformation of tax with Sovos VAT solutions.
New VAT reporting requirements are sweeping across the world with increasing intensity and diversity. Tax authorities are on a digital transformation journey, profoundly impacting how companies operate and comply with VAT law. As a result, the challenges that a company trading cross-border faces today may well be among the most onerous in history.
We are here to help.
The Rise of Continuous Transaction Controls
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 Continuous Transaction Controls (CTC). Then there are other countries such as Chile and Brazil in Latin America that have had them for many years. They continue to add new features to further close VAT gaps and to add interoperability. As a result, these additions increase economic benefits to the foundations they built.
Multinational companies need a global VAT solution that grows with them. Many companies feel lost among the rapid succession of CTC mandates around the world. They 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
Sovos is a global leader in tax compliance with global coverage and local expertise. We process more than three billion tax compliance transactions every year in more than 100 countries. Our global coverage is supported by over 1,700 employees in more than eleven countries.
We provide our customers with complete tax peace of mind by providing the first complete global cloud solution for modern tax. Our team of more than 100 regulatory experts constantly monitor the VAT landscape 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. We ensure they’re able to meet the challenges that increased compliance requirements bring. We help businesses 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. Sovos provides seamless integration with one global provider and a centralized global VAT solution.