Tax Rules, Mandates and Regulations

Keep up on what’s happening in the digital transformation of tax worldwide.

Indonesia’s VAT requirements

Indonesia’s VAT requirements Indonesia’s e-invoicing system and continuous transaction controls After experiencing challenges in its tax control system, Indonesia adopted an e‑invoicing system, locally known

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Israel E-invoicing

Israel E-Invoicing Plans for a continuous transaction controls system In an effort to combat VAT fraud, Israel is undergoing a tax reform. Currently under an

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Romania’s VAT regime

Romania’s VAT regime Romania introduces measures to digitally transform its tax administration and close the VAT gap Seeking to close its VAT gap, the Romanian

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Portugal’s VAT Regime

Portugal’s VAT Regime Portugal pushes further ahead with VAT digitization Back in 2019, Portugal passed a mini e-invoicing reform consolidating the country’s framework around SAF-T reporting and

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E-Invoicing India

E-Invoicing India

India’s Continuous Transaction Control e-invoicing model applies to both domestic and cross-border transactions India E-Invoicing Under the new Goods and Services Tax (GST) framework, the

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myDATA Greece

Greece to introduce Continuous Transactions Controls (CTCs) for domestic and cross-border transactions Greece myDATA Greece introduced a new Continuous Transaction Controls (CTC) scheme, myDATA –

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E-Invoicing (Mexico)

MEXICO E-INVOICING Mexico has one of the oldest and most complex sets of electronic invoicing regulations in the world. For more than a decade, Mexico

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E-Invoicing (Colombia)

e-invoicing Colombia’s tax authority, the DIAN, has introduced changes to its e-invoicing model With lessons learned from the first iteration of e-invoicing in Colombia, the

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E-Invoicing (Brazil)

Brazil e-invoicing regulations Brazil has a mature but extremely complex e-invoicing system In 2008, Brazil adopted a clearance electronic invoicing model in which the country’s

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Saf-T Norway

SAF-T Norway

Norway’s VAT Requirements Norway’s SAF-T reporting requirements are evolving as tax continues to digitize ReformDesigned to reduce the compliance burden and administrative costs associated with

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SAF-T Poland

Poland

Poland’s VAT Requirements Poland’s CTC and SAF-T framework In an effort to modernise its tax systems and close the VAT gap, Poland’s tax authority, the

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SII Spain

SII Spain

Spain has a near real-time reporting system for domestic transactions Spain SII Spain is one of the first EU nations to adopt the Continuous Transaction

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RTIR Hungary

RTIR Hungary

Hungary has been a pioneer in Continuous Transaction Controls (CTC) approach in the EU RTIR Hungary In 2018, Hungary established a legal framework requiring taxpayers

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France E-Invoicing

E-Invoicing France

France, One of the EU’s Largest Economies, introduces Continuous Transaction Controls France E-Invoicing from 2024 France is introducing continuous transaction controls (CTCs). From July 2024 to January 2026, France

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Italy E-Invoicing

Italy Is the first Clearance E-Invoicing Model in the EU for all VAT transactions. Italy: a pioneer of the automated e-invoice process. Italy has been

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E-Transformation Turkey

Turkey’s E-Transformation Journey Turkey has one of the most established Continuous Transaction Controls (CTC) systems in place outside of Latin America Turkey’s e-transformation started with

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BREXIT VAT

Post-Brexit: Businesses Must Have a VAT Compliance Plan-of-Action in Place Brexit is here UK and EU businesses need to rise to the VAT compliance challenge

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Value Added Tax Products

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Black Friday Countdown: Are You VAT Ready with OSS?
Oct 14, 2021
Black Friday Countdown: Are You VAT Ready with OSS? Time: 14:00 BST / 09:00 EDT  Date: October 14, 2021 On 26 November, Black Friday presents […]
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Simplify EU VAT with IOSS – Unlock the EU E-Commerce Market
Sep 22, 2021
Simplify EU VAT with IOSS – Unlock the EU E-Commerce Market Time: 3:00pm BST / 10:00 EDT  Date: September 22, 2021 Join our latest webinar […]
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Blog

VAT on Non-Fungible Tokens (NFTs)

The recent popularity of non-fungible tokens (NFTs) has captivated investors, governments and tax authorities. An NFT is a digital asset that represents real-world objects such as a piece of digital art, an audio clip, an online game or anything else. NFTs are purchased and sold online and are typically encoded with the same software as […]

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In Focus: Why is Italy’s IPT Regime so Challenging?

Tax compliance in Italy – where do we start? From monthly tax settlements to an annual declaration, prepayment, additional reporting and treatment of negative premiums – all these factors make Italy unique and one of the most challenging jurisdictions from an insurance premium tax (IPT) compliance perspective. Let’s break it all down: Insurance taxes IPT […]

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Reciprocity Agreements and Why They Matter When Recovering VAT

Sovos recently hosted an online webinar on VAT recovery where we covered reciprocity agreements between the UK and EU Member States when making 13th Directive VAT refund claims. One of the questions that kept coming up is what are reciprocity agreements and why do they matter? Reciprocity When making 13th Directive refund claims, each EU […]

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Draft Resolution Introduces Changes to Peru’s E-transport Document

E-invoicing was introduced in Peru in 2010, following the continuous transaction controls (CTC) trend in Latin American countries for a more efficient collection of consumption taxes. Since then, the government has rolled out measures to encompass a significant number of taxpayers under the country’s mandatory e-invoicing regime and advance new technical and institutional structures within […]

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Belgium Steps Closer to Mandatory E-Invoicing

In line with the obligations set by the European Directive 2014/55 on electronic invoicing in public procurement, Belgium introduced a mandate for public entities to receive and process electronic invoices in 2019. For Brussels, Flanders, and Wallonia the initiative went beyond the bare minimum of the EU Directive requirements and introduced obligations to also issue […]

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How to Prepare for a VAT Audit

Our previous articles covered audit trends we have noticed at Sovos and common triggers of a VAT audit. This article discusses the best practices on how to prepare for a VAT audit. Each country and jurisdiction may have different laws and requirements related to the VAT audit process. Tax authorities can carry out audits in […]

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Deep Dive – Portugal’s Stamp Duty Requirements

The most recent update to the Portuguese Stamp Duty system has included some of the most comprehensive tax reporting changes seen in recent years. Stamp Duty is the oldest tax in Portugal and has been around since the Royal Decree in 1660. Considering its age, updates to bring it in line with the global standard […]

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Importance of Accurate IPT Liability Calculation in Multiple Jurisdictions

There are many taxes (IPT) and parafiscal charges levied on insurance premiums throughout Europe. As a consequence of the lack of tax harmonisation, no general rules can be applied to establish which taxes exist in which countries and how to calculate the correct IPT amounts. Some insurers do not have a dedicated IPT team; this […]

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Portugal: Postponement of the Stricter Authenticity and Integrity Requirements

In 2019, the Portuguese government enacted Law Decree n. 28/2019, introducing a full reform of the rules concerning the issuance, processing and archiving of invoices, with the main goals of implementing electronic invoicing, simplifying compliance for taxpayers and reducing the VAT gap. The expanded scope of those obliged to use a billing software certified by […]

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E-invoicing in Italy – Upcoming Changes From July 2022

Since becoming the first EU country to make electronic invoicing mandatory through a clearance process in 2019, Italy has kept a steady pace in improving its continuous transaction controls (CTC) system to close the gaps in VAT compliance. Over recent years, Italy has gradually expanded its system by introducing various mandates. The following changes reflect […]

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Saudi Arabia: E-invoicing Phase 2 Developments

Saudi Arabia´s e-invoicing system is being rolled out in two phases; the second phase’s requirements differ from the first phase. The first phase started as of 4 December 2021 for all resident taxable persons. The second phase will go live on 1 January 2023, and the impacted taxpayer group has not yet been announced. However, […]

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Meet the Expert: Hooda Greig, Compliance Services Manager – IPT

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to know about new regulatory changes and the latest developments on tax regimes across the world, […]

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The Effect of Inflation on VAT Rates

It’s no surprise that inflation is on the forefront of everyone’s mind, with prices continuing to sky-rocket month by month. Data from the United Kingdom shows that the Consumer Prices Index (CPI) inflation jumped to a 40-year high of 9% in the past 12 months. Governments around the world are looking for ways to reduce […]

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Common Triggers of a VAT Audit

Since many audits seem to occur at random, it’s not always possible to identify the reason why a tax office would decide to initiate one. We’ve previously spoken about an increased interest in audits from the EU and audits for e-commerce. This article covers the most common reasons behind a VAT audit to help businesses […]

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What Businesses Need to Know About the Romanian E-Transport System

Romania is introducing a mandatory e-transport system from 1 July 2022 to monitor the transport of certain goods in the national territory, an initiative that will operate in parallel with the newly launched continuous transaction controls (CTCs) system for e-invoicing. This means that in a little over a month’s time, the issuance of an e-transport document […]

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Trends in VAT Audits – EU Focus on E-commerce

Continuing our series on VAT audits, we take a closer look at the trends we’ve seen emerging in the activities of the EU Member States’ independent tax administrations throughout the European Union. In a recent report from the European Commission (EC) specific guidelines were published not only on best practices but also on how EU […]

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Deep Dive – Insurance Premium Tax in France

France is known for its challenging Insurance Premium Tax (IPT) filing system. Understanding which tax authorities you need to register with, file with and talk to when you have questions is essential to meeting your business’s IPT compliance obligations. In this blog, we identify France’s IPT tax authorities and explain what makes IPT so different […]

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VAT for Virtual Events – Exemption, Hybrid Events and Reduced Rates

In a recent blog, we considered the upcoming changes to the VAT treatment of virtual events. Today, we will consider some of the issues that may arise. Exemption from VAT Many hosts currently use the available educational or fundraising exemptions, especially where the delegates are private individuals without the right of deduction, e.g., doctors. For […]

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Content Library

Don’t just take our word for it. There’s a reason Sovos products are used by over half the Fortune 500 and the world’s smartest companies.

SAF-T Global Standards e-book: The challenges for businesses

SAF-T (Standard Audit File for Tax) is an international standard for the electronic reporting of accounting data from organisations to a national tax authority or external auditors used by tax administrations to gather granular data from businesses either on demand or periodically.

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Bridging the IT-Tax Compliance Gap

Sorting out indirect tax issues was not traditionally at the top of any IT organisation’s to-do list. Today that’s changed and new VAT compliance mandates being introduced at an increasing rate around the world have elevated its status.

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Ebook: Simplify EU VAT with IOSS

The EU E-Commerce VAT Package came into effect on 1 July 2021. And with it, the need for operational change, business disruption and plenty of accounting complexity.

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Understanding VAT Obligations: European Events

Download our guide to VAT registration and place of supply rules for events, conferences and exhibitions in the European Union.

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Infographic: France – Mandatory B2B e-Invoicing 2024

France – Mandatory B2B e-Invoicing 2024 Faced with a VAT gap of nearly €13 billion, France is introducing mandatory e-invoicing for business-to-business (B2B) transactions from 2024, as well as e-reporting of additional data types. Applying to all companies established or, for e-reporting, VAT-registered in France, this new mandate is complex. It will also require significant […]

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How Tax Compliance Impacts Supply Chain Globalisation

A detailed look into crucial elements of tax compliance – inform your VAT strategy and reap the benefits of an efficient global supply chain.

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eBook: IPT Compliance – A Guide for Insurers

Keeping up to date with the latest rates, rules, and regulation of Insurance Premium Tax (IPT) is a challenge for insurers. Not to mention this is especially complex for insurers writing across multiple territories.

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IPT Compliance – Taking Care of the Detail So You Don’t Have To

At Sovos, we are IPT compliance specialists and we solve tax for good. Insurance Premium Tax is one of our specialisms, and we know it well.

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VAT Managed Services: Blending human expertise and software

Let Sovos’ VAT Managed Services manage your VAT compliance obligations. VAT reporting and returns. Continue to trade with confidence.

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EU E-Commerce VAT Package: New Rules for 2021

From 1 July 2021, the existing Mini One Stop Shop (MOSS) scheme transitions to a new framework. This is the 2021 EU e-commerce VAT package. This e-book guides you through the EU’s OSS, IOSS and the new VAT rules for e-commerce.
This edition of “Trends” is the first to expand its scope well beyond e-invoicing compliance to the full universe of continuous transaction controls, including e-archiving, and VAT determination and reporting.

Governments worldwide are moving rapidly toward adopting clearance e-invoicing, making them real-time trading partners in business-to-business transactions. At the same time, corporations are launching massive IT projects to migrate enterprise resource planning (ERP) implementations to a powerful new generation of systems, including SAP S/4HANA.

As a result, VAT compliance has never been as complex or as critical as it is now. Companies that mishandle it risk halting or even reversing their own digital transformations. This report provides a path to compliance, as well as comprehensive updates on global mandates.

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Infographic: Get Ready for the 2021 EU e-Commerce VAT Package

If you’re an EU business with B2C sales in other EU Member States or based outside the EU with B2C sales to the EU, 1 July 2021 will bring significant change.

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Your SAP S/4 Migration and ‘Always On’ VAT Compliance Are on a Collision Course – Here’s How to Manage

If you’re an SAP user and you want to better understand your options in moving to S/4 in relation to tax compliance, this story should help.

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