Intrastat is an obligation created in 1993 that applies to certain businesses that trade internationally in the European Union. Specifically, it relates to the movement of goods – arrivals and dispatches – across EU Member States. The requirements of Intrastat remain similar across the EU, though certain Member States have
Bizkaia is a province of Spain, and a historical territory of the Basque Country, with its own tax system. Before the approval of the Batuz strategy, the Bizkaia tax authority developed different approaches to implement a comprehensive strategy that would reduce tax fraud. The goal was to stop fraud from
Insurance Premium Tax: Your IPT Guide Who should read this Guide? This guide to Insurance Premium Tax (IPT) is for insurers, brokers and anyone needing to understand IPT compliance. From tax managers to financial controllers and compliance managers, this guide provides information and advice for all those working in tax
Update: 3 November 2022 by Russell Hughes Making Tax Digital – Filing VAT Returns through Online VAT Account to become redundant From Tuesday 1 November 2022, businesses filing VAT returns in the UK will no longer be able to submit via an existing online VAT account unless HMRC has agreed
France is implementing a decentralised continuous transaction control (CTC) system where domestic B2B e-invoicing constitutes the foundation of the system, adding e-reporting requirements for data relating to B2C and cross-border B2B transactions (sales and purchases). Under this upcoming regime, data or invoices can be directly sent to the Invoicing Public
Update: 2 March 2023 by Kelly Muniz Postponement of EFD-REINF Deadline for Events Referring to Withholding IRPF, CSLL, PIS and COFINS The publishing of Normative Instruction RFB n. 2.133, of 27 February 2023 postpones the deadline of the obligation to submit EFD-REINF (Digital Fiscal Record of Withholdings and Other Fiscal
There are several countries within the European Union (EU) and European Economic Area (EEA) that have introduced a Fire Brigade Tax (FBT). Fire Brigade Tax is payable on certain premium amounts and usually in addition to Insurance Premium Tax (IPT). Fire Brigade Tax, or the Fire Brigade Charge (FBC) or
Clarity in Times of Uncertainty Tax compliance doesn’t need to be taxing. We’re here to help wherever you are on your compliance journey. Whether expanding into new markets, protecting supply chains or already operating cross-border trade, Sovos is your tax compliance partner. We take care of the details so you
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 regulatory changes and developments in global tax regimes,
An increasing insurance premium tax (IPT) trend is using transactional level information in various returns and reports. Preparation and education are key to ensuring details are being captured on an ongoing basis rather than at the last moment. Furthermore, in some cases where legacy systems are being utilised and don’t
The Philippines continuous transaction controls (CTC) Electronic Invoicing/Receipting System (EIS) has been officially kicked off for the 100 large taxpayers selected by the government to inaugurate the mandate. Although taxpayers were still struggling to meet the new e-invoicing system’s technical requirements just before the go-live date, the Philippines upheld its
The complexities of Spain’s insurance premium tax regulations can be daunting for anyone responsible for IPT reporting and compliance for this country. Apart from the different tax authorities involved with Spanish IPT reporting and various submission processes, there are also many different declarations that tax compliance teams must be aware
Last updated: 19 July 2023 Insurance Premium Tax in Croatia Under the Freedom of Services (FoS), Croatia currently levies an Insurance Premium Tax (IPT), Compulsory Health Insurance Contributions (CHIC) and Fire Brigade Charge (FBC) on the premium amounts of insurance policies written by EU and EEA insurance companies. In Croatia,
Update: 12 September 2023 by Robson Satiro de Almeida Tax Reform in Brazil: Simplification Statute Published Recent developments in Brazil indicate changes on the horizon, as the country continues to move towards a tax reform for simplification of e-invoicing obligations. A significant reform of ancillary tax obligations is underway aiming
The European Commission’s “VAT in the Digital Age” initiative reflects on how tax authorities can use technology to fight tax fraud and, at the same time, modernise processes to the benefit of businesses. A public consultation was launched earlier this year, in which the Commission welcomes feedback on policy options
Annual reporting requirements vary from country to country, making it complex for cross-border insurers to collect the data required to ensure compliance. Italy has many unique reporting standards and is known for its bureaucracy across the international business community. Italy’s annual reporting is different due to the level of detail
The IDC MarketScapes highlight Sovos as “dependable cloud tax software capable of supporting the compliance and regulatory demands on businesses of every size” BOSTON – October 11, 2021 -Global tax software provider Sovos today announced it has been recognized as a Leader in both the “IDC MarketScape: Worldwide SaaS and
Maximise efficiency with the first end-to-end solution for IPT Automate jurisdiction-level summary reporting, remittance & payment for insurance premium tax. Centralise Data & Guarantee Accuracy Sovos IPT Reporting Sovos is serious about regulatory analysis. It is a foundational core strength of our company around which we have built agile software