Despite ‘panic’, Italian e-invoicing seems to have landed smoothly

This article from International Tax Review reporters Joe Stanley-Smith and Alexander Hartley looks at Italy's new e-invoicing regime, which came into effect on January 1. Companies expected teething trouble, but the early signs are positive and the changes should lead to long-term benefits. 

Sovos Alliances Sales Manager Filippa Jornstedt tells International Tax Review, "I don’t think there’s any going back from a clearance introduction. The tax authority gets so much crucial data; they get a complete understanding of the size of the economy. There’s no going back."

[Read the article here.] 

Tax Information Reporting United States
2019-03-12
New Sovos Tax Information Reporting Solution Solves Escalating Tax Challenges for Accounts Payable Leaders

Already regarded as the best 1099 reporting tool on the market, the recently upgraded Sovos Tax Information Reporting signed 150 new corporate and financial institution clients in just three months Sovos’ new TIR solution is the only product able to perform real-time taxpayer identification number (TIN) checks and offers a simplified data import, consolidating information […]

Read More
2019-03-08
INSIGHT: How are Governments Tackling the Great VAT Gap?

In this piece for BloombergTax, Christiaan Van Der Valk, VP of Strategy at Sovos, examines the global VAT gap, through which governments lose billions every year. With such high levels of loss, how can governments confront the problem? Latin America offers lessons. Read more

Read More
2019-02-19
Sovos Joins Wall Street Blockchain Alliance

Sovos has joined the Wall Street Blockchain Alliance, an industry leading non-profit trade association with a mission to guide and promote comprehensive adoption of blockchain technology across global markets. Read the press release. 

Read More
Sales & Use Tax
2019-02-05
Platforms: Where the real ‘Wayfair’ money is

This article from International Tax Review reporter Alexander Hartley cautions vendors to beware of getting caught between states and their sales tax collection, as online platforms like eBay and Amazon now represent big cash prizes — and a host of technical complications — in the wake of the South Dakota v. Wayfair Supreme Court decision. […]

Read More
E-Invoicing Compliance Italy
2019-02-05
Will clearance e-invoicing spread through the EU?

International Tax Review reporter Joe Stanley-Smith writes that governments around the EU are watching Italy to see if its new mandatory e-invoicing system (Sistema di Interscambio, or SDI) works, and whether it is effective in increasing the VAT intake.  Sovos’ Filippa Jörnstedt says, “My guess would be that the next country to introduce a clearance e-invoicing […]

Read More