Search Results for: Sovos acquire – Page 5

next era of DtC wine shipping

The Next Era of DtC Wine Shipping Starts Now

By Andrew Adams, Editor, Wine Analytics Report The winery market has entered the next era of DtC wine shipping, where we saw total shipments for the past year declined 1.6% by value and 10.3% by volume. While the declines are unprecedented in the more than 12 years Wines Vines Analytics

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California voluntary compliance program

How to Prepare for the Pending California Voluntary Compliance Program

In our recent blog, “California – One Step Closer to a Voluntary Disclosure Program,” Freda Pepper outlined everything we currently know about the program, including who will be eligible to participate, a requirement to complete an education program, timeline requirements and, most importantly, the benefits related to completing the program.

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california voluntary disclosure program

California – One Step Closer to a Voluntary Disclosure Program

On September 13, 2022, California Governor Gavin Newsom signed AB 2280 into law, paving the way for the creation of a long-awaited Voluntary Compliance Program (VDA Program). However, before such a program can be implemented, two things must take place. First, the California legislature must approve funding for the program by

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VAT Exempt Supplies: Selling under Ex Works Clause

A recent preliminary ruling request to the European Court of Justice, Case C-664/21, NEC PLUS ULTRA COSMETICS, has re-emphasised the importance of collecting documentation when carrying out a zero-rated supply in the EU. The 2017 NEC PLUS ULTRA COSMETICS case involved a company established in Switzerland selling cosmetics products under

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Japan’s Tax System

Japan’s Tax System Japan’s Tax System Starting with the introduction of a multiple tax rate system in 2019, Japan is in the middle of a multi-year process of upgrading its consumption tax system. Through this significant change, the Japanese government seeks to solve a tax leakage problem that has existed

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

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

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Israel’s CTC Reforms and e-Invoicing Tax Changes

Israel e-invoicing Israel is set to implement a continuous transaction controls (CTC) model that will require businesses to submit invoice data in electronic format for the tax authority to validate. The mandate, set to come into force in May 2024, will require invoice data to be validated by the country’s

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unclaimed property mergers and acquisitions

Tax and Unclaimed Property for Mergers and Acquisitions

Mergers and acquisitions (M&A) have always been inherent in the financial institution landscape but have recently increased at an unprecedented pace. A recent Fortune.com article indicated a whopping $2.4 trillion in M&A deals in 2021, up 158% from last year. In February 2022, the FDIC prioritized policy updates to the

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Paraguay’s New E-invoicing System to Gradually Become Mandatory From July 2022

Paraguay’s New E-invoicing System: All Updates You Need To Know

Update: 05 January 2023 by Andres Landerretche More taxpayers join the Electronic Invoicing System of Paraguay (SIFEN) Since Paraguay started implementing its National Integrated System of Electronic Invoicing (SIFEN) plan in 2017, the Undersecretary of State for Taxation of Paraguay (SET) has carried out the process. The different phases are:

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Oregon Iowa self-distribution

Retention Pays Off Big with Increase in DtC Wine Shipping

By Andrew Adams, Editor, Wine Analytics Report This year’s annual Direct-to-Consumer Wine Shipping Report featured an additional set of data to help put the past two years of unprecedented winery shipment growth in context. Since the surge of shipment volume in March and April 2020, there has been sustained interest

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DtC wine

Beating the Post-Holiday Sales Slump with DtC Wine

By Zach Kamphuis, Vice President of Business Development at Commerce7 October, November and December represent the best direct-to-consumer (DtC) sales months for many wineries. With the 2021 holiday season now behind us, how can wineries capitalize on the new customers gained through the past months and avoid falling into a

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Alvaro Gonzalez

As managing director for the Americas region, Alvaro leads multiple Sovos initiatives, including integrating acquired companies and technologies into our strategic solutions and product offerings. Alvaro believes that adopting a client first approach helps to better understand customer needs and focus on solving specific problems across regions. Alvaro joined Sovos

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Colombia E-Invoicing

Electronic invoicing in Colombia Electronic invoicing in Colombia, often referred to as Colombia facturacion electronica, is mandated for established taxpayers. While it was an early mover in giving legal weight to e-invoices, Colombia’s mandate only came into effect in 2019 and has been subject to change since. Understanding the specificities

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5 Ways to Improve Back Office Financial Systems for 1099 Tax Reporting

Finding all-in-one back office systems to help manage the day-to-day operations of a financial institution or insurance company can seem like an impossible task. Having all your organizational products, processes, channels, customer information and management tools in one place can save you time, increase efficiency and reduce your risk of

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oil gas unclaimed property

Accounting and Reporting for Unclaimed Property

Unclaimed property management can fall under a variety of responsibilities ranging from CFO to accounting—but typically resides within the accounting or financial reporting departments. Every company generates potential unclaimed property through regular business functions such as payroll. With over 80% of companies considered non-compliant with unclaimed property laws and regulations

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oil gas unclaimed property

Energy, Oil & Gas Industry in Unclaimed Property

This blog was updated on January 11, 2023. Unclaimed property compliance for energy, oil and gas companies can be an especially complex process due to various industry-specific nuances and intricacies. Exclusive property types, such as net revenue interest and royalty payments, title disputes, and operationally intensive state requirements all contribute

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Spain Extends SII Scope From 2021

The tax authority in Spain, Agencia Estatal de Administración Tributaria (AEAT), aiming to enhance the Immediate Supply of Information (SII) version 1.1, has introduced new validations and fields to the schema expected to be enforced from 1 January 2021. The new fields will record the sales of goods in consignment

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