Electronic invoicing in Peru Peru is far along in its e-invoicing journey, having implemented a mandate for all taxpayers to issue and receive electronic invoices. Regulated by the country’s Electronic Issuance System, e-invoicing was introduced in 2010 – though it was initially voluntary. The e-invoicing scheme in Peru includes more
Like many of you, I read the news that Vertex had officially moved forward with plans to acquire Pagero with interest. This hardly comes as a surprise. These two companies already had a commercial relationship and since their October public announcement of a strategic partnership, a number of industry insiders
As the U.S. economy teeters on a recession and budget shortfalls emerge, states begin searching for ways to expand sales tax revenue. Companies that offer subscription streaming services are increasingly finding themselves the targets of newly proposed taxes and attempts to expand and contort existing taxes to include streaming providers.
As a business, complying with local laws, rules and mandates is not optional, but a requirement to operate. Achieving this takes resources: human, technical and financial. All things that everyone would rather allocate to attracting new customers and growing their business. At Sovos, we get it. The situation The world
Credit.org recently released an excellent article on the five dangers of credit card use. In reviewing the factors that author Melinda Opperman puts forth, it was impossible to ignore the parallels in which many businesses approach their compliance management practices. As credit cards are something that most people have and
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
In addition to selling automated solutions, software-as-a-service (SaaS) companies often provide a variety of related services, including configuration, implementation, training, testing, bug fixes, technical support, and software enhancements. Each of these services could have sales tax consequences different from those applicable to the underlying software. Even more challenging, the rules
While the wave of litigation to remove legal barriers to retailer direct-to-consumer (DtC) keeps crashing against the breakwaters of district courts, a recent ripple in the courts may signal a potential shift in rules around self-distribution, which could have deep effects on the industry in the years to come. First,
Businesses use software for everything, and for many companies, the aggregate cost of all their software licenses represents an enormous expense. When purchasers of business software acquire or renew their license, negotiations around the total price of the solution are often rigorous and sometimes even contentious. This is understandable as
What is TicketBAI? TicketBAI is a joint project of the Provincial Treasuries and the Government of the Basque Country with the objective of implementing a series of legal and technical obligations for the taxpayers’ invoicing software. These obligations allow the tax authorities to control their economic activities, especially those in
When most businesses think of unclaimed property, they likely consider outstanding checks issued from primary operating accounts, overlooking other sources that may hold potential exposure. Failure to recognize these exposures could result in significant interest and penalty assessments once discovered. Some of the most overlooked sources of potential unclaimed property
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
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.
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
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
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
The Peruvian government continues to expand its tax mandates with the latest proposed changes impacting the country’s e-transport document. We explain what these changes mean. Read the blog.
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