In the last year, the European Commission has put forward two proposals, the “VAT in the Digital Age” and the “EU Customs Reform,” which could significantly expand the scope of the Import One Stop Shop over the next several years. What is the Import One Stop Shop? The Import One Stop
Sovos recently hosted a roundtable discussion to better understand how finance teams within the software industry can utilize artificial intelligence (AI). Experts from Brex, AvidXchange and Zuora joined Sovos’ Tim Roden, solutions principal, to converse on how AI and automation can be implemented for a modern – and compliant –
The amendments to the Law on Electronic Invoicing via SEF were adopted by the National Assembly of the Republic of Serbia and published in the “Official Gazette of the Republic of Serbia” No. 92/23 on October 27, 2023. The main changes are the following: the obligation of electronic registration of
It’s hard to avoid headlines discussing artificial intelligence (AI) these days, whether it’s how ChatGPT is being used in court cases or how teachers must learn to spot computer-generated essays. But how could this technology impact the beverage alcohol industry? Is AI already being used, and if so, how? Let’s
When it was announced recently that the introduction of a new French e-invoicing mandate had been delayed until September 2026 there was a collective sigh of relief amongst many in the tax and finance world. More time to adequately prepare, put systems and methodologies in place and have your business
Your Guide to Unclaimed Property Management Failing to account for unclaimed property can cost businesses millions of dollars. As more states dramatically increase their efforts to enforce unclaimed property requirements due to widespread noncompliance, it is crucial to track and report your organization’s unclaimed property to states to avoid costly
Banks and credit unions typically use core banking systems that house customer data and other tax information related to customer accounts. When tax information reporting season arrives, these are the back-end systems that data is pulled from. However, there are challenges in utilizing just these systems and not also utilizing
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,
The District Court for Arizona recently ruled against a Florida retail shop in the latest in an ongoing series of lawsuits that seek to address the right of alcohol retailers to engage in interstate direct-to-consumer (DtC) shipping. The Florida retailer in this case, which was joined by two Arizona wine
Sovos’ recent observations of audits by EU Tax Authorities are that Tax Officers are paying more attention to the contents of One Stop Shop (OSS) VAT Returns. They have challenged, and even excluded, companies from this optional scheme. OSS VAT returns must contain details of supplies made to customers in
The European Commission, as part of its VAT in the Digital Age project (ViDA), is proposing to modify reverse charge rules for non-established suppliers. These rules are currently optional for Member States, which has resulted in patchwork application across the EU. The modifications are intended to harmonize these rules across
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
Extension of the implementation dates of the B2B e-invoicing Mandate. Update: 2 January 2024 The Finance Law for 2024 has been officially adopted and published in the Official Gazette on 30 December 2023. With the finalization of the law, the new implementation dates are as follows: Receipt of e-invoices: Starting
Effective January 1, 2024, wine and spirits products will be subject to the California Beverage Container Recycling Program (BCRP). This change follows the passage of SB 1013 in September last year and reflects efforts by the state to help manage and reduce waste from beverage containers by extending the BCRP
Sovos ShipCompliant’s mid-year DtC wine shipping report shows a channel adapting to a new normal (ATLANTA) July 31, 2023 – Today’s release of the mid-year direct-to-consumer (DtC) wine shipping report from Sovos ShipCompliant and WineBusiness Analytics documents a continued return toward pre-pandemic trends for the market. Following the January
The direct-to-consumer (DtC) wine shipping channel has seen a continuation of movement tracked in the January release of our Direct-to-Consumer Wine Shipping Report, with dips once again occurring in overall volume and value. Note: The proprietary data featured in this mid-year report is compiled from an algorithm measuring total DtC
On July 11, 2023, the Ministry of Finance of the United Arab Emirates (UAE) announced five major strategic transformational projects which aim to advance the country in the field of digital government. One of the announced projects is the “E-Billing System”, a system that will automate and thus facilitate the