5 Questions to Ask Yourself Note: The Finance Law for 2024 has been officially adopted and published in the Official Gazette on 30 December 2023. Our blog, France: B2B E-Invoicing Mandate Postponed, is promptly updated whenever there are changes to the rollout of the French mandate. Tax compliance in France
It’s no secret that non-alcoholic beer is having a moment, and the segment is pointing to continued growth. First Key reports that dollar sales of non-alcohol (NA) beer, wine and spirits brands doubled between 2020 and 2022, with non-alcoholic beer accounting for over 80% of the market share of the
Sovos ShipCompliant’s recent 2023 Direct-to-Consumer (DtC) Wine Shipping Report, released with our partner Wines Vines Analytics, showed the first-ever decline in both value (-1.6%) and volume (-10.3%) of shipments. While these numbers are concerning, it’s important to look at the industry in its entirety and keep in mind the overall
By Wendy Walker, Solution Principal, Sovos and Jessica Metts, Director of Client Services, Comply Exchange With the 1042-S reporting deadline approaching , Comply Exchange recently partnered with Sovos to deliver a webinar breaking down the end-to-end information reporting and withholding lifecycle. A lot of withholding agents or payers do not
Craft beer drinkers want expanded direct-to-consumer (DtC) beer shipping options, and if recent pieces of legislation are any indication, they may soon start to get that wish. Currently, several states have introduced bills that could expand the DtC alcohol shipping landscape for breweries and wineries alike. Expanded DtC beer, wine
South Korea’s latest Tax Reform proposal has recently been approved, and introduces several new measures for the year 2023, among which is the possibility of issuance of self-billing VAT invoices. The tax reform amended article 71-2 of current South Korean VAT law in order to allow the issuance of invoices
Note: The Finance Law for 2024 has been officially adopted and published in the Official Gazette on 30 December 2023. Our blog, France: B2B E-Invoicing Mandate Postponed, is promptly updated whenever there are changes to the rollout of the French mandate. France will implement a mandatory B2B e-invoicing and an e-reporting
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 the month following the release of the 2023 Direct-to-Consumer Wine Shipping Report, several other data snapshots of the wine industry were also published. In response to the various reports, there has been a swell of commentary on what each one signals for the health of and outlook for the
Sovos ShipCompliant attended the recent American Craft Spirits Association (ACSA) Convention. Celebrating its 10th year, ACSA once again brought together “distillers and suppliers to harness the energy of the industry.” Direct-to-consumer (DtC) alcohol shipping was a recurring theme at the convention, with multiple panels discussing what changes must take place
VAT Registration Threshold of EU Countries The European Union is a collective but its Member States have their own rules and nuances where VAT is involved. Knowing what rules are at play is essential when trading in the EU, and that’s where Sovos’ EU VAT Buster comes in. Each Member
Ecommerce sales have grown in record numbers over the past few years, heavily fueled by the pandemic. As retailers seek additional channels to reach customers, internal accounting systems grow more complex and extra care must be taken to accurate aggregate data for compliant financial reporting. In this session our speakers
A recently introduced Texas senate bill (TX SB752) would extend direct-to-consumer (DtC) shipping permissions in the Lone Star state for both spirits and beer. These permissions would work largely in the same manner as DtC wine shipping in the state. Specifically, TX SB752 would enable licensed Texas-based producers of beer
What is the EU VAT Reform? Aimed at making life easier for businesses, the EU E-Commerce VAT Package simplifies the VAT reporting requirements when trading across European Union Member States. This package is part of wider EU VAT reform. Our live blog collates vital information on the package, with updates
Updated February 3, 2023 There’s a chance New York may soon allow direct-to-consumer spirits and cider shipping. Last Wednesday, New York Senators James Skoufis (D- 42nd District) and Rachel May (D-48th District) introduced Bill 2852, an act to “amend the alcoholic beverage control law, in relation to authorizing the direct
The French authorities published the updated version of the ‘External specifications file for electronic invoicing’. The new specifications introduced additional mandatory e-invoicing data, new and modified cases of use, amended frequency for e-reporting, retention of invoices by the public billing portal and other new explanations as well as examples for
The EU VAT E-Commerce package has been in place since 1 July 2021. This applies to intra-EU B2C supplies of goods and imports of low value goods. Three schemes make up the package. These are based on the value of goods and the location of the sale of goods. All
On Monday, January 9, the U.S. Supreme Court rejected a petition to hear an appeal of B-21 v. Bauer, a case revolving around the issue of interstate direct-to-consumer (DtC) shipping by alcohol retailers. B-21 stemmed from a challenge to a North Carolina law that allows in-state retailers to ship wine