Businesses today face complex taxation and reporting obligations in each and every country where they operate as a result of government initiatives for more visibility into business operations to reduce tax gaps. Here’s why:
- According to the IRS, the US Tax Gap for 2008-2010 was $458 billion.
- VAT collections represent nearly 60 percent of tax revenue in Latin American countries, so fraud and evasion cost trillions of dollars.
- The EU VAT Gap based on 20114 data was €159.5 billion, according to a case study commissioned by the European Commission.
Since governments are cracking down and using technology to change the way they regulate, there is little room for error. As a result, organizations are forced to keep up with country-specific requirements and adapt to new technology-driven processes that can change multiple times per year.
The Sovos Intelligent Compliance Cloud offers tax professionals the ability to stay ahead of evolving global compliance initiatives. With the ability to convert vast experience and knowledge into highly functional software, Sovos offers tax professionals the first global platform of its kind to support complex compliance obligations in the U.S. and across the EMEA and Latin American regions.
Respond to new tax and reporting obligations you don’t yet see coming.
Remain confident that your business or your clients’ businesses are running on the most complete and accurate regulatory analysis.
Stay in control of the data you need across a patchwork of systems.
Keep up with each jurisdiction thanks to local knowledge coupled with a reliable, stable and secure global platform.
Sovos Sales & Use Tax Software
With automated filing, you’ll reduce the risk of audits and eliminate time-consuming compliance work for your team.More
Sovos Sales & Use Tax Determination
Sovos fully automates AP and AR tax processes, safeguarding businesses against sales tax determination burdens.More
Sovos VAT Reporting
Stay ahead of rapid VAT reporting changes across the globe.
With Sovos, global businesses are empowered to tackle the most complex VAT reporting requirements now and into the future.
Sovos VAT Determination
Defending global businesses against value-added tax burdens, Sovos delivers accurate, efficient VAT determinations.More
Sovos CertManager simplifies and streamlines your exemption certificate management and verification.More
Sovos Tax Information Reporting
The largest 10-series filer in the U.S., Sovos automates tax information reporting obligations to safeguard businesses from the burdens and risks of compliance.More
Sovos Europe Reporting
Sovos is an ally for businesses as European countries roll out complex e-invoicing and fiscal reporting requirements.More
Sovos supports companies doing business in Latin America, Europe and around the world with real-time e-invoicing compliance, safeguarding them from the risks of fines, penalties and operational shut downs.More
Sovos Automatic Exchange of Information (AEOI) solution offers intelligent compliance in 100+ countries.More
Taxify by Sovos
Safeguarding e-commerce businesses with accuracy and security, Taxify by Sovos automates calculations and filing in every state.More
Sovos is the only software business built to combine local knowledge and industry expertise with flexible, reliable software to keep companies accurate and timely in fulfilling their obligations. Trusted by all of the “Big Four” accounting firms, our proprietary approach proactively solves the most complex and unanswered compliance obligations while ensuring data is protected throughout every step of every process.
Goodin Company Success Story
Founded in 1937, Goodin Company is the “Source of Supply” house for plumbing, heating, and air conditioning parts for residential, commercial, and industrial builders, plumbers, and contractors. Currently, they serve the upper Midwest, including Minnesota, Wisconsin, Nebraska, South Dakota, and North Dakota.