Rein in VAT & Fiscal Reporting Requirements​

Stay in compliance as governments close tax gaps and impose new regulations.

Automation That Frees Up Your Team

Solving the most complex VAT requirements

Tax authorities worldwide want to gain more visibility into value-added tax (VAT) activities, increase collections and close revenue gaps. It’s not hard to see why; E.U. countries alone reported a VAT gap of almost €150 billion in uncollected revenues in 2016. As a result, governments are curbing this trend by increasing technology investments and demanding digital transactions and paperless processes.

Centralize, standardize & automate with Sovos VAT & fiscal reporting solutions

Centralize

Simplify the burden of VAT by managing all of your requirements (and changes to those requirements) for every jurisdiction in one easy-to-use interface.

Standardize

Rest easy, knowing your business partners around the globe are using a consistent, standardized reporting process.

Automate

Turn painstaking, manual tasks like compliance research and data validation into quick clicks of a button.
MANAGED SERVICES

Technology Enabled VAT Managed Services

A blend of human expertise and software to ease your VAT compliance workload and reduce risk wherever you operate today while ensuring you’re ready to handle VAT requirements in the markets you intend to dominate tomorrow.

Feature List

Real-time updates

Get up-to-the-minute updates for every jurisdiction in which you have VAT obligations, all in a single, simple, centralized location.

Automated processing

Save time without generating returns, intrastate returns or manual listings again.

Data accuracy, analytics & reporting

Boost productivity with automatic data additions, adjustments, corrections and validation based on custom accuracy settings.

Data extraction & upload

Solve data management in seconds with the ability to extract and upload existing data from legacy, host and ERP systems into a single interface.

Customers

Related content

EMEA Tax Compliance VAT & Fiscal Reporting
July 9, 2020
Tax IDs and List Checks: The New Trend

VAT gaps can generally be found in countries that collect indirect taxes. This hiatus has led many tax administrations to implement Continuous Transaction Controls (CTCs), through which transactional and accounting data are monitored in real-time or near real-time. However, even countries with sophisticated CTCs may encounter fraud involving missing traders and non-existent supplies. This creates […]

E-Invoicing Compliance EMEA Tax Compliance VAT & Fiscal Reporting
July 8, 2020
Turkey: Penalties for Noncompliance with the Mandatory Electronic Document Framework

For rules to carry any real weight, the rule-maker must combine compliance with that rule with either a carrot or a stick. In the field of tax legislation, the rule-maker, in this case, the legislator or the tax authority, almost always goes down the route of the stick in situations of noncompliance. And the penalties […]

EMEA Tax Compliance VAT & Fiscal Reporting
July 1, 2020
Digital Services Tax Debate Intensifies

On 18 June 2020 European officials announced that an EU-wide digital services tax (DST) will be introduced if the US’s recent withdrawal from global tax negotiations stops international agreement. The US’s withdrawal follows the United States Trade Representative’s (USTR) initiation of Section 301 investigations into DSTs adopted or proposed in the EU and nine countries. […]

EMEA Tax Compliance VAT & Fiscal Reporting
July 1, 2020
Different Class: New Varying Approaches to Customs Administration from UK and EU

A touch of CLASS: simplifying access to customs tariff data CLASS – short for Classification Information System – is the new single point access search facility from the European Commission. It provides access to tariff classification data of goods entering or leaving the EU and is the latest step in developing an integrated approach to […]

Asia Pacific E-Invoicing Compliance EMEA LATAM Tax Compliance United States VAT & Fiscal Reporting
June 25, 2020
Industry First: Businesses and Government Partner on New Digital VAT Compliance Principles

For the first time in history, international business and governments have come together. Their aim was to define and agree a guiding set of principles for tax compliance in a world where continuous tax controls (CTCs) are becoming the norm.  The International Chamber of Commerce‘s (ICC) executive board has now formally approved the first set […]

“Without good software, it would be impossible to adjust to the quickly changing VAT reporting obligations. We would not be able to meet these new regulations on time without Sovos.”

Anna Buchnowska

EMEA VAT manager, Ashland