Execute a Global VAT Strategy with Local Precision and Expertise

VAT IS A GLOBAL CONCERN

Localized point products lack the visibility and scalability needed to meet the challenges of modern tax

Immediate. Digital. Paperless. These have become the mantra of many global regulatory agencies looking to increase revenue streams and close tax gaps. Meeting these evolving requirements relies upon the capability to effectively manage continuous transaction controls (CTC) compliance and tax reporting.

As economies evolve and new products and services enter the market, staying ahead of tax obligations requires the collective expertise of a global solution, with the local knowledge to manage the nuances of your business.

Sovos Makes Value Added Tax (VAT) Easier

Continuous processes

Increase productivity with automated regulatory updates, data additions and custom accuracy settings.

Connected systems

Leave nothing to chance with a single source of truth for all your tax compliance obligations in one system.

Complete solution

Eliminate potential barriers to business growth with a tax compliance solution capable of meeting all your business needs.

Sovos Value Added Tax (VAT) Featured Solutions

Real-time updates

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

Automated processing

Eliminate the need to generate returns, intrastate returns or manual listings through automation.

Data accuracy, analytics & reporting

Increase productivity through automatic data additions, adjustments, corrections and validations based on custom accuracy settings.

Data extraction & upload

Upload existing data from legacy, host and ERP systems into a single interface in seconds.

The Latest in Value Added Tax

EMEA VAT & Fiscal Reporting
August 18, 2022
Romania Extends SAF-T Filing Grace Period

On 1 August 2022, the Romanian National Agency for Fiscal Administration (ANAF) published a draft order extending the current grace period for Standard Audit File for Tax (SAF-T) declarations from six months to twelve months. The order will take effect upon approval and publication in the Official Gazette. At the time of writing, approval and […]

E-Invoicing Compliance EMEA VAT & Fiscal Reporting
August 16, 2022
VAT in the Digital Age: Mandatory E-invoicing in the EU

The European Commission (EC)’s action plan for fair and simple taxation – ’VAT in the Digital Age’- continues to progress. After a public consultation process, the EC has published Final Reports discussing the best options for the European market to fight tax fraud and benefit businesses with the use of technology. The areas covered are: […]

EMEA IPT VAT & Fiscal Reporting
July 27, 2022
Portuguese Surcharges: ASF, INEM and ANPC

A parafiscal tax is a levy on a service or a product which a government charges for a specific purpose. It can be used to financially benefit a particular sector (public and private). Unlike the drastic changes in Stamp Duty reporting within the Portuguese region, the parafiscal taxes have remained consistent and unchanged for many […]

Asia Pacific E-Invoicing Compliance EMEA VAT & Fiscal Reporting
July 11, 2022
Philippines’ CTC E-Invoice Reporting System is Officially Live

The Philippines continuous transaction controls (CTC) Electronic Invoicing/Receipting System (EIS) has been officially kicked off for the 100 large taxpayers selected by the government to inaugurate the mandate. Although taxpayers were still struggling to meet the new e-invoicing system’s technical requirements just before the go-live date, the Philippines upheld its planned deadline and went live […]

EMEA VAT & Fiscal Reporting
July 6, 2022
Practical Considerations for EORI Numbers

The EU and the UK use the Economic Operators Registration and Identification System (EORI) to identify traders. What is an EORI number? Businesses and people wishing to trade in the EU and the UK must use the EORI number as an identification number in all customs procedures when exchanging information with customs administrations. The EU […]