Value Added Tax

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  • Webinar On Demand: India's GST Tax Reform - What Businesses Selling Into India Need To Know

    Webinar On Demand: India's GST Tax Reform - What Businesses Selling Into India Need To Know

    Recent developments strongly point toward India adopting a Goods & Services Tax (GST) effective July 1, 2017. What should companies be doing right now in order to prepare?

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  • Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part III: Transitional Systems in the European Unio

    Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part III: Transitional Systems in the European Unio

    In this conclusion to our three-part series on how tax authorities in VAT jurisdictions are using e-invoicing to control the VAT return process, we’ll look at some of the transitional systems E.U....

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  • Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part II: Brazil)

    Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part II: Brazil)

    In this article, we turn our focus to the second and most widely used system – ex-ante and real-time invoice validation. In our previous blog, we began discussing how certain tax administrations...

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  • Hungary Adopts Real-Time Reporting Regulations

    Hungary Adopts Real-Time Reporting Regulations

    Hungary’s tax authority announced in late 2016 that it would implement mandated real-time reporting starting July 1, 2017. As that date draws near, one certainty exists – companies with VAT...

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  • Webinar On Demand: Spain Launches Real-Time Transactional Reporting (SII)

    Webinar On Demand: Spain Launches Real-Time Transactional Reporting (SII)

    In December 2016, Spain announced that businesses that file monthly VAT returns will be required to submit transactional invoice data, for both sales and purchases, electronically starting 7/1/2017

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  • VAT country news summary for February 2017

    VAT country news summary for February 2017

    Bulgaria, Lithuania, Latvia and the VAT Gap On February 22, 2017 the European Commission published its annual reports on the economic and social situation in Member States, the European Semester...

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  • VAT Update – European Union tax news summary of February 2017

    VAT Update – European Union tax news summary of February 2017

    Recent VAT Decisions The Court of Justice of the European Union (CJEU) has recently published two decisions related to VAT: In Case C-592/15 (British Film Institute), published February 15, 2017,...

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  • Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part I: Spain)

    Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part I: Spain)

    In part I of this three-part blog series, we examine how Spain is implementing electronic invoicing to better control the VAT return process. Over the course of the last decade, there has been a...

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  • Press Release: Sovos Compliance and Tytho Sign a Strategic Partnership Agreement

    Press Release: Sovos Compliance and Tytho Sign a Strategic Partnership Agreement

    On February 1st, Sovos Compliance and Tytho made a move to further reinforce their leadership position in tax technology, and today are announcing their non-exclusive partnership agreement. They...

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  • Spain Launches Real-Time Transactional E-Invoice Reporting Standards

    Spain Launches Real-Time Transactional E-Invoice Reporting Standards

    60,000 companies required to implement new e-invoice reporting standard. With recent reports highlighting European Union members’ struggle with uncollected VAT, countries are focusing on...

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  • VAT News – European Union country by country summary of December 2016

    VAT News – European Union country by country summary of December 2016

    Here is a country by country summary of value-added-tax news that transpired during the month of December 2016. Belgium: Draft Bill on Tax Fraud Prevention On December 9, 2016, the Belgian Council...

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  • VAT Updates – European Union tax news overview of December 2016

    VAT Updates – European Union tax news overview of December 2016

    Here is a summary of news and updates related to value-added-tax in the European Union during the month of December 2016. Consultations on VAT Reform On December 20, 2016, the European Commission...

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  • VAT country by country news summary for November 2016

    VAT country by country news summary for November 2016

    Welcome to our monthly summary of Value Added Tax news and insights curated and summarized by the Sovos Compliance Tax Research Team. Here is the country-by-country report for November 2016....

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  • VAT in a Digital Age Event Wrap-up: SAF-T, Transparency, and Data Analysis Trends in VAT Compliance

    VAT in a Digital Age Event Wrap-up: SAF-T, Transparency, and Data Analysis Trends in VAT Compliance

    Thank you to all who attended our third “VAT Compliance in a Digital Age” event on November 3 at the beautiful Sofitel – Legend the Grand in Amsterdam. The standing-room-only gathering included an...

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  • VAT Managers Need to Prepare For Audits and the Expansion of SAF-T Rules

    VAT Managers Need to Prepare For Audits and the Expansion of SAF-T Rules

    VAT Managers Need to Prepare For Audits and the Expansion of SAF-T Rules So far companies have not been confronted often with an audit by the tax inspector – the average business gets an on-site...

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  • VAT country by country news summary for October 2016

    VAT country by country news summary for October 2016

    Welcome to the Sovos Compliance monthly summary of Value Added Tax news and insights curated and summarized by our Tax Research Team. Here is the country-by-country summary for October 2016....

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  • VAT Updates – European Union news overview for October 2016

    VAT Updates – European Union news overview for October 2016

    Here is a summary of news and updates related to value-added-tax in the European Union during the month of October 2016. Publication of Draft Improvements to Cross-Border VAT Rules On October 7,...

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  • Important Administration Changes in the Sales Tax of the Commonwealth of Puerto Rico

    Important Administration Changes in the Sales Tax of the Commonwealth of Puerto Rico

    Update from Charles Maniace, Director of Tax Research at Sovos: On October 14, 2016 the Internal Revenue Service issued an announcement stating, “…to ensure a smooth transition, the IRS has...

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  • Tales from the 2016 IPT Sales Tax and VAT Symposia

    Tales from the 2016 IPT Sales Tax and VAT Symposia

    Overview of common tax gap theme at the recent 2016 Sales Tax Symposium and the 2016 Value Added Tax Symposium, both sponsored by the Institute of Professionals in Taxation I recently had the...

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  • Standard Audit File for Tax (SAF-T): Online Tax Reporting Forces Transparency

    Standard Audit File for Tax (SAF-T): Online Tax Reporting Forces Transparency

    A number of countries have started implementing a process for submitting transaction data to taxing authorities. Standard Audit File for Tax (SAF-T) was initially agreed upon by the 38 member...

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