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VAT Compliance Lessons Learned from Latin America
These countries have set the stage for similar compliance and reporting that are now sweeping across more t...
Accounts Payable: How to Avoid 1099 Reporting Penalties for One-Time Vendor Payments
For AP pros, managing 1099 reporting can be a struggle. That's especially true when certain vendors won't cooperate. Find out how to avoid IRS penalties.
Prepare Now for Hungary’s Automated Approach to eInvoicing
The Hungary eInvoicing requirement is the next step in efforts to minimize tax evasion and reduce its VAT gap, which at one point reached 13.7%.
eReceipts 101: The What, Why, Where and How of B2C Tax Compliance
eReceipts are increasing in popularity among governments and businesses alike. Here’s what you need to know about the latest tax compliance trend.
Sales and Use Tax Filing Automation Considerations
Key considerations for sales and use tax filing automation are discussed to address the key challenges organizations struggle with during this important tax compliance process.
How to Reduce Risk and Protect Revenue In Mexico with the Digitization of Tax Administration
Invoicing in Latin America is complex. Businesses that get electronic invoicing processes wrong could quickly grind to a halt. Here's how to get eInvoicing right.
Sovos Opens SAP S/4HANA Cloud Early Adopter Program, Announces Support for S/4HANA
Sovos Builds on 20 Years of Support of SAP R/3 & ECC with a Plan to Modernize Tax Compliance in S/4HANA
Sovos Unveils S1 Cloud Platform to Prepare Businesses for Digital Tax Enforcement Globally
Unique software architecture, development framework and cloud infrastructure enables tax compliance in key business processes, connects with governments
Italy eInvoicing: What You Need to Know
Italy has progressed towards this full eInvoicing requirement since 2014, when it announced mandatory eInvoicing for certain business-to-government transactions.
Sovos Announces Solution to Automate Beverage Alcohol Compliance for Brand Label Registrations
Market Ready enables suppliers to get products to market more efficiently across different states. May 31, 2018, Napa, Calif. [Sovos GCS ShipCompliant Wine Summit] — Today, at its annual...
Public Anger and GDPR: Why Too Much Data Sharing Could Have Negative Consequences
in the wake of the Cambridge Analytica scandal and GDPR, the rules for data collection and sharing are literally changing. Here's what companies need to do to adapt to a new world.
Tales from the Crypto: Why Tax Reporting for Cryptocurrencies Is So Scary
As cryptocurrencies grow in popularity, the IRS is seeking to mine them for revenue--and enforce tax information reporting. That can get complicated for both exchanges and investors. Here's why.
Why Our Acquisition of TrustWeaver is an Important Milestone in the Evolution of Modern Tax Software
By Andy Hovancik – President & CEO Today, we announced the acquisition of Stockholm-based TrustWeaver to create a clear leader in modern tax software. TrustWeaver has become a seal of approval...
IRS Guidance on Abandoned Money Demonstrates Complexity of 1099 Reporting
One of the reasons 1099 reporting can be so confusing is that gaps in policy exist until they don't. Read about one recent example of an IRS policy change on abandoned money that could cause concern.
The Top 10 Compliance Mistakes in LATAM
In order for businesses in Latin America to reduce their risks of fines, penalties and operational disruptions, it’s imperative to understand and manage the ever-changing eInvoicing and VAT...
New Jersey, Vermont Individual Mandates Could Start Trend of State-by-State ACA Reporting
If more states follow the trend set by New Jersey and Vermont and bring back the individual insurance mandate themselves, state-by-state "ACA" reporting could get very complicated and expensive.
VAT & B2G Reporting Monthly Newsletter: May 2018
Subscribe to the Sovos VAT & Business-to-Government Reporting Monthly Newsletter to stay up-to-date with all the relevant regulatory changes around the world.
Batch vs. Real-Time Sales Tax Evaluation and Use Tax Accrual Processes
Two different approaches to sales tax validation and use tax accruals, real-time vs. batch automation, and the advantages and disadvantages of each, as discussed by Mark Rems, Grant Thornton.
Split Payments: New VAT Collection Mechanism in the European Union
As of 2016, the VAT gap in the EU was 159.5 billion euros, or 14% of the total expected VAT revenue for the EU. As a result, EU countries have been introducing several measures to increase VAT complia
How Three Multinationals Navigate Tax Compliance Complexities
Existing tax compliance systems and processes typically aren’t sufficient to manage these growing challenges, requiring multinationals to adopt a new, proactive approach to compliance to reduce risk a
Gambling on Sports is Legal (Kind of): What Does That Mean for Tax Information Reporting?