On June 26, 2017, Governor John Bell Edwards signed House Bill 629 into law (Act No. 424). Under this Act, polyroll tubing for commercial farm irrigation is now exempt from tax, as well as purchases and leases by qualifying radiation therapy treatment centers. Act No. 424 also limits the exemption for fuels and gases to those purchased by consumers for residential use.
Curacao Publishes Revised AEOI Manual and Online Portal Guide
Curacao’s Ministry of Finance has released FATCA and CRS guidance regarding data specifications for XML tra...
Sales and Use Tax Filing Challenges in Manufacturing – Infographic
Sales and use tax filing challenges in manufacturing and how leaders utilize sales and use tax filing automation software to reduce risk and bottom line costs.
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
What If Wayfair Wins? The Supreme Court Will Soon Rule on South Dakota’s Economic Nexus Legislation
Over the last year, there has been a tremendous amount of chatter among the sales tax cognoscenti about the case South Dakota v. Wayfair, which the U.S. Supreme Court is poised to publish its...
The Move to HANA: Hidden Opportunities in Worldwide Tax Compliance
With businesses worldwide moving to SAP S/4HANA or HANA Enterprise Cloud, it's the perfect time to develop a strategy to manage tax compliance worldwide.
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.
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...
The Mexican Value Added Tax (IVA) System: A General Overview (Part I)
Mexico's IVA generally applies to all imports, supplies of goods, and the provision of services by a taxable person unless specifically exempted by a particular law.
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.
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...
Sales Tax Software Value for Companies Moving to Cloud
Finance and IT must evaluate sales tax software strategy during ERP upgrade or cloud digital transformation planning to grow and safeguard the business.
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
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.
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.
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