Spain has issued Ministerial Order HFP/2017, which establishes the technical requirements for the implementation of the Immediate Remittance of Information system, locally known as SII. According to this new order, the effective date of the mandate is July 1, 2017. The order officially describes the information that should be sent to the Spanish tax authorities for VAT reporting purposes.
Guernsey Gives CRS Extension to July 31
Guernsey has announced (Bulletin 2017/4) that it will push back its CRS deadline to July 31. Please note, ...
Hungary eInvoicing Is Here: Are You Ready?
Hungary eInvoicing is now live and required and all companies that make business-to-business transactions in Hungary are impacted.
Four Critical SAP S/4 HANA Considerations for Italy’s eInvoicing Mandate
The biggest deadline in Italy’s tax modernization, a mandate for electronic invoicing, is quickly approaching. Here's what companies preparing for SAP S/4HANA need to do to be ready.
How to Prepare for New Remote Commerce Taxation Requirements
What should sellers be doing to prepare for the new era of sales tax where states have enacted or are about to enact new economic nexus standards?
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.
Connected Supply Chains Drive Complex VAT Compliance
Data-driven manufacturers can avoid costly fines and compliance issues by implementing cloud-connected processes into their supply chains.
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.
Sovos Announces Resource to Track Direct-to-Consumer Wine Shipping Rules
Sovos is excited to announce the launch of our new ShipCompliant Direct-to-Consumer (DtC) Wine Shipping Rules resource center. Wineries can use this tool to track the compliance obligations they...
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.
2018 Intelligent Reporting Summit Q&A: The Person Companies Pay to Hack their Networks
Data security is obviously important. So, why do so many companies still get it wrong? Learn more in this Q&A from an Intelligent Reporting Summit speaker.
How EU Countries Are Following Latin America’s Digital Tax Transformation to Narrow Their €151 Billion VAT Gap
Latin America has become a global leader in the effort to close tax gaps. Now, European countries are follwoing suit. Here's what that means for businesses.
VAT & B2G Reporting Newsletter: July 2018
Subscribe to the Sovos VAT & Business-to-Government Reporting Monthly Newsletter to stay up-to-date with relevant regulatory changes around the world.
Accelerated Deadlines: IRS Eliminates Automatic Extension for 1099-MISC with Nonemployee Compensation
The IRS has officially announced they are eliminating the automatic 30-day extension of time for the 1099-MISC with Nonemployee Compensation. This move forces organizations with large amounts of...
Infographic: Italy eInvoicing At a Glance
Italy’s VAT collection problem is driving innovation as it moves to adopt a ‘clearance’ model – a system which has been successful in reducing the VAT gap in Latin America.
Sovos CTO: Modern Tax Demands Modern Software. We’ve Built S1 For the Digital Future of Tax.
Tax is changing, and businesses need to change with it. Sovos has built the S1 platform to empower companies to do just that. Learn more.
The Hidden Cost of In-House VAT Compliance
Adhoc VAT Compliance solutions may be a short-term fix but cost greatly in the long run. Companies must quickly adapt their internal systems.
South Dakota v Wayfair: What it Means for Use Tax and Procurement Practices
How does the South Dakota v Wayfair ruling effect procurement and use tax? Are you set up to accurately validate tax charges on your invoices?
Several States Move to Tax Remote Commerce – What Businesses Need to Know
In the wake of the South Dakota v. Wayfair, Alabama, Hawaii, New Jersey and Wisconsin have provided guidance on how they plan to tax to remote commerce.
Pennsylvania Fixes Long-Time Reporting Problem with New 1099 Regulations
1099-R reporting in Pennsylvania is about to get easier, but even a positive change means that financial institutions will need to adjust processes.
State of Change: New York Shifts 1099-R Reconciliation from Annual to Quarterly Basis
New York's move to require quarterly rather than annual reconciliation of 1099-R info could have big repercussions for tax and accounting pros. Here's why.
Sovos Intelligent Reporting Summit: Look for W-8 Red Flags and Avoid 1042-S Penalties