|
|
Your First Quarterly Sovos Indirect Tax Bulletin
Welcome to the first quarterly Sovos Indirect Tax Bulletin. Here, you will receive updates on the latest developments in indirect tax regulations, CTC mandates, advancements in tax technology, and global compliance events. Enjoy!
|
|
|
|
Tax compliance is evolving fast—governments are embedding themselves deeper into business processes, AI is transforming risk management, and global expansion is getting more complex. Sovos' Tax Trends 2025 is your guide to navigating these changes.
|
|
Regulatory & Technology Convergence: With governments enforcing real-time tax reporting and SAP requiring a move to S/4HANA by 2027, businesses are facing a seismic shift. Plan ahead to stay compliant without disruption.
|
|
|
AI & Compliance: AI is automating risk detection and streamlining processes, but how do you implement it without increasing regulatory exposure?
|
|
|
Global Expansion Challenges: E-invoicing, SAF-T and digital tax mandates demand new tax strategies for multinational growth.
|
|
|
Regional Tax Updates
|
|
Report
EU Parliament Approves ViDA
The EU Parliament has passed ViDA, streamlining e-invoicing and CTC. Member States can now roll out domestic e-invoicing without EU approval. With final EU Council approval pending, businesses should prepare for major VAT compliance changes.
|
|
|
North America
States Drop 200-Transaction Threshold & Expand Excise Taxes
States like California and New York are shifting to revenue-based tax obligations, simplifying compliance for remote sellers. Businesses will need to adjust to evolving multi-jurisdictional tax rules.
|
|
|
LATAM
Brazil's Historic Tax Reform Ushers in Dual VAT System
Brazil is replacing its complex tax system with a dual VAT model, streamlining compliance and transparency. Businesses must adapt to new invoicing and reporting rules as indirect taxes phase out. Staying ahead of phased implementation is key.
|
|
|
APAC
China Moves Toward Nationwide Voluntary E-Invoicing
As of December 1, 2024, China now offers digital e-invoices nationwide, equal to paper invoices. The move introduces new formats, a national e-invoice platform, and streamlined compliance. While voluntary for now, it signals China's shift toward full digital tax transformation.
|
|
|
Stay on top of regulatory changes
|
eBook
The Role of Tax and Compliance in your ERP Transformation Journey
Download today
|
|
|
|
Best Practices: Is Your Tax Compliance Future-Ready?
Tax compliance evolves in stages—where does your business stand?
|
|
Stage 1: Minimalistic & Reactive
Disconnected, manual processes lead to high risk and inefficiency
|
|
|
Stage 2: Some Assembly Required
Point solutions add cost but lack integration, creating compliance gaps
|
|
|
Stage 3: System of Record
IT and Finance align, ensuring accurate, scalable compliance
|
|
|
Stage 4: Data-Driven
Enterprise-wide visibility enables proactive compliance and efficiency
|
|
|
Stage 5: Trusted & Transparent
Intelligent automation ensures real-time, always-on compliance
|
|
|
Advancing your compliance maturity reduces risk and drives efficiency. Assess your posture today!
|
|
Upcoming Sovos Events: Connect, Learn, and Stay Ahead
Don't miss these opportunities to stay informed and ahead in tax compliance.
|
Webinar
Mirror Visibility & Compliance
(March 25, 2025) - Learn how real-time tax data drives efficiency and compliance.
|
Philadelphia
Sovos Always On: Philadelphia
(April 8, 2025) - A full-day event for finance, tax, and IT leaders tackling compliance challenges.
|
|
Frankfurt
Sovos Always On: Frankfurt
(May 21, 2025) - Industry experts share insights on tax compliance trends and strategies.
|
|
|
