Blog
Last month, a cross-functional group of Sovos unclaimed property experts—including folks from product development, product marketing, managed services, our general counsel’s office, and the consulting team—traveled to Tucson, Arizona to the Unclaimed Property Professional Organization’s annual conference. We spent the week diving deep into all things unclaimed property. There was one topic that kept coming […]
We recently partnered with StudioID on a global survey of 150 finance leaders to reveal significant insights into how companies are navigating the increasingly complex world of indirect tax compliance. The research, which included CFOs, EVPs/SVPs/VPs of Finance, and Finance Directors from companies with revenues ranging from $500 million to over $5 billion, provides a […]
We recently conducted a comprehensive survey of 150 finance leaders in partnership with studioID that sheds light on emerging strategies for managing tax compliance in an increasingly digital regulatory environment. The research, which included respondents from across financial services, manufacturing, technology, and other sectors, reveals how forward-thinking organizations are transforming their approach to indirect tax […]
With the signature of Governor Sarah Huckabee-Sanders, Arkansas is set to enact House Bill 1476—ushering in long-awaited reforms to its direct-to-consumer (DtC) wine shipping laws. Until now, Arkansas only allowed DtC wine shipments when the consumer was physically present at the winery’s premises at the time of purchase, severely limiting the ability of Arkansas consumers […]
Sovos recently participated in a roundtable discussion facilitated by the IRS regarding digital asset reporting requirements. This session provided valuable insights into the upcoming 2025 reporting landscape and clarified several critical points for digital asset businesses preparing for compliance. IRS Position on 2025 Digital Asset Reporting Timeline Based on recent industry roundtable discussions with IRS […]
As some countries either introduce or consider introducing mandatory natural catastrophe insurance (e.g., Italy this year), France is ahead of the curve. This is because France already has a specific compensation scheme in place for coverage of property against natural disasters, and has had one since 1982. The importance of the scheme is clear, as […]
Hungary’s tax penalty consequences of non-compliance with tax requirements are governed by the Act on Rules of Taxation. The law outlines a range of sanctions for non-compliance, including tax penalties, default penalties, late payment interest and self-revision fees. This blog will provide an overview of each sanction and summarize recent changes in this area. Types […]
VAT in the Digital Age (ViDA) aims to modernize and simplify the European VAT system. ViDA was officially adopted by the EU on 11 March 2025. The package took 27 months to be approved and adopted, with the initiative initially being proposed by the European Commission in 2022. The path to adoption included many versions […]
From groceries to clothing, consumers expect convenience—and that includes how they purchase alcohol. While direct-to-consumer (DtC) shipping is widely available for wine, beer lags far behind, with legal shipping allowed in only 11 states and Washington, D.C. On National Beer Day, there’s no better time to highlight why beer trails behind in DtC access and […]
As governments worldwide continue to shift to Continuous Transaction Controls (CTC) systems, such as e-invoicing and real-time e-reporting, another trend organically unfolds as part of this move towards tax digitisation: pre-filled returns. With access to real-time transactional level data – and other types of data, such as payroll, inventory and other accounting data transmitted at […]
Believe it or not, there’s more to life than beer. There’s wine, spirits, cider, kombucha, hard seltzers—even non-alcoholic products. But just because a brewery has mastered beer does not mean it’s ready to begin making and selling other types of alcoholic beverages. When a brewery moves to expand its offerings and enter new markets, new […]
Important changes in Costa Rica’s electronic receipt regulations have been introduced by the tax authority through the new mandate 44739-H. This new regulation, published on November 8, aims to modernize processes and ensure accuracy in electronic transactions across the country by introducing significant changes in the management of electronic receipts for tax purposes. Main Changes […]
In a previous blog, we provided an overview of the current and proposed natural disaster-related measurements in some European countries and Australia. In this blog, we will focus on the possible EU-level solution proposed by the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) in their latest discussion paper, issued […]
Craft beer drinkers want more choices. Brewers want more opportunities. And yet, legal barriers still stand in the way of direct-to-consumer (DtC) beer shipping. The 2025 Direct-to-Consumer Beer Shipping Report, produced by Sovos ShipCompliant in partnership with the Brewers Association, reveals how consumer demand, regulatory restrictions and potential revenue opportunities continue to shape the DtC […]
The 2025 Direct-to-Consumer Wine Shipping Report offers more than just data—it provides valuable insights into the trends shaping the industry and the factors driving change. To delve deeper into these findings, industry experts Andrew Adams from WineBusiness Analytics and Alex Koral from Sovos ShipCompliant joined forces in a recent webinar, unpacking the key takeaways. Their […]
In a shockingly quick turn of events, the Mississippi governor has signed a bill that will enable the direct-to-consumer (DtC) shipping of wine, making it the 48th state to grant its residents greater access to the national wine market. The bill, SB 2145, is set to take effect on July 1, 2025, which should mean […]