Sovos APR addresses extensive tax authority periodic, on-demand VAT requirements across both EU and non-EU jurisdictions including Continuous Transaction Control, VAT Returns, EC Sales and Purchase Lists, Intrastat Declarations, complex reports (including SAF-T) and other country specific declarations.
Trusted by MNCs facing compliance challenges around the globe as tax administrations continue to digitize tax on every continent
Breadth of indirect tax compliance portfolio across tax determination, CTCs, periodic reporting (VAT, SAF-T) and Trust
Geographic coverage across Asia, EMEA, LATAM
Pedigree of expertise in regulatory monitoring of tax compliance
Software maintained in alignment with regulatory changes à client able to focus on core business
Ease and flexibility of integration, whatever your systems
Centres of Technical Excellence on 3 continents
Deep understanding of where compliance intersects applications, processes, systems
Multilingual customer support
Information Security Credentials
Implications of non-compliance with e-invoicing mandates vary. Most tax authorities apply financial penalties, either a set sum or percentage. Penalties can be for late-reporting, invoice inaccuracies and errors or failure to comply with software requirements.
Countries with a SAF-T requirement include Portugal, Luxembourg, Austria, France, Norway, Poland, Singapore, Angola, Cape Verde, Lithuania and Romania. Tax authorities introducing SAF-T requirements continue to expand, adding to compliance demands for companies.
The VAT in the Digital Age proposal put forward by the European Commission might start affecting business from 2024. The proposal’s reporting and electronic invoicing requirements bring business, data and software process changes. Businesses shouldn’t underestimate the time needed to plan for these changes and the impact on current systems.
Sovos has two options to ensure you optimise the reporting process, every step of the way: