Sovos’ Annual Trends Report Details New Government Mandates for Real-Time Data and Real-Time Enforcement
Summary
Through new, government mandated e-invoicing laws, tax administrations are increasingly requiring businesses to send them what amounts to the entire content of their accounting systems, on demand as part of an audit or as a periodic report. “Governments increasingly have all the evidence and capabilities they need to drive aggressive programs toward real-time oversight and enforcement,” said Christiaan van der Valk, lead author of the report and vice president of strategy and regulatory at Sovos. “We have already seen these programs envelop most of South and Central America and are quickly spreading across countries in Europe, such as France, Germany and Belgium, as well as Asia and parts of Africa. “Bottom line: governments are in your data, and if you don’t comply with their mandates, they can shut you down.” To download your complimentary copy of the report, click here. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes.
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