Tax software provider Sovos acquires PetaPilot and Saphety

Wednesday 7 July 2021 14:58 CET | News

Global tax software provider Sovos has announced it has acquired Portugal-based companies PetaPilot and Saphety.

The first of them delivers e-accounting solutions to tax authorities and businesses, while the second provides compliant e-invoicing services to governments and companies. Together with existing Sovos capabilities, the acquisitions create a complete VAT, SAF-T and business-to-government (B2G) compliance solution for customers operating in Portugal.

The companies are summing together compliant e-invoicing connectivity and extended digital accounting capabilities to meet current and upcoming mandates around the world.

The acquisition of PetaPilot helps Sovos to extend the capabilities of its new Advanced Periodic Reporting cloud platform, adding to the support for global Standard Audit File for Tax (SAF-T) requirements, which the Organisation for Economic Co-Operation and Development (OECD) designed to give tax administrations frequent, digital visibility into business accounting systems.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, account-to-account payment, e-invoicing, compliance
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Portugal
This article is part of category

Banking & Fintech