Sovos unveils real‑time tax discrepancy tool
Sovos, a tax‑compliance and electronic‑invoicing firm, launched Mirror Visibility, a tool that compares companies' billing data in real time with records held by the Tax Authority to flag discrepancies. The product aims to speed detection of mismatches and support corporate compliance ahead of audits; firms using electronic invoicing may gain earlier warning of reporting issues. Accountants and finance teams should consider whether the tool fits existing reporting systems.
Sovos is a technology company that specialises in electronic invoicing and tax-compliance software and services; it presented a tool called Mirror Visibility that analyses financial data in real time to spot tax discrepancies. For businesses operating in Portugal, using such tools can speed up error detection and lower the risk of audits or penalties.
Electronic invoicing is the issuance and exchange of invoices in a structured digital format that accounting and tax systems can process automatically. It helps companies and tax authorities detect mismatches faster — as Sovos' Mirror Visibility aims to do — and many countries use or require e‑invoicing to improve tax reporting and compliance.
