Thomson Reuters Launches Major Upgrade of ONESOURCE Sales & Use Tax and Global VAT/GST Technology Solution

New release provides compliance peace of mind with enhanced productivity and flexibility
NEW YORK, NOVEMBER 15, 2017 – Thomson Reuters announces the latest version of ONESOURCE Indirect Tax, the company’s intelligent, end-to-end global tax automation solution. Available in the cloud for simplified deployment and maintenance, the new release offers both shared and dedicated cloud options, addressing the needs of mid-sized businesses and large multinationals alike.

The cloud tax solution automates tax calculation for all transactions around the globe and unifies tasks such as calculation configuration, certificate management, reporting, DFI and compliance. To support the dynamic and changing tax regulations and to ease the burden on tax and IT departments, the new release simplifies configuration tasks with streamlined, automated workflows using an intuitive step-by-step wizard. To further efficiency of tax teams, the release provides faster access to tasks, their data and tax information.

“Both large enterprises and small businesses want a seamless commercial experience for their customers and business partners to drive growth in sales. No one wants to be constrained or at risk with invoice discrepancies, tax rate errors, or other compliance missteps,” said Chris Carlstead, managing director, Indirect Tax, for the Tax & Accounting business of Thomson Reuters. “ONESOURCE Indirect Tax delivers on this expectation by providing transactions with the right tax, the first time, every time."

The latest version of ONESOURCE Indirect Tax is part of the Thomson Reuters ONESOURCE global tax suite that provides tax calculations and compliance across all tax types and across jurisdictions globally. With seamless integration, companies can leverage one platform for corporate income taxes, indirect taxes, trade and customs, transfer pricing, and tax research.

ONESOURCE Indirect Tax is powered by the industry’s only patented tax calculation engine that continually evolves to meet the tax needs of every business and automatically updates as tax changes occur across the globe – the equivalent of an in-house global digital tax officer on-call, 24/7.