ONESOURCE Indirect Tax
GST compliance is both complex and time consuming. Thomson Reuters offers a true automated solution that will save you time and reduce your risk of non-compliance.
ONESOURCE Indirect Tax provides an end-to-end solution that automates indirect tax determination and compliance. Our solution is currently used by hundreds of corporations throughout the world and is now available in Australia.
ONESOURCE Indirect Tax standardises, accelerates and improves the quality of the GST compliance process reducing risk and cost.
Our modular approach ensures ONESOURCE Indirect Tax's flexibility can accommodate your distinct requirements around the GST compliance, while maintaining a robust risk management framework.
It enables automated data collection and entry in a number of ways helping to ensure data integrity from numerous data sources.
We maintain and update the latest tax rules allowing you to focus on your indirect tax compliance rather than the implications of changing regulations.
Using ONESOURCE Indirect Tax - Compliance will result in:
- Reduced compliance costs
- Increased time to focus on planning and adding value as the automation tools offer the potential for reducing re-work and manual intervention
- Reduced reliance on key team members understanding GST compliance process
The Sales & Use Tax engine of ONESOURCE Indirect offers the only consolidated approach to sales and use tax determination, calculation, and recording.
The solution delivers:
- The appropriate tax at every point in a transaction's lifecycle
- Automated determination and calculation
- Auditable recording of policy and transactions
- Application- and system-independent connections
- No practical limits on data type, size, or source
- A multi-country solution
- Browser-based tax policy and process toolset
- Configuration without coding capabilities
- Real-time compliance and cash flow reporting
ONESOURCE Indirect Tax - Determination can accept all tax decision, reporting and filing-relevant data sent from sales or purchasing applications so that tax and finance professionals can accurately determine, calculate and record sales and use taxes. It also offers tax rules and algorithms for over 13,000 jurisdictions and a wide range of reporting capabilities, which enable tax professionals to create a documented view of your tax system, policies, and processes - a critical requirement for ensuring compliance.
Contact us to learn more about ONESOURCE Indirect Tax Compliance and Determination solutions.