ONESOURCE

Indirect Tax Compliance VAT software that increases efficiency, reduces cost and lowers compliance risk

AUTOMATE VAT COMPLIANCE

Easily prepare VAT returns in one or more countries

Managing VAT and indirect tax compliance is becoming tougher every year. Multi-national companies filing in numerous jurisdictions have to deal with the process of preparing indirect tax returns, European Union Intrastat declarations and sales and purchase listings in countries with widely varying requirements and complexities. Even companies operating in a limited number of countries and companies that primarily have exempt supplies can have complex filing processes or significant partial exemption calculations to perform.


Get control of your VAT compliance processes

ONESOURCE Indirect Tax Compliance streamlines the return process by rapidly consolidating data feeds from multiple systems and providing country-specific validation of the tax data to ensure integrity. ONESOURCE Indirect Tax Compliance removes the need for complex, country-specific spreadsheets and provides automated tool support for the entire compliance function.

With ONESOURCE Indirect Tax Compliance, users have a single tool, with English and local language returns, that provides a common, structured, and controlled method of filing for all countries. Any changes to a county’s legislation is handled by Thomson Reuters. This helps ensure that centralised operations can realise cost-saving objectives whilst maintaining and improving quality. The software also helps ensure that companies that file returns locally use best practises in each region and that the process and data are highly visible across all regions.

ONESOURCE Indirect Tax is the market leading technology for VAT compliance

  • In-built and maintained VAT logic
  • Any number of tax jurisdictions can be licensed
  • Automated VAT returns from data taken directly from financial systems
  • Full support for VAT grouping and divisional reporting
  • Standardise your bespoke calculations into the automated solution
  • A variety of automation options to suit the needs of your business
  • Embedded detailed exception reporting
  • Full audit trail of data from the return back to the source
  • HMRC approved XML e-filing capability
  • Available as an on-premise application or hosted by Thomson Reuters

Benefits of ONESOURCE Indirect Tax Compliance

  • Increased compliance process efficiency up to 75% and cost reductions up to 50%
  • Replacing custom, in-house technology with a packaged solution can reduce IT and resource costs up to 30%
  • Faster, expedited returns can deliver significant cash-flow benefit
  • Automation tools reduce re-work and manual intervention giving you more time to plan and analyse data
  • Reduced compliance risk and improved Senior Accounting Officer (SAO) sign-off

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