Indirect Tax determination

Global Tax Determination
Corporate tax rates are at an all-time high, as
government agencies must solve their budget
shortfalls. They look to increase indirect tax rates and
audits for additional revenue sources. Simultaneously,
auditors are becoming even more sophisticated at
identifying errors and recovering taxes, putting an even
greater strain on a company’s revenue. Because of
constantly changing indirect taxes, companies of every
kind throughout the world are struggling to achieve
compliance. Faced with this type of aggressive audit
environment, tax departments are more focused now
on reducing risk by increasing accuracy, streamlining
end-to-end automation, and centralizing control of tax
determination and compliance.
A Greater Return on Investment
Corporate IT departments want to increase
performance and scalability, yet finance departments
do not want the added expense and demand lower
overall costs. As a result, companies are looking
for fully integrated solutions with a justifiable return
on investment (ROI) that can drive true cost savings
for finance.
Determination provides tax accuracy and automation,
IT performance and scalability, and the lower total cost
of ownership demanded by today’s businesses. It is the
only patented, fully integrated, end-to-end automation
of sales and use tax, GST, and VAT on the market. Our
solution provides business-critical tax determination
using timely tax content for the highest degree of
accuracy – from transaction to remittance.
When integrated with our ONESOURCE Indirect Tax
sales and use tax compliance solution, Determination
gives you the power and flexibility to streamline your
existing tax return processes. This comprehensive
solution puts complete control into the hands
of the preparer and enables you to recognize
improved efficiency, reduced costs of ownership,
and the elimination of ongoing software updates
and maintenance.
Fully integrated to all your financial applications,
Determination enables the passing of transaction
data from the financial system to the tax engine, and
returns transaction taxes in real time for fast, reliable,
and accurate indirect tax determination. We offer
Response Data
Company-Specific Configurations
Global Tax Content
Detailed Determination, Calculation & Recording
Determination is a Fully Integrated Solution
ONESOURCE Indirect Tax determination enables
companies to consolidate their global tax policy in one
central location. All enterprise-wide applications can
use a single, scalable instance of Thomson Reuters tax
determination engine and still deliver business-specific
tax policy across multiple-business systems.
Request Data
Thomson Reuters ONESOURCE Indirect Tax
determination delivers a justifiable ROI and a truly
automated solution that gives a consolidated, realtime view of transaction tax exposures — domestically
and worldwide. It’s a reliable, web-based solution
that determines your company’s liability for sales tax,
use tax, GST, VAT, excise tax, and other countryspecific taxes using the most current tax rates and
rules, ensuring timely, accurate, and cost-effective
compliance. And this can all be done no matter
what business changes or tax law changes your
company encounters.
fully supported standard Oracle and SAP integrations,
as well as custom integrations via our tax calculation
web service.
Tax Certificate Manager
Determination integrates with all your financial applications to
consolidate your company’s global tax policy in one central location.
ONESOURCE Indirect Tax Certificate Manager is
also integrated with Determination. This enables
the export of customer and exemption certificates,
precise tracking, validation, and the governing of
exemption certificates. ONESOURCE Indirect Tax
Certificate Manager improves efficiency in all aspects
of the burdensome, exemption-certificate lifecycle
by reducing operating costs, mitigating risk, and
increasing accuracy.
Indirect Tax Automation Simplifies the
Tax Compliance Process
Our comprehensive global tax determination solution
monitors over 14,000 taxing jurisdictions in over
175 countries, delivering automated monthly tax
updates of our SSAE 16 certified global tax research
processes. Thomson Reuters has a full-time team of
in-house global tax and legal experts that research
tax regulations and maintain up-to-date tax content
changes. This relieves tax and finance professionals
from the burden of keeping track of constantly
changing tax rates and rules, or maintaining these
changes in multiple systems.
Determination you frequent the most
All of these features highlight our robust,
consolidated approach to indirect tax automation
and have been proven to effectively manage
accounting standards so that tax liabilities are
determined and calculated accurately.
Hundreds of client sites in over 140 countries have
implemented ONESOURCE Indirect Tax determination.
Most important, we have helped organizations around
the world simplify the tax compliance management
process by reducing:
ȕ Manual, time-consuming transaction processes
ȕ Expensive compliance costs
ȕ Errors associated with over assessing or under
assessing tax
ȕ Potential penalties and interest
ȕ Training to non-tax professionals on tax policies
ȕ Dependency on IT to update your tax policy
Thomson Reuters not only provides patented
technology for managing indirect tax processes,
the most accurate tax content, and the top domain
experts, we deliver higher degrees of tax compliance
Valuable features include:
ȕ Standard integrations with SAP and Oracle
ȕ Tax calculation and configuration web services
ȕ Multifaceted transaction logic for global crossborder transactions, maximum taxes (Max Tax),
triangulation and chain transport, and more
ȕ Core Brazil tax types and content to support sales
and purchase transactions for goods and services,
including tax calculation logic for PIS, COFINS,
ICMS, IPI, ISS, II, and Brazil ICMS tax substitution
ȕ Exemption certificate management
ȕ Custom authorities to assess fees such as recycling
and specialty taxes not generally offered as
standard tax data
ȕ Product qualifiers, allowing Determination to
automatically assign a product code, commodity
code, and/or a transaction type on an incoming
transaction — and to even override an existing code
on a transaction
ȕ Tax code qualifiers, permitting you to define and
apply your own ERP tax code to each tax result
ȕ Configuration web services, enabling data
integration with user accounts, companies, product
mappings, and established authorities
ȕ QuickLinks to define your own links that ultimately
help simplify navigation to the pages of
Determination Home Page
1.888.885.0206, Ext. 1
[email protected]
© 2012 Thomson Reuters/ONESOURCE. All Rights Reserved.