ONESOURCE

ONESOURCE Indirect Tax Australia’s preeminent global indirect tax software solution

Indirect Tax

GST, VAT & JCT Compliance & Determination

A comprehensive suite of GST tax software

Thomson Reuters ONESOURCE Indirect Tax is a global software solution that helps achieve a higher level of indirect tax compliance through automation of currently manual processes. The software allows you to improve your cashflow and protect your reputation by reducing indirect tax errors, associated penalties and late payment interest charges.

Indirect Tax Compliance Software

ONESOURCE Indirect Tax Compliance automates the production of indirect tax returns and includes comprehensive exception reporting and return preparation workpapers, designed specifically for local tax rules and rates. A global product tailored for local needs, ONESOURCE Indirect Tax has the spreadsheet look and feel you are used to, and is backed by a database environment with tax targeted functionality unavailable in generic spreadsheet models.

The solution offers indirect tax professionals:

  • Efficiency
    • Save time and increase accuracy when preparing your returns with automated workpaper generation, including notes, cross-referencing, and roll-forward processes.
    • Standardise your indirect tax return preparation processes across your organisation, within the Asia Pacific region and across the globe.
  • Control
    • Standard workpapers help substantiate your returns by providing a full audit trail from your accounting, procurement, and billing systems to your return.
    • Benefit from the quality and integrity of content provided by a Big 4 accounting firm.
    • Generate reports that perform the same transaction level tests that tax authorities undertake during an audit.
  • Flexibility
    • Insert and customise schedules in your workpapers to suit your needs.
    • Create your own reports to capture information for both tax analysis and management reporting.
    • Create and control your own formulas and variables to link and reference.

Indirect Tax Determination Software

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 the Thomson Reuters Tax Determination engine and still deliver business-specific tax policy across multiple business systems.

Fully integrated to all your financial applications, Determination enables the passing of transactional 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 fully supported standard Oracle and SAP integrations, as well as custom integrations via our tax calculation web services.

When integrated with our ONESOURCE Indirect Tax compliance solution, Determination gives you the power and flexibility to streamline your existing tax return processes. This comprehensive offering puts complete control into the hands of the preparer and enables you to recognise improved efficiency, reduced costs of ownership, and the elimination of ongoing software updates and maintenance.

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