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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Gbaf News

    Posted on September 23, 2013

    Featured image for article about Top Stories

    New functionality supports increasingly complex indirect tax needs
    Thomson Reuters today announced a new version of ONESOURCE Indirect Tax; an end-to-end solution that delivers initial tax determination and calculation through to final compliance reporting.

    financial business

    financial business

    The release underscores Thomson Reuters’ commitment to provide global solutions that help small to medium-sized businesses and global multinational corporations achieve confidence and global transparency in their indirect tax compliance processes across all business entities and locations.

    ONESOURCE Indirect Tax is already the leading global indirect tax compliance solution, and this release extends functionality and coverage to 42 countries including Bulgaria and Romania. It also adds new e-filing capability in Australia and group functionality in Finland, Slovakia, Portugal and Romania.

    In a recent survey (“The 2013 Benchmark Survey on VAT/GST” by KPMG International) two-thirds of respondents in Europe, Middle East and Africa and one-third in the rest of the world believe that VAT/GST rates will increase in the next three years, indicating governments’ continued reliance on indirect tax revenue. For businesses charted with collecting this tax on behalf of government, VAT/GST changes directly impact the operational resources required to achieve compliance.

    Highlights of the latest release include:

    • Major new functionality to help Intrastat compliance including new coverage across nine EU
    • countries, enhanced coverage across European Sales and Purchase Listings and direct filing.
    • Enhanced automation functionality to drive greater efficiency and improve process control.
    • A suite of additional analytics to help drive down risk and improve compliance data accuracy.

    “In the past, it was sufficient to keep abreast of in-country developments. However, as businesses increasingly go global and more countries rely on VAT and GST for revenue, companies must now be aware of what is happening worldwide,” said Mike Roberts, managing director, corporate market, for the Tax & Accounting business of Thomson Reuters. “This is just one of the many ways we are helping global businesses achieve confidence and global transparency in their indirect tax compliance processes.”

    ONESOURCE Indirect Tax is supported by tax experts who maintain the broadest and deepest coverage of tax content in more than 175 countries.

    About Thomson Reuters
    Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets powered by the world’s most trusted news organisation. With headquarters in New York and major operations in London, Singapore and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com

    CONTACT
    Contact
    Tina Allen
    Public Relations [email protected] +44 (0) 207 375 6814

    New functionality supports increasingly complex indirect tax needs
    Thomson Reuters today announced a new version of ONESOURCE Indirect Tax; an end-to-end solution that delivers initial tax determination and calculation through to final compliance reporting.

    financial business

    financial business

    The release underscores Thomson Reuters’ commitment to provide global solutions that help small to medium-sized businesses and global multinational corporations achieve confidence and global transparency in their indirect tax compliance processes across all business entities and locations.

    ONESOURCE Indirect Tax is already the leading global indirect tax compliance solution, and this release extends functionality and coverage to 42 countries including Bulgaria and Romania. It also adds new e-filing capability in Australia and group functionality in Finland, Slovakia, Portugal and Romania.

    In a recent survey (“The 2013 Benchmark Survey on VAT/GST” by KPMG International) two-thirds of respondents in Europe, Middle East and Africa and one-third in the rest of the world believe that VAT/GST rates will increase in the next three years, indicating governments’ continued reliance on indirect tax revenue. For businesses charted with collecting this tax on behalf of government, VAT/GST changes directly impact the operational resources required to achieve compliance.

    Highlights of the latest release include:

    • Major new functionality to help Intrastat compliance including new coverage across nine EU
    • countries, enhanced coverage across European Sales and Purchase Listings and direct filing.
    • Enhanced automation functionality to drive greater efficiency and improve process control.
    • A suite of additional analytics to help drive down risk and improve compliance data accuracy.

    “In the past, it was sufficient to keep abreast of in-country developments. However, as businesses increasingly go global and more countries rely on VAT and GST for revenue, companies must now be aware of what is happening worldwide,” said Mike Roberts, managing director, corporate market, for the Tax & Accounting business of Thomson Reuters. “This is just one of the many ways we are helping global businesses achieve confidence and global transparency in their indirect tax compliance processes.”

    ONESOURCE Indirect Tax is supported by tax experts who maintain the broadest and deepest coverage of tax content in more than 175 countries.

    About Thomson Reuters
    Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets powered by the world’s most trusted news organisation. With headquarters in New York and major operations in London, Singapore and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com

    CONTACT
    Contact
    Tina Allen
    Public Relations [email protected] +44 (0) 207 375 6814

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