Thomson Reuters today announced the launch of ONESOURCE Indirect Tax Rates, a new data and research offering that provides sales and use tax information from over 14,500 tax authorities in the U.S.
The customizable, constantly-updated data enables companies to conduct tax determination and calculation processes accurately and efficiently, ensuring their compliance with local tax codes. It also brings every user the same reliable tax research content traditionally used by many Fortune 1000 companies.
Thomson Reuters recently acquired Tax Data Systems, the leading provider of sales and use tax data, in order to offer this new service that is directly supported and maintained by its ONESOURCE Indirect Tax research and content experts.
ONESOURCE Indirect Tax Rates delivers the most robust, current and localized indirect tax information available by tracking thousands of U.S. tax jurisdictions. It is completely customizable and affordable based on a specific firm’s needs, giving them access to tailored data down to a specific zip code or zip+4.
The data is available at the state level or for all of the U.S. and Canada, making this a scalable product to meet the needs of any business of any size. The hosted database model can be uploaded directly into any ERP or e-commerce system for automatic alignment. New updated reports are automatically pushed so users can be sure they have the most accurate and up-to-date rate information available.
“In the U.S. alone, there are typically 700 to 800 indirect tax rate changes every year, creating a challenge for firms that need accurate, localized tax data to manage their indirect tax processes,” said Bernadette Sablan, Director of Tax Research and Content at Thomson Reuters. “With Indirect Tax Rates, Thomson Reuters customers can be certain that their indirect tax processes incorporate all tax and regulatory changes relevant to their business, all without sacrificing the bottom line.”
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