Thomson Reuters has been named 2016 European Tax Technology Firm of the Year by International Tax Review. The award honors technology providers whose products have improved the efficiency of an in-house tax department.
International Tax Review’s European Tax Awards honor the best tax and transfer pricing firms in Europe and firms in the areas of tax policy, compliance and reporting. The awards also recognize deal awards in industry sectors and practice areas such as M&A, media and entertainment, capital markets, technology and telecommunications.
Thomson Reuters earned the award for Thomson Reuters ONESOURCE Indirect Tax Compliance; the solution was recognized for delivering significant process improvements, increased efficiency and time savings for a customer’s in-house tax department. ONESOURCE helped the customer to reduce their time spent on data extraction by 83 percent and the resources required to prepare for an audit dropped by two-thirds. As a result, their overall compliance risk rating decreased from medium to low.
“ONESOURCE Indirect Tax was designed to ease obstacles and help companies achieve efficiency as they manage their compliance needs,” said Laurence Kiddle, managing director, Corporate Market, EMEA, for the Tax & Accounting business of Thomson Reuters. “Our solution’s strengths lie in both the power of the technology and in the depth and breadth of the content curated by our experienced global research team that helps our customers stay ahead of the ever-increasing volume and complexity of global indirect tax requirements.”
ONESOURCE Indirect Tax Compliance is part of the ONESOURCE Indirect Tax suite which manages the entire indirect tax management lifecycle in real-time, providing timely reports and trend analysis of compliance data across 14,500 taxing jurisdictions in more than 175 countries through its automated platform of software and cloud-based services.
Thomson Reuters ONESOURCE, the industry’s leading corporate tax technology platform, drives global tax compliance and accounting decision-making around the world. Across 180 countries, ONESOURCE helps companies stay in compliance, avoid penalties and audits, save time, and increase efficiency across every step of the tax lifecycle, including corporate income tax, indirect tax, property tax, trust tax, tax information reporting, transfer pricing, data management, and internal processes.