Thomson Reuters today announced ONESOURCE Indirect Tax Integration for Oracle 12 Inventory Movement. Building on the company’s Gold level membership in the Oracle PartnerNetwork (OPN), the latest integration reduces the risk from audit penalties resulting from changes in inventory usage.
For example, components initially purchased for inclusion in manufactured goods often end up being used internally. This is a common audit red flag as once the status of the goods change, sales or use tax should be assessed. As a result, manufacturers may be at risk for use tax non-compliance.