Tax & Accounting Blog

Thomson Reuters Helps Global Companies Comply with 2.5 per cent VAT Increase in the United Kingdom

Indirect Tax, Sales and Use Tax January 4, 2011

LONDON January 4, 2011 — The Tax & Accounting business of Thomson Reuters today announced the latest release of its ONESOURCE Indirect Tax global determination software – the first to support the 2.5 per cent increase to the Standard Rate of Value Added Tax (VAT) in the United Kingdom. The VAT rate increase, which the government will use to stimulate the UK economy, will increase from 17.5 per cent to 20 per cent on January 4, 2011.