Tax & Accounting Blog

A Simpler Way to Keep Track of Indirect Tax

A Simpler Way to Keep Track of Indirect Tax

Indirect tax – which encompasses consumption, transaction, value-added, and sales and use taxes – can cost businesses thousands of dollars to manage each year. Though keeping track of indirect tax is a legal obligation, staying on top of constantly changing tax rates and rules can be overwhelming. Additionally, if it is done incorrectly, businesses risk … Read More

Thomson Reuters Announces ONESOURCE Indirect Tax Integration for Oracle 12 Inventory Movement

Thomson Reuters Announces ONESOURCE Indirect Tax Integration for Oracle 12 Inventory Movement

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 … Read More

The Advantages of Automating VAT Determination and Compliance

The Advantages of Automating VAT Determination and Compliance

Many users of the world’s most sophisticated and widely embraced enterprise resource planning (ERP) systems still use desktop spreadsheets to manage their value-added tax (VAT) and statistical filing processes. It’s labor-intensive work that may not catch every error and leaves the VAT processes without rigorous controls. It also puts companies at increased risk at a … Read More