VAT Compliance Standardize the entire Value Added Tax compliance process

Indirect Tax
VAT Compliance

Automate VAT return preparation in single or multiple countries

Value added tax software that increases efficiency, reduces cost and lowers compliance risk

Multi-national companies filing in numerous jurisdictions have to deal with the process of preparing value added tax (VAT) returns, Intrastat declarations and sales and purchase listings of their goods and services in countries with widely varying requirements and complexities.

Put one of the tax and accounting industry’s most trusted products to work for your global business. Accelerate the value added tax return process to speed up monthly payments. ONESOURCE Indirect Tax VAT Compliance streamlines the return process by rapidly consolidating data feeds from multiple systems and providing country-specific validation of the tax data to ensure integrity.

Instead of developing expensive in-house solutions or depending on your ERP, ONESOURCE Indirect Tax VAT software can help your multi-national company remove the manual burdens of compliance that many tax departments experience while trying to maintain their tax content and changes in tax regimes across multiple jurisdictions. Our solution empowers corporations to increase data integrity, minimize risk and automate data collection so you can focus on indirect tax compliance and respond quickly to changing tax regulations.

Features & benefits of our VAT compliance software

Cost and cash flow benefits

  • Clients have reduced compliance costs by up to 30% by replacing their in-house technology with ONESOURCE Indirect Tax and reduced internal resourcing requirements
  • Clients in a repayment position have been able to expedite their returns resulting in a cash flow benefit of up to £100,000
  • More time to review data has meant that VAT recovery generally improves
  • Clients can focus on planning and adding value as the automation tools offer the potential for reducing re-work and manual intervention
  • More efficient preparation of Intrastat, ESL, ELP returns can result in up to 75% increase in process efficiencies

Organizational benefits

  • Reduced reliance on team members understanding the VAT compliance process
  • Embedding electronic filing into the VAT return process and audit trail
  • Addresses board concerns over Senior Accounting Officer sign-off for indirect tax processes and provides a robust case for taking “reasonable care” in the case of errors leading to potential penalties

VAT Compliance — even in the most complicated tax regimes

ONESOURCE Indirect Tax VAT Compliance gives your company the confidence to go beyond borders and ensure fully up-to-date VAT returns – especially in countries that have extremely complex taxation systems such as Brazil.

Thomson Reuters can help you meet Brazil’s unique compliance requirements within the SPED system, including the submission of documents such as Nota Fiscal Eletrônica (NFe) or electronic invoice, and the Conhecimento de Transporte Eletrônico (CTe) or electronic bill of lading. Our VAT software includes a suite of products for compliance in Brazil called Documentos Fiscais eletrônicos (DFe), or electronic fiscal documents. Created by Brazil-based Thomson Reuters company, Mastersaf, our compliance software is maintained and constantly updated in Portuguese by our top tax experts working in Brazil.

Find out how ONESOURCE VAT compliance software goes a long way toward minimizing the need to identify and correct errors in the tax data, saving time and valuable resources.