ONESOURCE Determination
Automates real-time sales, use, and VAT tax calculations across global jurisdictions for simplified compliance.
Executive Summary
ONESOURCE Determination by Thomson Reuters is a real-time tax calculation engine designed to simplify sales, use, and value-added tax (VAT) compliance for corporations. It automates the complex process of determining transaction taxes across various global jurisdictions, helping tax and IT teams reduce manual effort and ensure accuracy. The solution is built on cloud-native technology, enabling automatic updates to the latest tax rates and rules without downtime. It integrates seamlessly with existing enterprise resource planning (ERP) systems and other business applications, providing a unified approach to indirect tax management. ONESOURCE Determination also includes features for managing sales tax exemption certificates, further streamlining compliance workflows. By automating tax determination, ONESOURCE Determination helps businesses address the growing complexity of indirect tax regulations, improve efficiency, and mitigate compliance risks. It is trusted by many major corporations for its robust capabilities in handling sales and use tax, GST, VAT, and excise tax reporting.
Use Cases
- Real-time sales and use tax calculation at the point of transaction.
- Automated VAT and GST determination for global operations.
- Managing and validating sales tax exemption certificates.
- Reporting on sales, use, GST, VAT, and excise taxes using the latest rates and rules.
- Integrating tax calculations with existing ERP and e-commerce systems.
Features
Visibility
- Centralized Configuration: Configure company structure and tax calculations for global jurisdictions.
- Exemption Certificate Management: Effortlessly collect and manage customer exemption certificates.
Intelligence
- Real-time Tax Determination: Automates sales, use, VAT, and GST calculations instantly at the point of transaction.
- Automated Tax Rate Updates: Automatically updates to the latest tax rates and rules with no downtime.
Technical Specifications
- Architecture
- Cloud-native
- Deployment
- SaaS
- API Available
- Yes
Integrations
- ERP Systems
- E-commerce Platforms
Security & Compliance
Certifications: GDPR
Encryption: Robust data protection including encryption for sensitive tax data.
Pricing
- Starting Price
- Contact sales
- Target Customer
- Mid-Market,Enterprise
About Thomson Reuters Corporation
Thomson Reuters Corporation is a Canadian multinational content-driven technology conglomerate that integrates trusted content and technology to support decision-making for professionals and organizations. It offers specialized software and insights across legal, tax, accounting, compliance, government, and media sectors, serving a diverse customer base globally.