ONESOURCE Indirect Tax

The centralized, automated approach to managing the complexities of sales tax, use tax, and VAT compliance

Highlights

  • Patented tax determination engine
  • Certified integrations to ERPs
  • Support for complex tax regimes
  • E-filing for sales and VAT return

Intended for

  • Corporate Accountant
  • Tax Accountant
  • Tax Manager

Description

ONESOURCE Indirect Tax delivers a consolidated approach to achieving higher degrees of sales and use tax and value-added tax compliance. It is a global, end-to-end solution that integrates in real time with finance applications designed to manage the entire indirect tax management lifecycle from tax determination and calculation, to tax policy configuration and reporting, and all the way through to compliance activities to meet returns filing, remittance, and audit requirements. Its tax-content driven calculation solution covers over 14,500 taxing jurisdictions in over 175 countries, delivering on-time monthly tax updates via SSAE 16 certified global tax research processes. 

Features

Benefits

Supports global transactions including in emerging markets

Centralized tax department control regardless of geographic location or tax regime complexity as well as global support for acquisitions, mergers, and expansion.

Patented tax determination engine with embedded tax rules and logic and product taxability

Remove human error - No need to rely on manual selection

Complete modeling capabilities

Enables effective tax planning strategies

Detailed transaction and compliance tax reporting

Ensures audit defense and preparedness

Real time integration to multiple financial applications

Reduces need for IT to support tax function in business applications and ensures consistent tax liability data across multiple business systems

E-filing for simple and timely U.S. & VAT compliance

Improve cash flow, decrease DSOs related to tax, and reduction of fines and penalties in audit

Robust exemption certificate management capabilities

Facilitates the accumulation, electronic storage, and maintenance of valid exemption certificates in a consolidated repository and reduces or removes the need to store paper copies of certificates in storage cabinets.

Software Minimum Requirements

Client Tier: Microsoft Internet Explorer

Middle Tier: Apache Tomcat, Oracle Weblogic Server, Oracle 12gAS, IBM Websphere, SAP NetWeaver, or Red Hat JBoss AS

Database Tier: Oracle, DB2/UDB & Microsoft SQL Server

Operating System (all tiers): Windows HP/UX, Linux, and Oracle Solaris on SPARC

Hardware Minimum Requirements

Client Tier: No Minimum Requirements

Middle Tier: RAM–1 GB; CPU: No Minimum Requirements; Disk Space: 500 MB

Database Tier: RAM–512 MB; CPU: No Minimum Requirements; Disk Space: 2 GB Oracle, DB2/UDB & Microsoft SQL Server

Operating System: Windows, HP/UX, Linux, and Oracle Solaris on SPARC

Case Study

ONESOURCE Indirect Tax improves Cisco’s ability to respond rapidly and accurately

Cisco needed a central audit and compliance database.  See how they achieved real-time, global tax determination for each transaction.

Case Study

Integrating Transaction Tax Solutions Globally for the New World

Despite the challenges of maintaining compliance with cross-border tax requirements and determining sales and use tax, GST and VAT, learn how Lenovo achieved global alignment of its tax strategies with business processes.

White Paper

The Advantages of Automating VAT Determination and Compliance

Learn how using software to automate the VAT determination and compliance processes relieves some internal pressures on company resources without disrupting existing ERP processes.

  • Carla Yrjanson

    VP of Tax Research & Content

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