ONESOURCE | GCC VAT

A complete VAT solution powered by automation and tax expertise

 Connect data. Automate workflows. Increase accuracy. Reduce risk.
 
  • Deployable on-premises and on cloud
  • Connects to multiple ERP systems
  • Customizable global solution with a local focus

Automate VAT with zero customer impact

In the constantly changing GCC tax landscape, VAT management and reporting can be a challenge for any business, especially when resources are limited and existing IT systems are not fit for purpose. 

If you feel that slow manual processes and IT issues are holding back your VAT compliance capabilities, we can help you to introduce an automated solution that reduces cost, errors and risks.

ONESOURCE Indirect Tax allows companies to automate transactions without the headache of managing and maintaining an in-house tax engine or reporting system. In a few short weeks, Thomson Reuters can help you to set up your business to manage VAT with ease and confidence.

Using ONESOURCE Indirect Tax has enabled our clients to comply with tax authorities’ requirements and submit accurate, timely VAT returns:

  • Increasing efficiency by up to 75%
  • Reducing costs by up to 50%
  • Significantly lowering compliance risk and eliminating the risk of penalties

See ONESOURCE in action

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ONESOURCE provides greater data transparency and control 

Accuracy through automation

ONESOURCE Indirect Tax eliminates manual, time-consuming transaction processes and reduces the reliance on key team members understanding the VAT compliance and reporting process

Manage regulatory change and avoid penalties

Thomson Reuters has a dedicated tax research team based in the GCC, focused exclusively on maintaining and updating all local VAT rates, rules and regulations, across all our products. You can be confident that your tax calculation, validation and VAT forms are always 100% correct

Reduce IT dependency

There’s no major IT involvement required for integration and no need to reconfigure your financial system. This removes tax professionals’ dependency on IT to control your company’s tax policy updates

ONESOURCE Indirect Tax Key features 

Automate returns and filings

Standardize the return process across your business globally, with English and local languages available

Trusted tax content

Access automatic tax rate updates for more than 19,000 tax authorities globally, backed by an internal team of tax research experts. Constantly monitoring global tax law changes, the ONESOURCE Indirect Tax team supports determination in 190 countries, where you’ll benefit from complete, accurate and up-to-date rates and rules on goods and services for tax authorities at the country, state, provincial and municipal levels

Centralized dashboard

View real-time metrics and updates in a centralized dashboard, so you have increased transparency and complete visibility from the source data all the way down to the transactional level and back

Robust Reporting

Powerful reporting capabilities for GL reconciliation, high value transactions, and more, supporting your global compliance, and data analysis process with fast and flexible reporting - giving you the tools your stakeholders need

Proven performance

Calculate correct tax amounts in milliseconds and easily handle millions of transactions daily

Digital reporting

Meet new and increasingly prevalent digital tax reporting requirements with support for SII, SAF-T and more