PRLog – April 10, 2015 – ROTTERDAM, Netherlands — Tax Automation firm Tytho B.V. played a key role in the implementation of Thomson Reuters’ ONESOURCE Compliance Software for a major media company, adding another tool to its growing list of product efficiencies.
The media giant opted to use the Compliance software in an effort to centralize and standardize their filing procedures and European sales listings, while increasing control over the entire compliance process. The choice to use Thomson Reuters’ Compliance tool was heavily influenced by the fact that they already decide transaction taxability using a related product: ONESOURCE Indirect Tax Determination.
The project’s scope included 18 countries (15 EU member countries, and 3 non-EU countries, including South Africa) and over 30 business entities, most of which are required to file monthly VAT returns. Within the organization, the ONESOURCE Determination reporting module is leveraged to generate reports which are used to file the VAT returns and European Sales Listings. Thomson Reuters developed an SR6 extract for the project, which will create a report containing data on AR and AP transactions to be imported into the compliance tool.
“We are very excited to be able to partner on the implementation of this new tool in the EMEA region, and have developed a user training which was very well received by the client,” says Tytho Managing Partner Susanne de Nooijer-Kouwenhoven. “Thomson Reuters, as usual, provided some key support in creating the data extract for the project, and the client was also a pleasure to work with.”
Aside from their work with the ONESOURCE Compliance tool, Tytho is very active with ONESOURCE “Global Next” Integration and Determination projects, with several projects at varying stages of execution. They also have an in-house SAP ECC 6.0 environment running ONESOURCE, and their own Tytho Indirect Tax Logic (Tytho ITL), from which they can provide vendor selection services, demos, and training.
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