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About ONESOURCE Indirect Tax Compliance

ONESOURCE Indirect Tax Compliance is a compliance process management tool that's designed to give you automation, structure, control, and security to the management of VAT and GST filings.
The system VAT/GST compliance-related ERP data feeds and reports into a consolidation database. This combines the data with other data feeds from multiple sources and then maps to the tax codes that ONESOURCE Indirect Tax Compliance uses to identify where each line item from the ERP should be mapped on the relevant returns.
You can run interrogation testing upon import without interrupting the compliance process. Any transactions that get flagged as an inconsistency continue to transfer to Returns, but you can choose to correct and adjust these at the transaction level.
As a further review, you can run standard or custom reports against the imported datasets and again decide to correct or adjust at the transaction level.
Generally, the next stage in the compliance process is to review the returns for the country: the VAT/GST Return and Listings (ESL/EPL/Intrastat), if applicable. These returns get populated automatically based on the underlying logic with the transaction data.
Subject to the necessary security rights, you can annotate, adjust, review, finalize, and submit the working paper to the relevant tax authority. Where the system supports e-filing, you can submit the return to the tax authority website.

This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance,ONESOURCE Indirect Tax,ONESOURCE Indirect Tax Compliance

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