VAT & GST
ONESOURCE Indirect Tax solutions for Value Added Tax (VAT) and Goods and Services Tax (GST) provide complete global tax management solutions to your company's VAT, GST, and other international and industry-specific needs, enabling a level of accuracy no other tax solution can match.
Critical today for all companies doing business globally, ONESOURCE Indirect Tax solutions for VAT and GST seamlessly handle U.S. imports, deliver complete VAT and GST accounting management, fully address EU taxation, and deal effectively with complex international tax requirements for over 170 countries - including multilevel tax in Brazil, Canada, and India.
ONESOURCE Indirect Tax software evaluates the invoice, the address, and other information passed as part of the invoice, automatically determines the buyer's VAT (Value Added Tax) obligation in all jurisdictions, and calculates the correct tax.
It also evaluates taxation based on the presence or absence of local registration by the buyer and seller. Once the jurisdictions for a transaction have been determined, customer and product information is utilized to identify if exemptions or special rates might apply.
The ONESOURCE Indirect Tax solution for VAT software delivers all required accounting entries for VAT transactions including:
- Standard Input and Output VAT
- Import VAT
- Export Sales
- Reverse Charges
- Distance Sales