Technology
Thomson Reuters and EY Collaborate for International Tax Platform
Thomson Reuters’ Orbitax International Tax Platform is a native cloud application consisting of a series of fully integrated tools and workflow solutions to help tax departments keep pace with the ever-changing tax rules and regulations.
Jul. 01, 2020
Thomson Reuters is expanding its alliance with EY to help facilitate the implementation of the Orbitax International Tax Platform (ITP) utilized by corporate international tax departments. This alliance combines Thomson Reuters leading international tax information and workflow solution with the experience and knowledge of EY teams, helping customers to leverage greater efficiencies, lower costs, improved accuracy and reduced risk.
Thomson Reuters’ Orbitax International Tax Platform is a native cloud application consisting of a series of fully integrated tools and workflow solutions to help tax departments keep pace with the ever-changing tax rules and regulations. This innovative platform utilizes a global tax rules engine, providing in-depth expertise on the tax rules and tax rates of 195 countries. EY International Tax Services Professional teams and multi-disciplinary professional consulting and technical services will work alongside customers to configure and implement the ITP platform for corporate tax departments.
“This relationship expands the collaboration between two leaders in the international tax space,” said Brian Peccarelli, Chief Operating Officer, Customer Markets, at Thomson Reuters. “As we provide the technology and content, EY will execute the technical implementation and customize this technology to help drive the digital transformation programs within in-house international tax teams. With the many recent changes in global tax law and more expected on the horizon, Thomson Reuters’ Orbitax International Tax Platform will prove to be a valuable resource for corporate tax departments.”
The globalization and digitization of business has given rise to fast-changing tax rules and regulations, and these changes will only increase in frequency and in scope. Global businesses, particularly those located in the United States, must provide their tax departments with the tools to keep up with this complexity.
“In-house international tax departments continue to face the pressures of an ever-increasing workload, and they are exploring ways in which technology can have a positive impact on these pressures,” said Jeffrey Michalak, EY Global International Tax and Transaction Services Leader. “The expansion of the EY alliance with Thomson Reuters allows us to further leverage the advantage of that for the benefit of our respective clients.”
“We have built implementation teams with significant technical and commercial experience, which allows us to bring market-leading configuration and customization services to in-house international tax teams. The visibility that the International Tax Platform provides allows corporate tax departments to be more proactive and work with advisors more fluidly,” said Kate Barton, EY Global Vice Chair – Tax.
Thomson Reuters’ Orbitax International Tax Platform is part of the Checkpoint suite of products focused on solutions for in-house tax departments. EY has been designated Diamond Tier status for Thomson Reuters ONESOURCE Certified Implementer Program, with the firm previously being recognized as Thomson Reuters Taxologist of the Year for the same program in 2017.