Thomson Reuters Launches Corporation Tax Solution with calculational muscle

02 September 2013

The Tax & Accounting business of Thomson Reuters today announced the launch of Digita Corporation Tax Advanced; a solution that provides tax professionals in medium to large practices with the calculational muscle to meet the increasingly complex demands of corporate tax compliance. Digita Corporation Tax Advanced gives firms the confidence that their tax processes are robust, accurate and reliable. The new software solution enables firms to efficiently manage the production of complex computations, reports and returns for international clients, trading and investment companies, oil ring-fenced trades, multi trades and REIT’s, as well as reduce manual input and calculation time.

The solution seamlessly links to the Digita Professional Suite of integrated tax and accounting software and allows the automatic tracking of deadlines and workflow from one central location. Digita Corporation Tax Advanced is powered by ONESOURCE, part of the Tax & Accounting business of Thomson Reuters that helps large multinational corporations manage ever changing tax compliance requirements in a range of countries. ONESOURCE Corporate Tax is used by over 50 per cent of the FTSE 100 to make computation preparation and review efficient and easy.

"Digita Corporation Tax Advanced is the one application that can do everything. The tax computation can be as simple or as complicated as you like."
Louise Fox, tax manager, Price Bailey commented.
"We add the information and it automatically picks up part disposals and substantial shareholder exemptions and calculates the capital gains. There are numerous options to develop CGT schedules which saves time rather than prepare and enter them ourselves."

Andrew Flanagan, Digita managing director, said:

"This is the most comprehensive integrated software solution for corporate tax in the UK market. With tax authorities demanding greater transparency, Digita Corporation Tax Advanced meets that challenge head-on by providing transparent architecture, clickable cross references, cross-checking and reconciliations to provide assurance that computations have been produced correctly and the risk of penalty is mitigated."

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