OREANDA-NEWS. Thomson Reuters and NEC Corporation have signed a strategic agreement to provide integrated tax solutions to Japanese multinational corporations. Their combined offering will support the mission critical systems of Japanese MNCs in accurately determining, recording and reporting transactional taxes.

Under this agreement, NEC will combine the international award-winning ONESOURCE Indirect Tax(tm) solution from Thomson Reuters with its Enterprise Resource Planning (ERP) solutions as a robust offering to Japanese companies with global operations.

Thomson Reuters ONESOURCE(tm) suite was recognised as a leader in innovating corporate tax technology by leading tax news and analysis publication International Tax Review and named "America's Tax Innovator of the Year" consecutively in 2012 and 2013.

ONESOURCE Indirect Tax enables companies to practically eliminate the effort associated with maintaining ERP systems based on frequently changing domestic and international tax rules and regulations. The solution allows changes to be applied quickly without the typical burden to IT, thereby reducing company costs and strengthening global governance and internal controls. More than 600 top global companies have benefitted from ONESOURCE Indirect Tax.

ONESOURCE Indirect Tax provides customers with the following benefits:
* Integrates with mission-critical systems on a real-time basis.
* Automatically determines the tax on sales and purchase transactions that cover 178 countries, including cross border logic (SUT: Sales & Use Tax, VAT: Value Added Tax, GST: Goods & Services Tax).
* Automatically delivers changes to certified global tax content, which is monitored, confirmed and updated by the Thomson Reuters global tax research team.
* Minimises loss in time, money and effort from errors due to manual or subjective tax decisions made by non-tax personnel.
* Allows customers to automate the preparation of compliance documentation for 45 countries
* Provides easy access and review of current and historical consolidated tax liability data for compliance processing and audit purposes.
* Allows companies to quickly support additional country expansion plans for their global operations.