Thomson Reuters Understands Your Tax Needs in China

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ONESOURCE CORPORATE TAX - TRANSFORMING TAX COMPLIANCE

Demands surrounding corporate tax compliance are increasingly complex in today's changing environment. Common concerns relate to data integrity, data transparency, risk management, and the requirement to respond flexibly to changing regulations such as electronic filing.

There are regulatory and professional business risks for those companies that get it wrong. It is increasingly necessary to ensure adequate controls are in place to manage risk, withstand tax authority audits, and avoid penalties.

Many organizations continue to find their tax experts are consumed by the manual aspects of the compliance process, such as data collection and the presentation of disclosures, instead of how to add value to the business. Internally developed tools may help address some of the challenges, but their maintenance can be time consuming and costly, especially where such work is not the core function of the resource undertaking it.

Thomson Reuters can help address all these issues with our ONESOURCE Corporate Tax China solution.

ONESOURCE Corporate Tax China features:

• Intuitive software with minimal training requirements
  
• Automated data import from accounting systems
  
• Automatic roll-forward of prior year data
  
• Automatic validation of input data
  
• Fully maintained tax calculations and rates, without the need for independent safeguards
  or audit-committee approvals
  
• Built-in return forms, including branch returns for resident and non-resident companies, forms for Shanghai, and related party transactions
  
• Full audit trail of changes
  
• Calculation schedules and returns available in Chinese (simplified) and English
  
• Ability to print directly for submission to the tax authority
  

The Secure Solution

ONESOURCE Corporate Tax China can be delivered to you as a standard software installation or through a web service hosted remotely at a Thomson Reuters global data centre. This will give users anytime access to the software and offers the following benefits:

• Minimal requirement from your local IT team to deploy the software and future updates
• Software updates available immediately
• Support benefits
  

ONESOURCE Corporate Tax China is just one of the many ways Thomson Reuters continues to break boundaries in the world of tax and accounting. It's part of our commitment to create innovative solutions that help you manage your tax challenges wherever you do business.