Thomson Reuters: More Tax Services Are Better Maybe?

May 28, 2020

Once upon a time, Thomson Reuters was a news outfit. There was Lord Thomson, the much loved Lord Thomson of Fleet to be exact. There was Reuters, the nemesis to the once proud entities of AP and UP. The now bundled firm has branched out and now calls itself “the answer company.” The revamped Reuters already offers these tax services: CS Professional Suite, Checkpoint, OneSource, Aumentum, Onvio, and let’s not forget about Carswell. Who knows what each of these means or does? Not DarkCyber. Nevertheless, the company needed to find something to new make itself more technologically chic. BobsGuide announces its recent move in, “Thomson Reuters Enhances Strategic Partnership with Path Solutions for ONESOURCE Centralized Tax Solution.”

This partnership targets Path Solutions’ Islamic audience; that company specializes in Sharia-based banking software and services and contracts with clients in 40 countries. The write-up reports:

“Thomson Reuters, provider of the industry’s most powerful tax and accounting technology for corporations, and Path Solutions, provider of intelligent software solutions to Islamic banks and financial institutions, have enhanced their existing partnership to provide the GCC’s [Gulf Cooperation Council’s] financial services sector with an opportunity to introduce automation, efficiency and accuracy into tax workflows and core banking operations. By combining the power of Thomson Reuters ONESOURCE’s best-in-class indirect tax solution certified by the UAE Federal Tax Authority, and Path Solutions’ Sharia-compliant iMAL Islamic Core Banking Platform, this strategic partnership—unique in the GCC market—offers banks and financial institutions the tools to provide innovative and frictionless financial services and achieve seamless VAT [Value Added Tax] management and compliance supported by globally-trusted tax content. iMAL gives its clients the technology to meet the soundest Sharia and regulatory requirements, and to scale their businesses while also delivering personalised customer experience.”

Spokespeople from both organizations expect the partnership to prepare clients for fast-changing needs while keeping costs down and core principles intact.

Cynthia Murrell, May 28, 2020

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