SOURCE: Thomson Reuters

Thomson Reuters

February 02, 2010 09:30 ET

Thomson Reuters Announces Availability of Winter 2010 Sabrix Managed Tax Service™

New Features Streamline Sales and Use Tax Compliance, While Maximizing Visibility and Control

SAN RAMON, CA--(Marketwire - February 2, 2010) - The Tax & Accounting business of Thomson Reuters announced today availability of Sabrix Managed Tax Service (MTS) Winter 2010 version. Sabrix MTS combines an on-demand version of the same trusted tax platform that powers over $1.7 trillion in transaction taxes for companies worldwide, service from a multidisciplinary team of tax experts, and SAS 70 certified processes. The latest version includes a new remittance and filing service, and additional reporting capabilities to provide an end-to-end solution for sales and use tax compliance, while increasing visibility and control so that financial executives can feel confident outsourcing the process.

As a software as a service (SaaS) offering, Sabrix MTS Winter 2010 is automatically available to existing clients at no additional fee. Sabrix MTS Winter 2010 feature highlights include:

--  Enhanced integrated filing and remittance workflow dashboard, which
    allows clients to monitor, view and approve returns and tax payments at
    each critical milestone for complete control, without the cumbersome
    task of managing the process.
--  Electronic signature capabilities for paper returns, saving time and
    money.
--  Audit, return reporting and return to G/L reconciliation to meet
    increasingly complex audit requirements.
--  Powerful analytics powered by SAP Business Objects provide detailed
    information all the way down to the transaction level, giving finance
    executives increased visibility and control.
--  Additional reports, including a new return summary report, which
    summarizes standard return fields by tax return, including key
    adjustments needed to reconcile total tax collected per return to net
    tax remitted per return.
--  New reporting dashboard that provides easy access to extensive library
    of reports.

"With ever changing tax laws and increased volume of audits as revenue hungry states look for ways to reduce deficits, transaction tax compliance is more complex and cumbersome than ever," said Pam Kostka, Vice President Marketing, Sabrix Tax Services, part of the Tax & Accounting business of Thomson Reuters. "Combining best-in-class remittance and filing services, and leading edge technologies, including SAP Business Objects' analytics engine, Sabrix MTS Winter 2010 aims to reduce the operational headaches associated with transaction tax compliance for companies of all sizes and reinforces our commitment to helping clients achieve compliance with confidence."

Acting as an extension of a company's finance department, Sabrix MTS' tax experts, proven software, and best practices minimize the hassle, reduce the costs, and limit audit exposure of sales tax compliance. The service addresses the complete tax management process, including address validation, tax rate maintenance, determination and calculation, signature-ready return preparation as well as audit research and documentation. Sabrix MTS is available as a subscription service, allowing companies to pay based on their usage. Customers of Sabrix MTS benefit from the millions of dollars invested in technology, security, tax content and industry proven best practices for a simple subscription price. More customer case studies and other information are available online: http://www.sabrix.com/managedtaxservice

Pricing and Availability

Sabrix MTS Winter 2010 is available now. Pricing is on a subscription basis and is based off of a company's transaction tax complexity. For more information, visit http://www.sabrix.com/managedtaxservice.

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.

Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Dallas, Dexter (Michigan), London, Sydney, and Toronto, and offices in nine countries. For more information, go to http://thomsonreuters.com/products_services/taxacct/.

Sabrix and Sabrix Managed Tax Service are trademarks of Thomson Reuters. All other company and product names are trademarks or registered trademarks of their respective holders.

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