New York, Aug. 10, 2010 – The Tax & Accounting business of Thomson Reuters today announced that it has achieved Oracle Validated Integration of its Sabrix Application Suite with Oracle E-Business Suite 12.1.

Building on its Gold level membership in the Oracle PartnerNetwork (OPN), the latest validation will provide companies with complex tax requirements a robust transaction tax solution. With increased ease of set-up and configuration, the Sabrix solution automates the process, eliminates manual error-prone configuration and helps companies to scale tax policies across the company.

“Thomson Reuters is committed to not only offering well known transaction tax technology, but also  extensive integration so our customers can cost effectively consolidate their sales and use tax and value added tax operations to achieve a higher degree of compliance,” said Stefan Blumer, director of application engineering of Thomson Reuters. “This latest validation underscores our commitment to the continual investment to build, maintain, and support solutions for use with Oracle applications.”

The Sabrix Integration version 5.2 for Oracle E-Business Suite 12.1 was built by an in-house team of experts using Oracle integration best practices. It employs standard Oracle integration techniques to enable the determination and calculation of taxes in the order-to-cash and procure-to-pay business process. In each of these application areas, Sabrix offers enhanced flexibility that enables the passing of additional customer-specific data elements, which can be critical for the accurate determination of usage and taxability within the Sabrix Application Suite.

”Oracle Validated Integration applies a rigorous technical review and test process,” said Kevin O’Brien, senior director, ISV and SaaS Strategy, Oracle.  “Achieving Oracle Validated Integration through the Oracle PartnerNetwork gives customers confidence that the integration between Sabrix and Oracle E-Business Suite has been validated and the products work together as designed. This can help reduce risk, improve system implementation cycles, and provide for smoother upgrades and simpler maintenance.”

With the Sabrix Integration version 5.2 for Oracle E-Business Suite 12.1, customers can:

• Eliminate the need for sales and accounting personnel to make tax decisions as Sabrix automatically determines and calculates tax based upon the attributes of a transaction, requiring no manual tax decisions during transaction processing
• Eliminate manual jurisdiction code or tax code assignments during transaction processing for increased tax accuracy and appropriate accounting/GL posting
• Eliminate the need to store and maintain tax rates within Oracle as tax rules, rates and logic are maintained within the Sabrix Application Suite
• Access robust, vendor-charged tax and accrual functionality for procure to pay process flows, including tax determination and calculation on purchase orders, and validation of vendor-charged tax on accounts payable invoices

Pricing and Availability

Sabrix Application Suite integration for Oracle E-Business Suite 12.1 is available now.  Pricing is on a subscription basis and is based off a company’s transaction tax complexity.  For more information, visit www.sabrix.com/oracle.

About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle’s partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle’s growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more, visit http://www.oracle.com/partners.

About Oracle Validated Integration

Oracle Validated Integration through the Oracle PartnerNetwork gives customers confidence that integrations between Oracle Applications and complementary partner solutions have been validated and the products work together as designed. This can help reduce risk, improve system implementation cycles, and provide for smoother upgrades and simpler maintenance. Oracle Validated Integration applies a rigorous technical process to review the integrations of third-party software to Oracle Applications products, including productized repeatable integrations from system integrators. Oracle provides access to Oracle Applications software, tools, technical resources and training to assist partners in developing integrations based on Oracle standards and best practices. Partners who have successfully validated their integrations are authorized to use the “Oracle Validated Integration” logo. For more information, please visit Oracle.com at http://www.oracle.com/us/partnerships/solutions/index.html.

New York, August 4, 2010 – The Tax & Accounting business of Thomson Reuters today announced findings from a recent Sabrix survey on the impact a value added tax (VAT) would have on American businesses. The majority of executives polled are against VAT and agree that it would significantly increase the cost of compliance.

The survey conducted in June and July of 2010 polled 80 tax executives within various business sectors. Their responses indicate the following:

• 83.5 percent believe that a VAT would significantly increase the cost of compliance
• 76.3 percent are against a VAT policy in the United States
• 67.1 percent of businesses currently do not have any infrastructure (technology, people or processes) in place to comply with VAT in the United States
• 16.5 percent currently have in-house expertise to comply with VAT in the United States
• 82.1 percent of businesses need six months to two plus years to prepare for VAT in the United States
• 51.3 percent believe the streamlined sales tax (SST) initiative has a better chance of success than VAT in the United States

VAT is a tax on the estimated market value added to a product or material at each stage of the manufacturing or distribution process, which is ultimately passed on to the consumer. Like a sales tax, businesses will be burdened with collecting the tax on behalf of the government.

“For affected businesses, achieving compliance with a new VAT would require considerable time, money and effort,” said Carla Yrjanson, vice president of Tax Research and Content for Indirect Tax, Thomson Reuters. “For example, in 2008 a simple VAT rate reduction in the United Kingdom (U.K.) was estimated to cost businesses $465 million over two years. Now multiply that amount by initial infrastructure costs as well as an overall economy that is roughly six times that of the U.K. economy and you can get a sense for just how much it will cost American businesses.”

For more information about Sabrix, Thomson Reuters go to http://www.sabrix.com

New York, July 26, 2010 – The Tax & Accounting business of Thomson Reuters today announced the latest  Sabrix report on changes to state and local sales and use tax codes. There were a total of 131 changes with 91.6 percent of them being increases or new taxes.

The Sabrix report correlates data from the U.S. Census Bureau, “Quarterly Summary of State and Local Government Tax Revenue,” June 29, 2010 revealing that state sales tax revenue increased for the first time in six quarters, growing by 0.3 percent indicating continued reliance on sales and use tax to address government deficits.

Highlights of the Sabrix report include:

• 80 increases, 40 new taxes and 11 decreases.
• 2 state changes, 19 county changes, 83 city changes and 27 transit changes.
• The highest combined sales tax rate (state, county and city) of 11 percent was in Arab, AL and Bellwood, IL (inside districts), followed by St. Louis, MO at 10.491 percent. The average combined rate was 8.3 percent in Q2 2010.
• California had the highest state rate at 7.25 percent, followed by Indiana, Mississippi, New Jersey, Rhode Island, Tennessee and South Carolina at 7 percent compared to the average state sales tax rate of 5.49 percent in Q2 2010. Note that this only represents the state designated portion of the sales tax, not the total combined state, county and city rate.
• Sitka, AK had the highest borough/county rate at 6 percent, followed by Hinsdale, CO; Juneau, AK; Chambers, AL; Tuscaloosa, AL; Iberville Parish, LA; Orleans Parish, LA; St. Bernard Parish, LA; and St Charles, LA at 5 percent compared to the average county sales tax rate of 1.15 percent in Q2 2010. Note that this only represents the borough/county designated portion of the sales tax, not the total combined state, county and city rate.
• Alaska is home to the top ten highest city rates with Wrangell, AK at 7 percent, followed by Bethel, AK; Buckland, AK; Cordova, AK; Dillingham, AK; Hoonah, AK; Kodiak, AK; Kotzebue, AK; Petersburg, AK; and Thorne Bay, AK at 6 percent compared to the average city sales tax of 1.66 percent in Q2 2010. Note that this only represents the city designated portion of the sales tax, not the total combined state, county and city rate.

“Regardless of whether there is a tax increase, decrease or a new tax all together, each change represents a significant operational outlay for businesses that are burdened with implementing those changes in a timely fashion,” said Carla Yrjanson, vice president, Sabrix Tax Services, part of the Tax & Accounting business of Thomson Reuters. “As government continues to rely on sales and use tax to address their budget shortfalls, the cost of compliance will keep rising, particularly for businesses that manage the process in-house.”
To download the full report, go to: http://www.sabrix.com/documents/Q2_2010_Sabrix_Sales_Tax_Report.pdf.

New York, June 22, 2010 – The Tax & Accounting business of Thomson Reuters today announced that it has integrated the latest tax holidays into its Sabrix sales and use tax solutions.

Researched by Thomson Reuters multi-disciplinary professionals in tax law, accounting, and audit, tax breaks will be automatically integrated into the Sabrix product line ensuring that retail clients continue to achieve compliance with confidence.  As other jurisdictions update their respective tax rates, SAS 70 Type II certified tax research proactively identifies legislative changes to ensure Sabrix customers will continue to seamlessly stay compliant without the hassle of researching and manually keying in the new tax breaks.

“For affected retailers, achieving compliance with sales holiday tax breaks in-house would require considerable effort,”said Carla Yrjanson, vice president, Sabrix Tax Services, part of the Tax & Accounting business of Thomson Reuters. “However, for those working with a sales and use tax solution provider, the process is quite simple. We are pleased to help our retail clients focus on managing their businesses and maximizing sales, while we manage the cumbersome tax holiday rules.”

The sales tax breaks, including back-to-school holidays, were created to offer consumers and retailers much needed relief in the recovering economy. States differ on the variety of items that are exempt and the threshold amount.  For example, some states exempt all tangible personal property, others in hurricane areas exempt related supplies, and  others clothing, footwear, school supplies and computers. To download a full report of the latest tax breaks, go to: http://www.sabrix.com/resource-center/state-tax-rate-changes/2010-salestax-holidays.

San Ramon, Calif., June 3, 2010 – The Tax & Accounting business of Thomson Reuters has now upgraded its Sabrix Managed Tax Service (MTS) integration for Microsoft Dynamics Great Plains (GP) to include enhanced support for the increasingly complex state and local sales and use tax laws, while improving performance and tax accuracy and mitigating audit risks.

• As the economy recovers, states and local municipalities continue to rely on sales and use tax to generate revenue necessary to balance the budget.  As a result, companies are faced with navigating new or changing complex tax laws.  For example, Ohio recently switched from a destination to an origin state and now bases taxes on a mix of goods and services in a given invoice.
• “What may seem like a simple tax change at the state or local level, can translate to substantial operational efforts for businesses,” said Mark Lawler, vice president of technology of Sabrix, part of the Tax & Accounting business of Thomson Reuters. “Sabrix MTS integrated with Microsoft Dynamics GP provides a flexible, high performance solution able to address even the most complex state and local tax changes now and into the future.”

Going beyond native tax features available in Microsoft Dynamics GP or in third-party tax integrator solutions, Sabrix MTS integrated with Microsoft Dynamics GP supports per document tax calls, and comes with SAS 70 Type II certified tax content, provided by an in-house tax research team. Content is automatically updated, eliminating error-prone manual processes and the need to continuously monitor tax law changes. Additional benefits include: 

• Increased tax accuracy and compliance, including support for origin-based states and complex tax rules such as: max tax jurisdictions; related product/service tax scenarios as required by SST; tax on charges such as freight, insurance, and similar; and taxation on complex product setups like bill of materials
• Simplified tax reconciliation process for business users
• Reduced need for manual adjustments to returns typical with line at a time calculated tax data

Pricing and Availability
Sabrix integration for Microsoft Dynamics GP versions 9 and 10 is available now.  Pricing is on a subscription basis and is based off a company’s transaction tax complexity.  For more information, visit http://www.sabrix.com/managedtaxservice.

San Ramon, CA, May 18, 2010 — The Tax & Accounting business of Thomson Reuters today announced that Sabrix has been awarded a 2010 SAP® Pinnacle Award in the “Software Solution Newcomer of the Year” category. SAP Pinnacle Awards are granted to leading SAP partners that have excelled in enhancing the customer experience, addressing critical issues such as accelerating co-innovation and improving return on investment. Winners were selected based on over 230 nominations in 27 categories received from partners and SAP employees. Sabrix received the award at a special awards ceremony held on the eve of SAPPHIRE® NOW, SAP’s international customer conference being held in Orlando, Fla., through May 19.

“Businesses are increasingly relying on software solutions to help manage the growing complexity of the sales, use and value-add tax process,” said Eric Ruud, senior vice president and general manager of Indirect Tax & Accounting Business of Thomson Reuters. “We are honored to receive a prestigious 2010 SAP Pinnacle Award and look forward to continuing to build, maintain and support global transaction tax solutions closely integrated with SAP applications to serve customers of all sizes.”

In the past two years, Sabrix has gained much momentum as a committed SAP software solution partner through its engagement in the SAP PartnerEdge™ program, participation in the SAP EcoHub solution marketplace, and involvement in driving campaigns with SAP.

“The SAP ecosystem, through our partners and communities, continuously drives growth and success for our joint customers,” said S. Singh Mecker, senior vice president and head, Global Ecosystem and Partner Group, SAP. “Our partners play a vital role in SAP’s innovation efforts and in helping customers meet their most essential business challenges. We applaud Sabrix on its commitment and dedication to the SAP partnership. They have excelled in co-innovating with SAP to deliver unparalleled value and mutual business success to our joint customers.”

San Ramon, CA, May 18, 2010 – The Tax & Accounting business of Thomson Reuters announced today that the latest version of Sabrix Managed Tax Service (MTS), the company’s managed outsourced sales and use tax service, has been selected as a finalist in the American Business Awards’ 2010 Stevie Awards.
Competing in the New Product or Service of the Year Financial Services category, 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, with SAS 70 type II certified processes and tax services from a multidisciplinary team of tax experts.

“We are honored to be selected as a finalist in the American Business Awards for the second year in a row,” said Eric Ruud, SVP and GM of Indirect Taxa Tax & Accounting Business of Thomson Reuters. “Especially in light of government’s growing reliance on sales and use tax to generate revenue in a recovering, but still challenging economy, more and more companies are turning to outsourcing to efficiently meet their legal obligation. Since launching the service three years ago, Sabrix MTS has gained significant market acceptance and is on track for significant growth moving forward.”
The American Business Awards are the nation’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit entries to the ABAs – public and private, for-profit and non-profit, large and small.

More than 2,700 entries from organizations of all sizes and in virtually every industry were submitted for consideration in more than 40 categories, including Most Innovative Company of the Year, Management Team of the Year, Best New Product or Service of the Year, Corporate Social Responsibility Program of the Year, and Corporate Environmental Responsibility Program of the Year.

Members of the Awards’ Board of Distinguished Judges & Advisors and specialized final judging committees will select Stevie Award winners from among Finalists in final judging that will continue through May 28. Finalists were chosen by business professionals nationwide during preliminary judging in April and May.
This year’s Stevie Award winners will be announced during the annual gala on Monday, June 21 at the Marriott Marquis Hotel in New York City. More than six-hundred executives from across the U.S.A. are expected to attend. The event will benefit Oceana (oceana.org), the largest international organization focused on ocean conservation. The ceremonies will be broadcast on radio nationwide by the Business TalkRadio Network.

Details about The American Business Awards and the list of Finalists in all categories are available at www.stevieawards.com/aba.

About The Stevie Awards
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.

San Ramon, CA, May 12, 2010 – The Tax & Accounting business of Thomson Reuters announced today availability of the latest version of the Sabrix Application Suite, the company’s on-premise, global transaction tax solution that seamlessly connects to all financial applications required for the determination, calculation, and recording of transaction taxes.
The latest version responds to market demand for more flexibility to support global businesses including emerging country taxation in Brazil, part of the “BRIC countries,” the world’s fastest growing and potentially largest economies, which include Brazil, Russia, India and China.

Since 2002, Sabrix has invested in helping global companies stay compliant with transaction tax legislation in Brazil offering jurisdiction determination; registration validation; accurate and up-to-date rates, rules, limited logic, and content for product taxability, cross-border, free trade zones on goods and services for Brazilian tax authorities at the country, state, and municipal levels. The latest version of Sabrix Application Suite also includes:

Two new tax types that provide more explicit identification for Not Liable tax results for transactions associated with the EU and other countries where VAT is applicable

“Under its Sabrix brand, Thomson Reuters is committed to providing both the technology and region-specific expertise,  services and content critical to support global taxation that enable global companies to achieve compliance with confidence,” said Mark Lawler, vice president of technology of Sabrix, part of the Tax & Accounting business of Thomson Reuters. “We have a proven history of being first to support emerging country taxation and new global legislation such as VAT 2010, the UK VAT reduction in 2008, the EU VAT Package initiative announced in February 2008 and Ireland’s VAT increase in 2008, which has built the trust of our customer base over the years.”

Sabrix Application Suite customers achieve higher degrees of compliance at a lower total cost by taking a consolidated approach to managing sales, use, VAT, and other transaction tax types, domestically and internationally.  A consolidated approach to tax management also enables lower tax costs and improved cash flow by eliminating penalties, interest and overpayments while expediting revenue collection and VAT recovery.

Pricing and Availability

Sabrix Application Suite version 5.1.3 is available now. Pricing starts at $35,000 and depends on company size and complexity of transaction tax environment.  For more information, visit http://www.sabrix.com/enterprise/.

SAP Pinnacle Awards are granted to leading SAP partners that have excelled in developing their partnership with SAP and their mutual business by providing high-quality products, solutions and services to customers. After carefully reviewing more than 230 nominations, SAP announced finalists in 10 award categories. Sabrix was named in the software category. The winners will be announced during a special awards ceremony to be held on the eve of SAPPHIRE® NOW, SAP’s international customer conference being held in Orlando, Fla., May 16-19.

“With hundreds of global tax changes in Q1 2010 alone, businesses are increasingly relying on software solutions to help manage the growing complexity of the sales, use and value-add tax process,” said  Eric Ruud, vice president of Enterprise Sales and Partners, Sabrix, part of the Tax & Accounting business of Thomson Reuters.  “To that end, we are not only excited to be selected as a finalist for the prestigious 2010 SAP Pinnacle Awards, but also especially honored to be selected as a software solution innovator. This latest nomination recognizes our ongoing commitment to build, maintain and support global transaction tax solutions closely integrated with SAP applications to serve SAP customers of all sizes.”

Sabrix provides best-in-class sales and use tax technology as well as the most extensive integration so customers can cost-effectively consolidate their sales and use tax operations to achieve a higher degree of compliance. In addition, the company offers a managed outsourced solution, Sabrix MTS, which 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.

Further information on the SAP Pinnacle Awards can be found at: http://www.sap.com/ecosystem/partners/recognitionprograms/pinnacle-awards/2010-program.epx.

San Ramon, Calif., April 27, 2010 – The Tax & Accounting business of Thomson Reuters announced today a partial list of new Sabrix Managed Tax Service (MTS) customers. In an increasingly challenging economic landscape, as state and local government leverage sales and use tax to address budget deficits, new clients ranging from start-ups to companies doing hundreds of millions in revenue have opted to outsource their sales and use tax process to Sabrix MTS to achieve compliance with confidence. The news comes at the heels of the release of the Q1 2010 sales and use tax update report (see: Q1_2010_Sabrix_Sales_Tax_Report.pdf), which revealed 292 sales and use tax changes in Q1 2010 alone, underscoring just how difficult compliance has become.

A partial list of new customers includes:

• AccessData Corp.
• Aveksa
• Conergy, Inc.
• KDM Signs, Inc.
• Lionbridge Technologies, Inc.
• Principle-Group USA
• Sekisui Specialty Chemicals America, Llc.
• Vidacare Corp

“Many state and local governments are passing aggressive tax laws and changing rates to help shore up budget deficits, making an already complex sales and use tax process even more cumbersome,” said Pam Kostka, vice president marketing, Sabrix, part of the Tax & Accounting business of Thomson Reuters. “Sabrix MTS offers the ideal solution for companies of all sizes looking to lower the cost of compliance, while limiting audit liabilities.”

Sabrix MTS™ combines an on-demand version of the same trusted tax platform that powers over $1.7 trillion in transaction taxes for companies of all sizes, including many Global 2000 leaders, combined with service from a multidisciplinary team of tax experts and SAS 70 certified processes. 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.

Acting as an extension of a company’s finance department, Sabrix MTS minimizes the hassle, reduces the costs, and limits 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 and remittance and filing, as well as audit research and documentation. Sabrix MTS is available as a subscription service, allowing companies to pay based on their usage.  More customer case studies and other information are available online: http://www.sabrix.com/managedtaxservice.