Sabrix Further Expands Leading International VAT Software Offering
San Ramon - CA, October 15, 2003 — Sabrix, Inc., the leading provider of U.S. and International tax applications and global tax research, today announced the newest release of The Sabrix Application Suite. This release includes enhanced international capabilities, coverage for four additional International countries, and U.S. product taxability, which clearly positions Sabrix as the leading provider of global transaction tax software and global tax research.
The Sabrix Application Suite's extensive VAT Manager capabilities have been expanded to include additional EU capabilities such as the self movement of goods in and out of the EU and the sale of goods between members of registered groups. Capabilities for non-EU countries were expanded to address the taxation of unusual service types, based on customer location and seller location, that apply to many Latin American and Asian countries.
The Sabrix VAT Manager provides the only international product taxability file available in the marketplace, including special product taxability rules, rules for imports vs. domestic supply, special taxable basis percentages, and effective dates for changes. The Sabrix VAT Manager also handles complex cross-border calculations, distance sales rules, triangulation, special EU sixth directive and EU country-specific laws, and generates all required accounting entries for cross border transactions.
"When you combine our new capabilities with our already extensive international VAT offering, Sabrix clearly exceeds any other VAT solution now in the marketplace or scheduled for the future," says David McRaven, Sabrix Director of Global Tax Research. "Our VAT offering covers 89 countries, including even the most complex countries, Canada, Brazil and India. Additionally, we offer the Sabrix Sales and Use Tax Manager which covers over 7700 jurisdictions in the United States and Canada."
In addition to the enhanced International capabilities, Sabrix now provides CCH U.S. Product Taxability data as part of the Sabrix Tax Research offering for the U.S. and Canada. Customers can utilize CCH's product taxability rates and rules and, also easily configure their own, product taxability rates and rules as needed on an exception basis.
About Sabrix
Sabrix, Inc. is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees. The Sabrix Application Suite serves global enterprises such as Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman’s Warehouse, and York International. The Sabrix Application Suite seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. The company also offers the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service that helps finance departments of small-and-medium-sized businesses eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company’s existing accounting and e-commerce systems, and, similar to outsourced payroll services, operates as a trusted extension of a company’s finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit www.sabrix.com.
For press inquiries:
Kurt Foeller
Foeller Communications
sabrix@foellercom.com