Thomson Reuters

About

Thomson Reuters® ONESOURCE is a centralized, cloud-based platform built to streamline the direct tax lifecycle, with provisioning, compliance, and international reporting applications available within one Direct Tax solution suite.

Core Capabilities and Solutions

• Tax Provisioning & Compliance
Automate global tax provisioning under ASC 740, IFRS, and local GAAP with their Tax Provision solution. Connect directly to ONESOURCE Corporate Tax for seamless return preparation.
• Global Minimum Tax
Manage your Pillar Two reporting process and last mile compliance with Orbitax Global Minimum Tax offered by ONESOURCE.
• Statutory Reporting
Create compliant local financial statements using the Statutory Reporting solution, supporting local GAAP adjustments.
• Transfer Pricing
Cover your master file, local file, and CbCR documentation within ONESOURCE Transfer Pricing.
• DAC6/MDR Compliance
Identify qualifying EU cross-border tax arrangements and automate disclosure with the DAC6 & MDR Reporter.
• Data & Entity Management
Centralize maintenance of tax-critical data including trail balances, deferred tax adjustments, and legal entity structure with ONESOURCE DataFlow.

ONESOURCE stands out for its ability to centralize the full direct tax lifecycle—from provisioning and compliance to international and statutory reporting—within a single, cloud-based, audit-ready platform.

For the tax function, ONESOURCE delivers:

• Greater oversight across global tax provision and compliance workflows, with robust report templates.
• Reduced manual friction though a single data engine for provisioning, return preparation, and disclosures.
• Improved audit readiness, with version rollback, traceable calculations, and historical tax data storage.