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TaxSolver v 5.1.

Taxware, and First Data Corp. have released TaxSolver version 5.1, the first tax reporting software for corporations to feature tax forms on a global basis. Already established as the sales and use tax return system for the United States and Canada, TaxSolver 5.1 now incorporates reporting functionality for Value Added Tax (VAT) returns for 10 EU countries--including Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, Portugal, Spain and the United Kingdom, representing over 80.1 percent of the $11.7 (USD) trillion EU market - with tax forms for the remainder of the 15 EU countries currently scheduled for delivery by early summer.TaxSolver will also accommodate both Intrastat and VIES reporting through the Taxware Enterprise integration. Although a free market exists within the European Union, companies must still collect and submit statistics on trade between member states, a process known as Intrastat reporting. These reports are then submitted on a quarterly basis to the VAT Information Exchange System (VIES), the administrative body that facilitates the exchange of VAT data between all the tax administrations in the European Union. Compatible with leading financial and ERP software systems, TaxSolver processes and converts imported data to generate tax returns automatically. While allowing a corporation's accounting staff to focus on higher-value financial activities rather than completing tax forms, TaxSolver's internal control features also form a critical component of Sarbanes-Oxley Section 404 compliance. Additionally, TaxSolver assigns and tracks payment information, schedules filing frequency and estimated payments, electronic filing, and automatically incorporates updated tax rates and forms each month.

www. taxware. com
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Title Annotation:IT News
Publication:Database and Network Journal
Date:Apr 1, 2006
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