PwC Signs Three-Year Contract with Thomson Reuters for Tax Solution

By Michael Foster, Big4.com Blogger

PwC has tapped Thomson Reuters to provide corporate tax technology for its Chinese operations. For three years, PwC will use the wire service’s ONESOURCE Corporate Tax solution for its Chinese operations.

PwC China tax partner Matthew Wong said that Thomson Reuters will allow for a more efficient and lower risk tax compliance solution for PwC and its clients. “With ONESOURCE Corporate Tax China, our Tax Management and Accounting services are taken to another level. Adopting this technology will go a long way in helping PwC drive value for our clients throughout their entire tax and accounting cycle,” said Wong in a statement.

In addition to automating compliance to changes in the Chinese tax law, the solution also offers transparency and auditing functions that ensure greater accuracy.

ONESOURCE is a suite of tax compliance solutions that works across a variety of jurisdictions, and includes solutions to streamline corporate tax, indirect tax, property tax, benefits tax, R&D tax credits, trust tax, estate tax, and other tax forms through a single platform. Thomson Reuters also bolsters its tax solution with a local presence in China, according to Asia Pacific and EMEA Managing Director for Thomson Reuters, Charlotte Rushton. “We strive to exceed the needs of our clients wherever they may be based. Having a local presence and a global offering has enabled us to do just this,” Rushton said in a statement.