Thomson Reuters Announces Global Expansion for Tax & Accounting Business

By Thomson Reuters, PRNE
Tuesday, July 6, 2010

Global Tax Workstation Set to Launch in Fourth Quarter

NEW YORK, July 7, 2010 - The Tax & Accounting business of Thomson Reuters announced today a series
of strategies designed to accelerate its global expansion by offering
multinational corporations (MNCs) and the global accounting firms that serve
them the most comprehensive and integrated solutions for their tax,
accounting and financial reporting compliance lifecycle needs.

"Over the past few years, a converging series of large global trends have
made tax and regulatory compliance for MNCs more complex, more difficult and
increasingly more expensive," said Roy M. Martin, Jr., president and CEO of
Tax & Accounting. "The problem has been that technology has not kept up with
MNCs evolving needs. There has been surprisingly few Web-based software tools
specifically created to help these customers manage their worldwide tax
compliance needs and ensure they are paying the correct taxes. Our new suite
of Web-based products and services solves this problem and, in the process,
assists taxing authorities by ensuring they receive proper filings and remits
from the corporations operating within their respective local jurisdiction."

Key to the company's strategy is its Web-based ONESOURCE global tax
workstation, which will be launched in the fourth quarter of 2010. Building
off the existing successful ONESOURCE platform for U.S. corporate tax
departments and large accounting firms, which currently has more than 37,000
worldwide users, the new ONESOURCE product line will automate and integrate a
series of global tax compliance workflows with local tax compliance tools in
countries around the world, thus providing MNCs and their advisors a
"one-stop" workflow solution. The ONESOURCE global tax workstation will
integrate all of a company's tax planning, transfer pricing, provisions,
indirect tax (VAT) and local tax compliance software solutions into one
platform, all powered by the ONESOURCE Workflow Manager

"For the first time, an MNC corporate tax group and its tax departments
around the world can be fully integrated and seamlessly linked using the
Internet, allowing for far greater control over tax compliance," said Mr.
Martin. "The ONESOURCE solution from Thomson Reuters will make tax compliance
easier, enhance overall accuracy and help companies comply in less time and
with less staff than other technology alternatives."

In tandem, the Tax & Accounting business of Thomson Reuters will launch a
series of additional new products in 2010 and 2011, which will integrate with
the ONESOURCE global tax workstation, including Checkpoint World and
Checkpoint Learning ( These
web-based research and certification platforms are designed to serve the
global market. The company will also release API (application programming
interface) kits for third party developers early next year, allowing other
software providers to integrate their products directly with Thomson Reuters'
platforms and data-sets. Later this year, the company will also announce
enhancements to its Paisley GRC
(governance, risk and compliance) platform. A leader in the global GRC
market, Web-based Paisley technology currently has over 150,000 end-users
around the world.

"All of our solutions are Web-based and can be accessed by any Internet
user, anywhere in the world. By opening up our technology to other developers
who specialize in tax and compliance tools, we can increase the value of our
platform to our customers," said Mr. Martin. "And with our data centers
housed in strategic locations around the world, Tax & Accounting is able to
provide worldwide technology support to its customers and developer

As part of its strategy, the Tax & Accounting business has now been
reorganized into two new global businesses. Workflow & Services Solutions
(W&SS), led by Brian Peccarelli, provides tax compliance, accounting and
practice management solutions to corporate tax departments and accounting
firms. Business Compliance & Knowledge Solutions (BC&KS), led by Mark
, offers research, guidance, online media, certification and
financial compliance solutions.

Starting in the second half of 2010, these businesses will be expanding
their international sales, technical support and implementation staff in
order to serve customers locally in major world markets, with a new office in
Singapore opening on September 1, 2010. The company presently has more than
750,000 end users in 104 countries.

"The new world of tax and financial compliance in the 21st century is
increasingly global," said Mr. Martin. "Our goal is to support and anticipate
the changing needs of our customers by providing a seamless layer of
Web-based applications which both enable and empower accurate regulatory

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information
for businesses and professionals. We combine industry expertise with
innovative technology to deliver critical information to leading decision
makers in the financial, legal, tax and accounting, healthcare and science
and media markets, powered by the world's most trusted news organization.
With headquarters in New York and major operations in London and Eagan,
, Thomson Reuters employs more than 55,000 people and operates in
over 100 countries. For more information, go to

The Tax & Accounting business of Thomson Reuters is the leading provider
of technology and information solutions, as well as integrated tax compliance
software and services to accounting, tax and corporate finance professionals
in accounting firms, corporations, law firms and government. Headquartered in
New York, Tax & Accounting has major operations in Dallas, Ann Arbor
(Michigan), London, Sydney, and Toronto, and offices in nine countries. For
more information, go to

Joe Christinat of Thomson Reuters, +1-212-807-2198, mobile, +1-646-256-4353, joe.christinat at

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