TaxTechnology
TaxTechnology

Tax Interchange for Purchasing

DMA understands that corporate tax departments face unique challenges in determining transaction tax self-accruals. There are many variables affecting self-accruals including mergers and acquisitions, disparate systems and technologies, and staffing and process changes. Tax departments strive for accurate self-accruals due to the impact on transaction tax audit results.

DMA’s Tax Interchange for Purchasing is an automated, end-to-end, scalable and centralized tax management and reporting solution that is designed specifically for purchasing transactions. It:

  • Addresses the particular transaction types, tax and technical requirements
  • Allows the tax department to achieve a greater level of compliance with timely and accurate maintenance of tax rules and rates
  • Provides centralized control over the maintenance of rates and rules, reducing the dependency on IT and removing tax decisions from A/P processing clerks
  • Provides better tools for maintenance and proactive, value-added planning
  • Reduces audit exposure by achieving a greater level of end-to-end compliance
  • Achieves a greater level of Sarbanes–Oxley compliance utilizing role-based security and a detailed audit trail

Tax Interchange for Purchasing offers the following benefits:  

  • Automation of self-accruals and review of vendor-charged transaction tax
  • Outsourced tax solution maintenance and configuration
  • Flexible integration with multiple content providers (Taxware, Wolters Kluwer, ONESOURCE Indirect Tax, Vertex)
  • Ability to maintain the solution with custom content or via manual maintenance
  • Ability to consume import files and connection with almost any business or ERP systems
  • Centralized management and control
  • Centralized monitoring and recording
  • Reporting and compliance, with the ease of outsourcing reporting responsibilities to DMA or another provider

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