Deloitte South Africa has sold its tax software business to Thomson Reuters.
Tax software disposed of in the sale include products such as CorpSmart, ContractorSmart and Vatrax. Deloitte South Africa taxation services leader Nazrien Kader said the sale is in line with Deloitte’s global tax technology strategy “of offering clients world-leading tax technology implementation and advisory services while remaining independent.”
Deloitte partner responsible for the tax technology business Duane Newman said that the firm firmly believes that this sale will have a positive impact on its current clients in the tax technology industry.
Financial terms of the sale were not disclosed. Deloitte said it will work together with Thomson Reuters in rolling out the current suite of products, noting that the two firms already work together on a global scale.
