KPMG has acquired Thomson Reuters’ ONESOURCE
Indirect Tax Managed Services business adding 300 staff to the
firm’s indirect tax compliance division.
KPMG US chairman and chief executive John
Veihmeyer said the acquisition adds the technology, content and
professionals of ONESOURCE to KPMG’s State and Local Tax
practice.
“The acquisition underscores the
benefits of KPMG’s growth strategy, in which the US firm and other
member firms focus on organic and inorganic opportunities to
enhance their ability to serve clients with market-leading
resources,” Veihmeyer said. “This strategy reflects our decision to
invest in the future for our own long term success – and to better
serve the emerging and future needs of our audit, tax and advisory
clients.”
KPMG said the global expansion of business and
a shift to indirect taxation has moved indirect taxes beyond the
traditional US realm of the state sales and use tax model. Indirect
taxation now includes other taxes, such as value added taxes (VAT),
goods and services taxes (GST), excise taxes and transfer
taxes.
“The shift to indirect taxation continues to
change the global tax landscape, making it critical that businesses
operating internationally have greater confidence in how they
comply,” said Niall Campbell, KPMG’s global head of indirect tax
services.
