First Data Corp.

• Position: TAX SOFTWARE - TaxSolver[R] version 5.1 - Brief article

Taxware, a First Data Corp. company and a provider of global transaction tax calculation and compliance solutions, has released TaxSolver[R] version 5.1, which it calls the first tax reporting software for corporations to feature tax forms on a global basis. TaxSolver 5.1 now incorporates reporting functionality for Value Added Tax (VAT) returns for 10 European countries--Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, Portugal, Spain and the United Kingdom--representing more than 80.1 percent of the $11.7 (USD) trillion European Union (EU) market. Tax forms for the remainder of the 15 EU countries are currently scheduled for delivery by early summer.

TaxSolver will also accommodate both Intrastat and VAT Information Exchange System (VIES) reporting through the Taxware Enterprise integration. Although a free market exists within the European Union, companies must still collect and submit statistics on trade between member states, a process known as Intrastat reporting. These reports are then submitted on a quarterly basis to the VIES, the administrative body that...