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WHERE TAXATION MEETS INNOVATON
Tax Standards for Solution Providers
Presented by: Michael RoytmanEnterprise e-Business [email protected]
January | 30 | 2004
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Vertex’s Mission
To enable the emergence of a global tax
network and improve the performance of tax
administration processes for the benefit of our
customers and worldwide enterprise.
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Vertex Background
Privately held company 700+ employees
Global coverage – Dir. Of Gov’t. Affairs in Washington DC
10,000+ customers
Recognized leader in tax compliance industry by:– Wall Street Journal
– MSI, an Independent Research Firm
Strategic Partner Support Organization
SCP certified support
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Industry LeaderIndustry Leader
The world’s largest financial application software manufacturers and consulting firms use our products
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Vertex Product Solutions
Sales, VAT and Use Tax– Tax Calculation System
– Taxability Mapping Tool
– Exemption Certificate Manager
– Returns Preparation
– Tax Analysis and Planning
Payroll Tax– Quantum for PTAX
– PayrollTax
Income Tax– Vantage Tax
– Fixed Asset Manager
– Federal and State Planning Manager
– Tax Calendar
Telecommunications Tax– CommTax 21
Reference Solutions– Leasing Rates Online
– Sales Tax RateLocator
– VAT Rates Online
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XML at Vertex Today
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Evolution of Tax Information Exchange
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The Ideal World of XML Standards
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Tax Process: Macro View
Tax Compliance Tax Compliance
PreparationPreparation
Tax Law
Tax Reporting & Tax Reporting & FilingFiling
Tax RemittanceTax Remittance
Tax Processing
Legislative Activity
Tax Administration Process
Tax AuditTax Programming & Tax Programming &
CalculationCalculation
Business/Taxpayer DrivenBusiness/Taxpayer Driven
Government/Agency DrivenGovernment/Agency Driven
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Tax Standards Adoption
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Standards Development Process
TODAY(informal description)
ScopeFieldspecs
Formatspecs
Usageguidelines Usage
rules
Example ValidationrulesInformation
flow
TOMORROW(rigorous and formal description)
WHY
Business Analysis
Business Analysis
Requirements Analysis
Requirements Analysis
BUSINESS MODELS
WHAT
Logical Analysis
Logical Analysis
Message Design
Message Design
-SWIFTIdent: BIC
InstructingParty
-SWIFTIdent: BIC
ExecutingParty
-Security: ISIN-Action: {Buy/Sell}
Trade
-TradeDate: Date-PriceCondition: Real-OrderedQty: Real
TradeCondition
OrderToBuyOrSell
TRANS-ACTIONS
COMPONENTS
HOW
Technical Design
Technical Design
Technical Implementation
Technical Implementation
DOCUMENTS
XML CODE
Purchase Order
Sender Recipient________ ________ ________ ________________ ________
Position__ ________ __________ ________ __________ ________ __________ ________ __________ ________ ________
Account Summary________ ______ __________ ______ __________ ______ __
BusinessDocuments
Purchase Order
Sender Recipient________ ________ ________ ________________ ________
Position__ ________ __________ ________ __________ ________ __________ ________ __________ ________ ________
Account Summary________ ______ __________ ______ __________ ______ __
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Standards Interoperability
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XML Hype Cycle
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Questions and Answers
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WHERE TAXATION MEETS INNOVATON
Tax Standards for Solution Providers
Presented by: Michael RoytmanEnterprise e-Business [email protected]
January | 30 | 2004