| 16 April 2014Wilmington, MA.: axware, a global provider of sales, use and value added tax (VAT) compliance software and services, has announced its acquisition of VAT Resource. Based in The Netherlands, VAT Resource is an independent VAT technology, consulting, and compliance outsourcing company. The acquisition enhances Taxware’s already robust VAT content for tax determination, adds global VAT capability to the company’s compliance software and outsourcing services, and expands Taxware’s European operations. “Reducing risk and improving management and control in an increasingly complex VAT regulatory environment is absolutely critical to businesses trading internationally,” said Andy Hovancik, CEO of Taxware. “By adding the products and specialized expertise of VAT Resource to our solution, we will strengthen Taxware’s international capabilities, reinforce our end-to-end tax determination and compliance solution, and better serve our global clients.”
“The combination of Taxware and VAT Resource products, services and expertise in the sales, use and value added tax field is extremely relevant to international companies,” said Mike Reigle, Partner with Taxaccord. “Taxware is now ideally positioned as a long-term partner for those companies facing complex regulatory compliance issues and operating across borders.”
Since its founding in 2005, VAT Resource has utilized experienced VAT specialists with extensive backgrounds in Big 4 consultancy and corporate VAT management departments. VAT Resource combines its comprehensive knowledge of international VAT rules with an in-depth understanding of business processes, requirements and challenges to provide multinational clients with tailored VAT optimization, compliance and technology solutions.
“Our offerings make it possible for companies to reduce the risk of non-compliance, optimize VAT management and control, and streamline VAT operations,” said Casper Winkelman, Managing Partner at VAT Resource. “Our unique capabilities, coupled with the best-in-class content and tax determination capabilities provided by Taxware, will allow our global clients to simplify and improve VAT management and gain unprecedented control of this vital tax function.”
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