Simplifying energy, oil and gas complexity through indirect tax automation.
Automate complex tax calculation and improve compliance for upstream, midstream, and downstream segments in the energy, oil, and natural gas industries. Vertex offers the most flexible tax solution with robust tax determination in both procurement and sales transactions including premium US content to help manage operations across 12,000+ taxing jurisdictions. Whether you're operating upstream in exploration and production, midstream in transportation and storage, or downstream in refining, distribution, or retail, Vertex ensures tax accuracy, compliance, and scalability. Embed latitude/longitude tax jurisdiction assignment to increase tax accuracy for remote locations or locations without a street address.
Leverage Vertex to manage your unique tax challenges including:
Operationalising special tax treatments including tiered rates, volumetric taxes, environmental surcharges, and percent-based levies. This includes converting quantity types (e.g., BTUs, barrels, kilowatt-hours) into standardised units of measure for accurate tax calculation. Applying evolving tax rates, rules, and exemptions impacting energy-specific transactions such as fuel sales, utility services, equipment leasing, and cross-border energy trading or, for example, pipeline extraction, distribution and transport.
Staying in front of frequent changes in tax codes, exempt use cases (e.g., agricultural, manufacturing, resale), and energy-specific surcharges requiring constant monitoring and rapid application to ensure compliance.
Maintaining compliance across a wide range of contract structures common in energy such as true leases, operating leases, conditional sales, finance leases, and rental agreements each with distinct tax implications.
Many energy tax teams still rely on manual processes and complex formulas to manage high volumes of transactions. This makes it difficult to classify products and services (e.g., R&D, capex, opex, field services) correctly for tax purposes, especially when taxability varies by jurisdiction and usage.
Vertex research maintains continually updated sales and use tax content for the unique needs of upstream, midstream and downstream transactions in the U.S. oil & gas industry. This means reduced effort to keep your tax calculations accurate for improved audit performance.
Add on Lat-Long Jurisdiction Identification to your Vertex O Series tax engine to convert lat-long coordinates of oil wells and equipment without a traditional street address to a precise Tax Area ID. More accurate Tax Area ID means more accurate tax calculation regardless of location.
Vertex O Series enables oil & gas customers to automate processes and improve tax accuracy. The tax function will become more agile to support changes in the energy market and entry into new markets/channels while proactively reducing risk and lowering costs.
The O Series tax engine is the foundation of continuous compliance. But don’t stop there. Add on solutions for exemption management, locally compliant invoicing, e-invoicing, VAT ID validation, and returns and reporting to help ensure compliance across the global enterprise.
