Vertex Indirect Tax for Leasing

Manage the complex taxation on lease and rental transactions with confidence. Leverage 150,000+ lease-specific rules to ensure your leases and invoices are accurate and consistent around the world.

Lessors with businesses spanning multiple counties, states, and countries face a labyrinth of complex tax rules and rates. Continual changes to those rates. And business challenges to improve both accuracy and efficiency. A manual approach just can’t keep up.

We developed a solution specifically for the complex tax needs of lessors. To simplify and automate taxation for every transaction regardless of location or lessee. From lease origination to invoicing. Integrated seamlessly with the systems you use to manage your growing business. A solution that provides confidence today and scalability for tomorrow.

  • Comprehensive rules and rates to drive accurate and current leasing/rental.
  • Automatically capture state and local rate changes that affect lease, conditional sales, and rental agreements.
  • Stay abreast of special rules—including lease tax basis, exemptions, non-standard rates, tiered taxes, and percent basis.
  • Maintain data and reports to support prompt, accurate returns, and solid audit defense.

Benefits

  • Confidently manage taxation from lease origination to invoicing
    • Improved quoting accuracy with automated tax calculations at lease origination.
    • Calculate tax by “upfront on cost,” “upfront on the sum of payments,” or “on stream payments”.
    • Improve invoicing accuracy and consistency with automated taxation of periodic recurring invoices.
    • Easily handle exemptions, chargebacks and customer changes.
    • Confidently manage the taxation of lease-to-purchase, basis adjustments for trade‐ins, purchase option credits and finance charges.
  • Continually updated tax rules and rates to improve accuracy and consistency
    • Support for 150,000+ lease-specific rules, sales tax calculation logic for short-term and long-term vehicle leases or rentals, and support for returning to the calling program of taxes, fees, and surcharges for lease or rental transactions.
    • Taxability rules, tax basis rules, tax rates, exemptions, non‐standard rates, tiered taxes, percent basis, fees and surcharges for every location where your company conducts business.
    • Rules and rates that distinguish true or operating leases, conditional sales or finance leases, and “rental versus lease” agreements.
    • Content for North America, EMEA, Asia Pac, Central & South America.
  • Improve compliance efficiency and decrease audit penalties
    • Streamlined automated compliance for every jurisdiction.
    • Automated exemption certificate management including online customer certificate portal.
    • Centralized tax results for the global enterprise.
    • Standard reporting (without IT assistance) at detail and summary levels—plus flexible data analysis tools for ad hoc reporting.
    • Activity and security logs, SAS-70 certified data.
    • Transaction-level data visibility in real time.
    • Improved audit performance to decrease cash reserves.
    • Tax-user control of data – line-item-detail and rolled‐up summaries.
  • Flexibility and scalability to absorb acquisitions with confidence, and grow your business
    • Open, flexible infrastructure that uses web services to harmonize with multiple platforms, databases, ERP, and leasing systems.
    • Interfaces with your company's financial system to automatically calculate taxes on the transactions processed by the system – consistently and accurately.
    • Cloud and on-premise solutions to meet your IT approach.
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