SOFTWARE BUSINESS Thomson Reuters is planning to expand its tax and accounting arm into Europe and Asia, early next year.
The group plans to produce software products for China, Taiwan and South Korea in the first quarter of 2011., reported the Financial Times.
Roy Martin, CEO of tax and accounting at the group, said the growing adoption of international financial reporting standards was having “a cascading effect” on the business.
The company was now on the acquisition trail to expand in Europe, the current stronghold of its rival Wolters Kluwer, he added.
Thomson Reuters will roll out VAT software to 70 countries next year an increase on the 25 it currently offers to.
In the last five years the accounting and tax arm of the business has grown to $1bn (£646m) from $450m, aided by more than 30 acquisitions.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses