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.
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
Sooraj Shah questions what a change in leadership will mean for the disentanglement of the Aspire contract and for HMRC’s digital strategy
Accounting software could do well to mimic the traits and qualities of the gaming industry
Of the 3.3 million jobs currently classed as business services, 800,000 to one million have a high chance of being automated, Deloitte report finds