Countrywide Selects Global Tax Software

Taxware, a First Data Corp. subsidiary, has been selected to provide global transaction tax calculation and reporting software for Countrywide Financial Corp.

The implementation is scheduled to be completed soon.

Since Countrywide purchases taxable goods and services for more than 100 business units across the United States plus the United Kingdom, Japan and India, Countrywide required a transaction tax calculation system that could keep pace with not only the constantly changing sales and use tax laws in the U.S., but also value-added taxes as well.

Steve Sylvers, managing director of corporate tax at Countrywide, said in a press release that the company needed a transaction tax solution with the ability to interface with multiple procurement and sales platforms, including PeopleSoft Enterprise Payables 8.8.

"Additionally, we wanted an integrated tax return compliance tool with the power to help increase efficiency and the functionality to fit into our control environment."

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