Latest news with #TaxSystems
Yahoo
02-04-2025
- Business
- Yahoo
Tax Systems acquired by Providence Equity Partners
Providence Equity Partners has acquired Tax Systems, a UK-based tax and accounting software provider, from Bowmark Capital. Financial terms of the transaction were not disclosed. Providence, a firm specialising in investments across media, communications, education, and technology sectors, stated that its funding will drive Tax Systems' ongoing platform growth and innovation. The investment aims to enhance tax and regulatory compliance solutions while expanding into both established and new markets. Established in 1991, Tax Systems provides software and solutions designed to digitise tax compliance, allowing tax professionals to automate workflows, improve compliance, reduce risk, and extract valuable insights from their tax operations. According to Providence, the company supports a client base of more than 1,500, including multinational corporations, more than 80% of the leading accounting firms in the UK and Ireland, and around 40% of FTSE 100 companies. Providence senior managing director and co-head of Europe Karim Tabet said: 'We are excited by the opportunity to partner with Tax Systems. Throughout Bowmark's ownership, the company has developed into a specialist leader in regulatory and compliance software. We believe this is a large and fragmented category, with constant changes and strong digitisation trends that provide potential for numerous growth avenues.' Since being acquired by Bowmark in 2019, Tax Systems is said to have doubled both its revenue and profits. The company, which was listed on AIM, has built a cloud-native, multi-tax technology platform and recently introduced Pillar2, an AI-driven SaaS solution designed to navigate the complexities of the OECD's global Pillar Two compliance and reporting requirements. Tax Systems CEO Bruce Martin said: 'We have enjoyed an excellent and rewarding partnership with Bowmark, whose support has been instrumental in strengthening our position in core markets, expanding our product suite, and successfully entering new geographies. 'As we move into our next phase of growth, we are excited to be partnering with Providence, who recognise the strength of our business and the significant opportunities ahead. Their support will help us accelerate our expansion and innovation as we continue building the leading tax compliance software platform in EMEA.' In December 2023, Tax Systems announced the acquisition of TaxModel, a Dutch company specialising in tax technology. "Tax Systems acquired by Providence Equity Partners " was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
06-02-2025
- Business
- Zawya
Tax Systems launches Alphatax in the UAE to streamline corporate tax compliance
LONDON--(BUSINESS WIRE/AETOSWire)-- Tax Systems, the global tax and accounting software provider, has today announced its flagship product Alphatax, the UK and Ireland's number one corporation tax compliance software, is now available for use in the United Arab Emirates (UAE). Alphatax has been meticulously adapted to meet the unique requirements of the UAE's recently introduced corporate tax framework, ensuring businesses can prepare and file their corporate tax returns with accuracy and ease. With exceptional tax pedigree in the UK and Ireland, Alphatax has over 1,300 customers, including around 40% of the UK FTSE 100 and more than 80% of the top advisory firms. It is the most comprehensive corporate tax compliance engine on the market, providing tax professionals with complete control over the preparation and management of end-to-end compliance. This includes key processes, from raw data collection to the completion of the corporation tax computation and e-filing submission. Alphatax has been fully localised to meet the exacting requirements of the UAE's corporate tax laws. It offers robust audit trail and review capabilities, enabling detailed tracking and oversight throughout the compliance process. The software provides standard report templates alongside options for bespoke report configuration, catering to individual business needs through seamlessly integrating and exchanging data. 'Bringing Alphatax to the UAE market is a significant milestone for our team, and we have worked closely with local firms to ensure our software is completely aligned with UAE regulations,' commented Daran Gibney, MD, Tax Systems MENA. 'As a result, companies and firms can approach their corporate tax obligations with full confidence and rely on Alphatax to simplify compliance via a seamless, accurate and efficient solution tailored to their needs. Our customers in the UAE have been using our solutions in the UK and Ireland for decades; so I'm delighted to be able to support them with their software of choice, Alphatax, in the UAE as these new requirements have come into force.' 'This is an exciting time for us here at Tax Systems; launching Alphatax in the UAE is helping us fulfil our ambition to expand beyond our leading position in the UK and Irish markets, by supporting businesses internationally as they navigate increasingly complex tax environments,' said Bruce Martin, CEO at Tax Systems. 'Extending our global footprint into this important region aligns with our vision of becoming a global leader in tax compliance software and reinforces our dedication to delivering innovative solutions that help businesses to thrive wherever they operate.' About Tax Systems Tax Systems, a Bowmark Capital-backed investment, is a global multi-tax compliance SaaS provider with market-leading solutions across the UK, Ireland, Europe, and the UAE. Its solutions digitise tax processes and revolutionise compliance operations, enabling tax professionals to create better opportunities and generate valuable insights from their tax function while also mitigating risk. Translating complex, ever-changing tax legislation into intuitive solutions, customers can trust that their calculations will be right, first-time, every time. Founded in 1991, Tax Systems has over 30 years of experience and works with around 40% of the FTSE 100 and 80% of the top advisory firms in the UK and Ireland, where more than 30,000 tax professionals are trained to use their solutions, filing over 200,000 submissions every year. View source version on *Source: AETOSWire Contacts Media contact: Touchdown PR taxsystems@
Yahoo
06-02-2025
- Business
- Yahoo
Tax Systems Launches Alphatax in the UAE to Streamline Corporate Tax Compliance
Leading Tax Software Provider Expands to Support Businesses Adapting to the Country's New Corporate Tax Regime LONDON, February 06, 2025--(BUSINESS WIRE)--Tax Systems, the global tax and accounting software provider, has today announced its flagship product Alphatax, the UK and Ireland's number one corporation tax compliance software, is now available for use in the United Arab Emirates (UAE). Alphatax has been meticulously adapted to meet the unique requirements of the UAE's recently introduced corporate tax framework, ensuring businesses can prepare and file their corporate tax returns with accuracy and ease. With exceptional tax pedigree in the UK and Ireland, Alphatax has over 1,300 customers, including around 40% of the UK FTSE 100 and more than 80% of the top advisory firms. It is the most comprehensive corporate tax compliance engine on the market, providing tax professionals with complete control over the preparation and management of end-to-end compliance. This includes key processes, from raw data collection to the completion of the corporation tax computation and e-filing submission. Alphatax has been fully localised to meet the exacting requirements of the UAE's corporate tax laws. It offers robust audit trail and review capabilities, enabling detailed tracking and oversight throughout the compliance process. The software provides standard report templates alongside options for bespoke report configuration, catering to individual business needs through seamlessly integrating and exchanging data. "Bringing Alphatax to the UAE market is a significant milestone for our team, and we have worked closely with local firms to ensure our software is completely aligned with UAE regulations," commented Daran Gibney, MD, Tax Systems MENA. "As a result, companies and firms can approach their corporate tax obligations with full confidence and rely on Alphatax to simplify compliance via a seamless, accurate and efficient solution tailored to their needs. Our customers in the UAE have been using our solutions in the UK and Ireland for decades; so I'm delighted to be able to support them with their software of choice, Alphatax, in the UAE as these new requirements have come into force." "This is an exciting time for us here at Tax Systems; launching Alphatax in the UAE is helping us fulfil our ambition to expand beyond our leading position in the UK and Irish markets, by supporting businesses internationally as they navigate increasingly complex tax environments," said Bruce Martin, CEO at Tax Systems. "Extending our global footprint into this important region aligns with our vision of becoming a global leader in tax compliance software and reinforces our dedication to delivering innovative solutions that help businesses to thrive wherever they operate." About Tax Systems Tax Systems, a Bowmark Capital-backed investment, is a global multi-tax compliance SaaS provider with market-leading solutions across the UK, Ireland, Europe, and the UAE. Its solutions digitise tax processes and revolutionise compliance operations, enabling tax professionals to create better opportunities and generate valuable insights from their tax function while also mitigating risk. Translating complex, ever-changing tax legislation into intuitive solutions, customers can trust that their calculations will be right, first-time, every time. Founded in 1991, Tax Systems has over 30 years of experience and works with around 40% of the FTSE 100 and 80% of the top advisory firms in the UK and Ireland, where more than 30,000 tax professionals are trained to use their solutions, filing over 200,000 submissions every year. View source version on Contacts Media contact: Touchdown PRtaxsystems@ +44 (0)1252 717 040 Sign in to access your portfolio
