Thomson Reuters has acquired Mastersaf, a provider of tax and accounting solutions for companies operating in Brazil.
Financial terms of the deal were not disclosed.
Mastersaf will complement Thomson Reuters’s global portfolio of legal, tax and accounting products. In Brazil, Mastersaf offers a tax and accounting compliance suite; e-invoicing software that facilitates digital registration and approval of invoices under Brazilian reporting regulations; and LegisCenter, an online information portal for tax rates and rules.
In the past year, Thomson Reuters has expanded in Latin America with the acquisition of Revista dos Tribunais in Brazil; launched the online legal research tool Revista dos Tribunais Online; and has enhanced its La Ley business, an information provider for legal, tax and accounting professionals in Argentina. The acquisition of Mastersaf follows the Brazil launch of Thomson Reuters Eikon, the company’s desktop software for financial market professionals.
“Mastersaf fits nicely into our ONESOURCE global suite of products and positions,” said Brian Peccarelli, president, Tax & Accounting for Thomson Reuters, in a statement. “Thomson Reuters is a unique provider of integrated tax software solutions for corporations operating in major global markets and offers seamless compliance which is more valuable than ever for our customers operating in the global economy.”
Mastersaf’s LegisCenter information sets will be integrated into Revista dos Tribunais and Checkpoint, offering local and global customers more extensive information for Brazil compliance from one trusted source.
Brazil, one of the world’s most complex tax environments, is currently undergoing country-wide adoption of a mandatory digital tax and accounting reporting system, Sistema Publico de Escrituracao Digital. SPED was enacted to reduce paperwork, enforce tax compliance and increase corporate oversight and transparency. Mastersaf helps thousands of customers comply with SPED by providing information and software that allows companies to electronically file tax and accounting records in accordance with Brazilian regulations.
Separately, Thomson Reuters also announced on Tuesday the acquisition of World-Check, a London-based provider of financial crime and corruption prevention information. It will become part of Thomson Reuters' Governance, Risk and Compliance business. Financial terms were not disclosed.
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