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 Zytax Determination automates the complex process of identifying and calculating tax liabilities for financial transactions involving motor fuels, petroleum products, power and LNG. Designed for high transaction speed and ease of integration, Determination integrates with any back-office application to seamlessly determine the tax consequences of transactions in real-time, with no manual intervention and nominal impact to transaction performance. The product's flexible scenario-based architecture enables Determination to tackle domestic and international excise, US Sales and Use, EU VAT, Canadian GST/PST/HST/QST, environmental, and other various regional and local taxes. Determination is available in Software as a Service (SaaS) and on-premise versions. It also includes automatic feeds of domestic and international rule and rate changes.
Zytax Determination is an easily deployable product providing advanced capability for a low total cost of ownership. For organizations with business transactions involving petroleum and other energy commodities, Determination enables you to not only save money through tax optimization, but also mitigate risk and decrease cost. For traders, Determination enables organizations to understand the full tax implications of a transaction before committing to it. Zytax Determination's unique scenario-based architecture enables it to analyze transaction information such as origin, destination, transaction type, and product, to identify and calculate relevant taxes for all taxing jurisdictions. A flexible rules engine accounts for the complex exceptions, exemptions and exclusions that are common across all tax jurisdictions.
Key Features:
- Determination of indirect taxes for movement, sale, and acquisition of goods and services
- Front-end transaction validation
- Centralized repository of all tax management data
- Simple, web-based user interface
- Simulated scenario evaluation
- Comprehensive audit tracking for security and controls
- Integrated exemption and exception certificate management
- Integrated reporting, extraction, and data query tools
- Monthly rate and rule updates to ensure compliance with tax authorities
With Zytax Determination, you can:
- Facilitate accurate charging and remission of taxes
- Enable a standard tax platform across an organization's disparate system landscape
- Reduce the risk and cost of tax audits with timely, accurate, and auditable tax calculation
- Decrease transaction risk and cost with real-time visibility into tax implications before commitment
- Automate complex tax scenarios
- Ensure compliance with rapidly changing tax requirements
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Retail
Convenience stores, grocery stores, service stations, and big box retailers are finding fuel a tough business to achieve and maintain healthy margins. It's so difficult that many convenience stores, for instance, where fuel comprises roughly 70% of its total revenue, focus primarily on in-store profit centers abandoning fuel as a profit driver for the business.
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Distribution
Jobbers and carriers strive to provide superior service to their retail customers and minimize costs for improved margin. Manual processes can increase costs unnecessarily and impact supplier and retailer relationships.
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Trading
Energy trades have tax implications. Each jurisdiction is unique in the application, complexity, and financial impact of those taxes. Unfortunately, many trades simply miss the appropriate tax liability.
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Midstream
Refiners, traders, terminals, and other midstream participants face unique challenges in energy taxes. Regulations vary by jurisdiction and change frequently. Midstream taxes, if calculated incorrectly, can result in fines, fees, and penalties.
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Government
Collecting energy-related or indirect taxes is notoriously complex and time consuming. Many agencies rely on manual processes, which hampers throughput, delays revenue collection, and hinders audit support.
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Download Product Data Sheet
FuelQuest Zytax Determination is a flexible, rules-based determination product that identifies tax liabilities for a given transaction and calculates the required indirect taxes. As a transaction-based solution, it determines global taxes across all core business processes.
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