Vertex Lease Tax Solution Streamlines Tax Processes for Daimler Financial Services
Vertex Inc., the leading provider of enterprise corporate tax solutions, has announced that Daimler Financial Services selected Vertex® Lease Tax O Series® to alleviate the tax compliance burden around sales, use and value-added tax requirements for vehicle leasing.
“There are tens of thousands of lease-specific tax rules that require constant monitoring,” said Deborah Bright of Daimler Financial Services’ Office of Tax Affairs. “Vertex’s proven ability to deliver a lease tax system that supports these unique requirements, along with its proven skill in supporting an implementation of this size and scope, were the deciding factors.”
Daimler Financial Services will leverage Vertex Lease Tax O Series as a core component of its Global Products, Processes and Systems (GPS) initiative – an enterprise-wide, multi-year project to transform the company’s products, processes and systems. The GPS platform will serve as a common architecture to support the company’s worldwide operations.
Vertex Lease Tax O Series is a comprehensive solution that alleviates the tax compliance burden, while saving considerable time, money and other limited resources. In addition, Vertex Lease Tax O Series provides centralized control and maintenance of leasing and rental taxability rules, and rates to support consistent and accurate lease tax calculation. The solution eliminates the need for manual research, reduces the time and resources spent managing the complex tasks associated with lease tax compliance – leading to greater operational efficiencies and a more productive tax department.
“Vertex is very pleased to extend our partnership with DCFS USA LLC to include the Vertex O Series platform,” said Chris Jones, Director of Sales for Vertex. “DCFS USA LLC recognized that Vertex is the only provider that offers a central indirect tax platform to support the intricacies of lease tax compliance, not only here in North America, but across the globe.”
ABOUT VERTEX INC.
With more than 30 years of experience, Vertex Inc. is the leading provider of enterprise corporate tax solutions and process management services worldwide. Vertex solutions help companies streamline and integrate tax provision and compliance processes, and leverage information to discover new strategic tax savings across every major line of business tax, including income, sales, consumer use, value added, communications, and payroll. To serve its customers, Vertex works in partnership with the world’s leading providers of ERP software and related services.
Founded in 1978, Vertex is a privately held company that employs more than 600 professionals at its headquarters in the U.S. (Berwyn, PA) and its offices in Europe (London), Atlanta, Chicago, Dallas, Phoenix, San Francisco, Sarasota, and Washington, DC. For more information about Vertex, visit www.vertexinc.com.
About Daimler Financial Services (DCFS USA LLC)
Daimler Financial Services (DCFS USA LLC), headquartered in Farmington Hills, Mich., with Business Center operations in Fort Worth, Texas, provides brand-specific financing for Mercedes-Benz automotive dealers’ inventories and their retail customers, and conducts business in the United States luxury car market as Mercedes-Benz Financial. In the U.S. trucking industry, Daimler Financial Services conducts business as Daimler Truck Financial and finances Daimler commercial vehicles branded Freightliner, Western Star and Thomas Built Buses for dealers and their customers in the fleet, vocational, municipal and owner/operator segments. Daimler Financial Services serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,600 employees. Daimler Financial Services Americas is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which operates in 40 countries with an employee base of close to 6,800. Daimler Financial Services Group is one of the leading financial services organizations worldwide. For more information visit www.daimler-financialservices.com/na