Thomson Reuters Corp. (TRI,TRI.TO) said that its Tax & Accounting business recently received a patent from the United States Patent and Trademark Office for creating a system to determine a company's tax provision - a crucial component of a company's financial statement.
The patent covers ONESOURCE Tax Provision, the company's industry-leading tax provision software utilized by multinational organizations, to automate and reduce costs and complexity associated with the preparation and reporting of the tax provision in financial statements.
As a global tax provision platform, ONESOURCE Tax Provision manages and automates the data collection & storage, calculation, and reporting associated with the tax provision for US GAAP and IFRS filers, the company noted.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.