Chennai: Tax compliance automation software provider, Avalara, Inc has announced that it has acquired Indix.
“Global taxing authorities govern compliance through ever-changing rules and requirements, and the task of gathering and maintaining this data is core to the value Avalara provides,” said co-founder and CEO of Avalara, Scott McFarlane.
Avalara believes it will offer the industry’s most accurate, up-to-date, and comprehensive source of global tax and product content when it combines the Indix AI expertise, technology, and content with Avalara’s tax expertise and compliance content, a release said.
Indix’s AI technology and expertise, with comprehensive product descriptions for more than one billion products sold and shipped worldwide.
Avalara intends to use the Indix AI to maintain and expand its already massive tax content database, which includes international product codes and classifications; taxability rules; exemption conditions; tax holidays; jurisdictions; boundaries; tax rates; thresholds and registration, compliance, and return preparation and filing requirements.