Taxbit Unveils Industry-First Global Reporting Platform, Bridging Digital and Traditional Finance

News provided by

Nov 13, 2024, 08:00 ET

Groundbreaking technology meets deep tax expertise, empowering enterprises with automated, real-time solutions for automated global tax reporting.

NEW YORK, Nov. 13, 2024 /PRNewswire/ -- Taxbit, the global frontrunner in tax compliance and information reporting, today announced the launch of its next-generation global tax reporting platform. Designed by CPAs and tax attorneys, the award-winning platform is built for enterprises managing complex tax reporting for digital products. Specifically, high-volume, high-frequency, and multi-asset transactions – an increasingly essential capability as international regulations reach new heights and demand a streamlined, automated, and scalable software solution.

Powering the reporting needs of Dave.com, Fidelity, and Uphold, Taxbit's platform helps modern enterprises navigate complex global reporting requirements with a single, automated solution. "Taxbit's platform was the easiest integration I've done in my career," said a Senior Developer at Dave.com. With comprehensive functionality that spans growing global tax regimes, the platform ensures precise compliance with rapidly evolving regulations—covering everything from US Information Reporting to Digital Asset Cost Basis, DAC8/CARF, CESOP, and DAC7 in the EU—without costly system overhauls.

Platform Highlights:

Developer-Friendly APIs: Seamlessly integrates with enterprise systems, scaling effortlessly to handle the largest global organizations' needs.
End-to-End Automation: Fully automates ingestion, calculation, and reporting for complex multi-country, multi-asset transactions.
Real-Time Dashboard: Offers intuitive, self-service insights and analytics, allowing companies to monitor compliance status, identify risks, and stay proactive with deadlines.

"The global financial landscape is evolving rapidly, driven by transformative regulations and institutional adoption of both digital and traditional assets," said Lindsey Argalas, CEO of Taxbit. "In order to stay ahead, enterprises need a robust, scalable infrastructure that can meet the industry's overarching demand for transparency and traceability. Taxbit delivers this with a powerful platform that combines top-tier tax expertise with cutting-edge technology, making it indispensable for success in today's complex financial environment."

For more information about Taxbit's modern platform for global information reporting, please visit: https://www.taxbit.com/

About Taxbit:
Taxbit is the premier tax and accounting compliance platform designed by CPAs and tax attorneys to simplify compliance and reporting for digital assets. Enterprises, financial institutions, and government agencies trust our comprehensive, end-to-end solution to compliance and ensure accuracy. Taxbit is certified with SOC 1 Type 1, SOC 2 Type 2 attestation, and ISO 27001 standards. With over $235 million in funding from top global investors like Ribbit, IVP, Paradigm, Haun Ventures, and PayPal Ventures, Taxbit is headquartered in Draper, Utah, and has offices in Salt Lake City, San Francisco, Seattle, New York, and Washington, D.C. Discover more at www.taxbit.com.

For media inquiries, please contact:

Michelle O'Connor
VP Global Brand and Market Expansion
[email protected]

SOURCE Taxbit