Innovate Tax shortlisted for prestigious tax technology ITR award

Innovate Tax has been shortlisted by the International Tax Review (ITR) for one of its most distinguished prizes at this month’s ITR Awards.

The tax technology specialist has been confirmed as one of the contenders for the Tax Technology Provider of the Year award following the successful launch of its revolutionary LimeLyte® Entity Manager solution with global corporate travel management provider TripActions.

Taking place annually since 2005, the ITR Awards programme recognises and celebrates the industry’s leading tax businesses and solution providers for innovation, development and remarkable achievements across Europe, the Middle East and Africa over the last 12 months.

Earlier in 2021, TripActions became the first business to implement LimeLyte® Entity Manager; a new flagship tool from Innovate Tax that automates the validation and auditing of VAT Registration Numbers (VRNs), relieving the pressure on tax teams by saving time and increasing accuracy.

It works by checking all tax-related entity data against the European Commission’s VAT Information Exchange System and/or the UK’s HMRCHis Majesty's Revenue and Customs is a non-ministerial department of the UK Government responsible for the collection of taxes. platform before producing a multi-format report that highlights any invalid VRNs or other discrepancies tax professionals may need to act upon.

Andrew Bohnet, Founder and Global Solutions Architect at Innovate Tax, says: “It is a tremendous honour to be shortlisted by ITR, which is widely deemed to be the industry’s gold-standard awards ceremony, attracting the best of the best from the world of tax technology.

“Of course, this shortlisting is a reflection of the incredible efforts of so many people at Innovate Tax to design, develop and bring to market our pioneering LimeLyte® Entity Manager tool; a product we believe will transform the way businesses across the world process VRNs.

“We must also thank TripActions for the confidence and ambition it showed in becoming the first global company to integrate LimeLyte® Entity Manager. The software now allows it to process up to 100,000 VRNs every hour and seamlessly obtain validation for each, while also ensuring a full compliance audit trail.

“In LimeLyte® Entity Manager, we’ve created something that has never been available to tax professionals before and is truly unique. We are delighted and truly humbled that its success with TripActions has been recognised by ITR.”

Following the soft launch of LimeLyte® Entity Manager with TripActions, Innovate Tax is set to officially launch the solution to the wider market in September and anticipates tax teams from all regions and industries to adopt it to eliminate the pain points associated with checking VRNs.

To ensure you are the first to hear about the launch of LimeLyte® Entity Manager, email [email protected].

The ITR Awards Ceremony will take place on Wednesday 9th September. Click here to register your place.