Tax & Accounting reported revenue of $906 million for the most recently ended year, up from $836 million. The other two major units are Legal Professionals and Corporates. Overall, it had the strongest growth of any of the company's units. Tax & Accounting EBITDA grew to $154 million, an increase of 6 percent from $145 million.
Organic revenue for Tax & Accounting increased 9 percent, both for the fourth quarter and for the year. Thomson said this was a stronger than-expected performance stemming from UltraTax, audit applications and “and a strong performance by our Latin American tax business, Dominio, that grew more than 20 percent for the year,” CEO Stephen John Hasker said during the company’s recent earnings webcast.
The company did not mention Onvio, the cloud-based tax and accounting suite that is far behind the original announced plans. Thomson was also thrifty with information. After initially inviting press and industry analysts to its Synergy conference last fall, the company then abruptly said those parties could attend virtually and then did not provide any registratin or log on information.
Onvio was originally announced in the fall of 2015 and Thomson later said the Tax module would be tested on 2020 returns.Thomson’s webpage has information about Onvio Practice Management, which was launched in September 2019 and includes document management and time and billing. But there have been no press releases about Onvio since then, and no press releases about Onvio Tax ever.
