Fully integrated tax reclaims and relief at source solution

The problem

Billions of dollars is over-withheld by governments every year on cross-border income because investors and their advisers do not provide taxing governments with sufficient information to establish the correct rate of tax.

Until now, there has not been a fully integrated end-to-end solution encompassing all aspects of the operational tax requirement. Any solution must provide reference data management of tax markets and treaties, full document management of Powers of Attorney, Residency Certificates and Beneficial Holding statements, together with tax calculation and form generation. These must be supported with workflow, payment reconciliation and holdings registration management to ensure correct relief at source treatment.

Our Solution

Xceptor® Tax Hub addresses all of these complex requirements. This market leading product is used by major organisations to solve these perennial issues. It integrates seamlessly with the financial institution's existing systems and communication infrastructures.

Market issues

Throughout the international banking community, there are organisations whose business includes reclaiming withholding tax on their own or their clients’ behalf. These companies have an overriding requirement to continually improve their cash collection efficiency, particularly where contractual arrangements are in place.

Impact of our solution on your business

• Reduces the number of days between reclaim submission and cash receipt
• Improves cash collection through a detailed understanding of each tax market
• Provides facilities to substantially reduce manual intervention in the reclaim process
• Eliminates the requirement to store, track and manage paper copies of client and reclaim documentation
• Integrates payment reconciliation to remove manual processes and eliminate errors
• Drives efficiency through integrated workflow

Click here to learn more about the Xceptor® Tax Hub product.