Our EasyTax standard software solution enables retail and private banks to calculate withholding taxes and produce fiscal reports for clients.
Given the growing pressure on clients to be tax transparent in their home countries, they are increasingly demanding a fiscal report from their wealth managers. This report allows clients to easily file their tax returns with the relevant information on income from interest and dividends and capital gains on wealth. While the service to produce on–shore reports is already a standard for banks, challenges are still present in producing off-shore reports.
BearingPoint is capable in offering a standard product for those requirements, which is successfully operating in-house and in use via outsourcing for about 12 individual tax jurisdictions.
Many countries, such as Germany, Austria and Belgium, have started to introduce taxation at source (withholding tax). As we have implemented the requirements of the Swiss final withholding tax agreements with United Kingdom and Austria, EasyTax is now also able to calculate tax at source as part of the end-of-day processing for that type of agreements. After the calculation, tax booking records are transmitted to the bank’s core system.
As part of our standard maintenance service, we provide updates in line with changing taxation laws. With several releases during the year, our clients will receive timely updates to ensure continuous alignment with tax calculation rules.
You can find detailed information on www.bearingpointabs.com.
We specialize in helping clients with tax reporting. Our clients include private & wealth management banks, family offices, retail banks, banking package providers and tax reporting service providers.
We offer a range of country specific reporting modules and services focusing on tax law, including:
The EasyTax range currently includes the following modules:
Fiscal reporting modules
Generic reporting module
Withholding tax calculation modules for United Kingdom and Austria
We have forged agreements with the following banking software vendors to offer interested clients a standard interface to EasyTax: Finnova, SunGard, ERI Bancaire, TCS and HP.
Our implementation consultants are also experienced in building interfaces with the various banking systems.
In addition, EasyTax offers a native interface to the following tax data providers: WM Datenservice and SIX.