As banks’ clients have many assets all over the world, their request for tax reports has increased. Clients are looking for highly sophisticated tax reporting from an increasing number of tax jurisdictions, and financial institutions need to meet their clients’ increasing demands. While providing on-shore related tax reports and bookings is a standard service for banks, producing off-shore reports can be a challenge.

EasyTax helps financial institutions in the calculation, the reporting and the booking of taxes for many different jurisdictions. Our standard software enables banks to produce country-specific off-shore tax reports. This enables them to provide their off-shore clients with a service to ease the burden of their tax filing duties and support private clients with their tax statement submissions. With regards to on-shore requirements, EasyTax generates real-time tax calculation results and bookings for more and more countries.

In light of regulations such as the Automatic Exchange of Information (AEoI) based on the OECD’s Common Reporting Standard (CRS) or the Foreign Account Tax Compliance Act (FATCA) and its Intergovernmental Agreements (IGA1 and IGA2), financial institutions are facing the major challenge of having to fulfill the tax authorities’ constantly changing requirements concerning reporting standards. This often requires modifications in electronic data and reports. To address this demanding challenge, we have developed FiTAX, a standard software solution for financial institutions to generate tax reports for tax authorities around the world. The reporting software fulfills the requirements of the CRS, FATCA and the Intergovernmental Agreements (IGA), QI, QDD and DAC6/MDR.