As part of the fight against tax evasion, as while the USA are implementing FATCA, the OECD and G20 have decided to launch and Automatic Exchange of Information for tax purposes programme, with a common reporting standard. The TAX Reporting solution – software dedicated inter-country tax reporting – enables banks to address these challenges.
- High level of configuration
- Multi-standard: FATCA, CRS/AEOI
- Automated and standardised input
- Secured reporting
- Regulatory compliance guarantee
As part of the fight against tax evasion, as while the USA are implementing FATCA, the OECD and G20 have decided to launch and Automatic Exchange of Information for tax purposes programme. On 21st July 2014, this decision gave rise to the publication of a new global standard for exchange of information between jurisdictions.
AEOI is implemented by financial institutions that identify contract holders whose tax domicile is in another AEOI country and that report tax information on these customers to the tax authority in the country where they are located, in accordance with CRS (Common Reporting Standard).
Sopra Banking Compliance - TAX Reporting, software dedicated to inter-country tax reporting, for both FATCA and CRS, enables institutions to address these challenges.
Tax Reporting manages the entire declaration process for country tax jurisdictions, including IRS, for institutions and groups of all sizes.