BearingPoint's tax reporting offering for the Asian-Pacific region is growing further

BearingPoint adds a further keystone to its growing tax solution offering for the Asian-Pacific (APAC) region. A new Australia tax reporting module will be available by mid-2018, in time for the close of the ongoing Australian tax year (1 July 2017 to 30 June 2018), and prior to the filing deadline on 31 October 2018.

The Australia module is based on BearingPoint’s proven and reliable EasyTax software platform, and will include the following features:

  • All relevant fiscal rules relating to investment income are covered for a wide range of financial instruments and transactions. Specific Australian regulations, such as capital gain optimization rules and franking credits, are part of the module’s tax logic.
  • A client report, enabling Australia-resident taxpayers to file their annual tax declarations. Covered by the report are both onshore and offshore-located investment assets. To further facilitate the tax filing process, the client report includes all relevant tax codes found on the official forms.
  • Annual Investment Income Report (AIIR): Australian banks are liable to annually report relevant tax information on their client’s assets to the Australian Taxation Office. This report requires a specific electronic format which is fully covered by EasyTax.

The module can be operated on an existing EasyTax installation with minimal interface adaptions depending on country-specific data requirements. It is constantly kept up to date with the latest regulatory requirements by BearingPoint and its tax advisory partners.

In addition to the new Australia module, BearingPoint’s EasyTax tax solution offering for APAC already includes a module for Indonesia. Further countries shortlisted for development upon request are China, Hong-Kong, India, Japan, Malaysia, Singapore and New Zealand.

With our onshore capable Australia solution, we further underpin our view of the importance of the APAC region in the private & wealth management domain and our commitment in providing high quality tax reporting solutions meeting the requirements of on- as well as offshore banks.

Ronald Frey, Partner at BearingPoint Switzerland

BearingPoint’s EasyTax standard tax reporting solution is built upon a history of more than 15 years of development and support for banks in assisting their clients’ tax filing obligations in more than 20 jurisdictions. The solution produces country specific tax reports and enables financial institutions to provide their clients with a service to ease their tax filing duties. More than 80 financial institutions worldwide already produce tax reports with EasyTax for their clients. EasyTax clients include private & wealth management banks, family offices, retail banks, banking package providers and tax reporting service providers.

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