A private German bank has selected BearingPoint’s EasyTax to produce jurisdiction-specific tax reports.
A private German bank with national and international clients in retail banking as well as in the private banking sector has selected BearingPoint’s proven high grade tax reporting solution EasyTax to produce jurisdiction-specific tax reports for the countries Austria, Belgium, France, Italy, Netherlands, Spain and Switzerland.
The bank is facing the challenge that its clients of various jurisdictions are requesting specific tax reports for their residence. Thus, the need for a high-quality tax reporting for clients in the context of an increasing number of different relevant tax jurisdictions is growing further.
BearingPoint’s long experience in dealing with a sophisticated, multi-jurisdiction client tax reporting supporting more than twenty countries was a key factor for the bank’s decision for EasyTax. The standard tax reporting solution is already offered to and in productive use at various clients like private / wealth management banks, family offices, banking package providers etc. for more than 15 years. Once interfaced with the bank’s core banking system, EasyTax enables the bank to provide their clients with a service to ease their tax filing duties in their homeland.
EasyTax’ country specific tax modules fully cover the respective calculation rules for taxation of income, capital gains and wealth. The tax reports for the first jurisdiction for the tax year 2017 have already been successfully delivered to the relevant clients. For the further modules it is planned to switch them on for production within the next years. , Ultimately allowing the German bank to produce more than 10’000 tax reports for its clients.
In the context of ever-changing regulation requirements, tax reporting is becoming a more complex topic for financial institutions. Clients require a very high quality of tax reporting services from their wealth managers, irrespective of where they placed their assets. With EasyTax, we offer banks a way to provide a first-class, tailored service to their clients, which is a competitive advantage today.
Ronald Frey, Partner at BearingPoint Switzerland.
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.