Addressing the increasing regulator and investor demands on fund tax reporting is high on C-Suite agendas across the financial investor, investment management and asset servicer sectors. The financial services industry needs to regularly digest and apply frequent changes to international tax regimes to remain compliant and reputable, while many teams are facing reduced headcount, making the situation even more challenging.
In the current state of heightened competition, cost management on business activities is paramount. Transfer taxes such as UK stamp duty, and the French and Italian financial transaction taxes, have historically been considered an unfortunate cost of business on in kind equity movements. However, with a little governance, it is possible to realise tax cost savings with a number of exemptions, reliefs and ruling opportunities.
iPACS Global Transfer Tax provides global transfer tax information and real-time in kind transition tax illustrations based on your raw custodian data. This allows you to benefit from increased cost transparency, an improved approach to compliance, and increased efficiencies on in kind transactions.