KPMG Switzerland and SIX Securities Services are bundling their tax expertise. These two companies will be offering banks a comprehensive range of services relating to withholding tax exemptions and refunds as well as tax reports for foreign clients, all through a shared interface.
Efforts to improve international tax transparency and the related automatic exchange of information are putting pressure on Swiss banks and their clients. Despite the complex, country-specific tax rules currently in place, these financial institutions have to offer their clients simple solutions. These include meaningful, compliant tax reports as well as efficient ways to file for withholding tax exemptions or reclaim any withholding taxes paid.
KPMG Switzerland and SIX Securities Services are two leading service providers that are now bundling their specific areas of expertise in order to offer competitive solutions in a transparent tax environment. For the very first time in Switzerland and Liechtenstein, private banks will now have the opportunity to access two separate services through one shared interface: tax reclaim and tax reporting. Through this interface, the financial institutions can gain access to the tax expertise of KPMG while simultaneously employing the reliable settlement processes offered by SIX.
"This collaboration between KPMG and SIX Securities Services will allow banks to meet all of their clients’ demands for solutions that are both tax compliant and efficient," explains Peter Uebelhart, Head of Tax and Member of the Executive Committee of KPMG. Michael Ripken, COO of SIX Securities Services, adds: "Since KPMG and SIX Securities provide complementary tax services geared toward the same group of clients, it stands to reason that we should pool our areas of expertise and simplify clients’ access to these services."
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