Withholding tax reclaims based on double tax treaties | KPMG | LU

Withholding tax reclaims based on double tax treaties

Withholding tax reclaims based on double tax treaties

KPMG and our fully integrated software RaQuest will make your life easier and safer!

KPMG and our fully integrated software RaQuest will make your life easier and safer!

In a nutshell

Unfair exposure to double taxation in the source country and in the residence country is the main reason why developing withholding tax reclaims services have become a necessity for financial institutions. Such services can mean additional value for them and their clients.

The current situation

Today’s financial institutions need to have solutions to upcoming issues with tax reclaims. Furthermore, they have to tailor tax reclaim services to customers with specific needs.

This is a time-consuming process with many operational risk factors. A possible alternative could be to completely outsource the reclaim process and the associated risks to an external consultant.

Most external consultants prepare tax reclaims manually, however, which leads to high costs. Given the increasing demand for withholding tax reclaims and the increasing associated operational risks, manual treatment should become a thing of the past.

How can we help?

Through a strategic and exclusive partnership with Halvotec Information Services GmbH, KPMG Luxembourg is now promoting RaQuest, automatised and unique IT software that enables a safe withholding tax reclaim process based on double tax treaties.

KPMG’s service is a milestone in the reclaim process as full tax claims can now be prepared electronically allowing users to handle a high volume of claims and sensibly limit operational risks. A proven track-record over the last six years is a guarantor for the reliability, completeness and efficiency of the software. Comfort and user-friendliness in its everyday use have become a standard.

We believe that this solution is – with its proven track-record – unique on the Luxembourg market, and may offer financial institutions an excellent way to approach their clients on a broader scale.

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