KPMG AEOI Reporting is a global reporting solution for FATCA, CDOT and the OECD.
Reporting information on Financial Accounts to local tax authorities under Automatic Exchange of Information (AEOI) requirements can be challenging without a reliable technology solution. Countries impose different reporting deadlines, require different file formats or data points, demand different submission methods and often do not operate test facilities. KPMG AEOI Reporting is a solution designed to convert system data into the relevant reporting schema in all of the jurisdictions you operate.
KPMG offer two solutions to help clients.
KPMG AEOI Reporting is simple to use. The technology:
The tool is designed to simplify the reporting process as it:
KPMG can offer clients the ability to run data through the proprietary rules engine on a regular basis without creating a submission file. This approach allows firms to proactively resolve data issues prior to a submission deadline. It enables firms to create a data lifecycle management process enabling data issues to be resolved throughout the year.
Proactively completing data health checks prevents data integrity issues being stored up and only being resolved at year end. Using the data health check module can speed up the final report generation process.
KPMG can help clients who have developed their own in-house reporting solution validate the output to help ensure it meets the tax authority requirements. Our software can allow clients to run their XML extract files against the KPMG proprietary rule-set to highlight any areas of non-compliance. This tool can significantly reduce the amount of time business and systems analysts within a firm need to spend to ensure their internally developed reporting solution remains “compliant” and up to date.
© 2017 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.