The challenge

Capital gains tax (CGT) in portfolio investments has traditionally been overlooked by many in the investment management industry, since it was typically not significant and any CGT that did arise was dealt with by the fund administrators. However, over a number of years, attitudes of both the taxpayer and tax authority have changeda trend we expect to continue in line with the global trend toward greater regulation and fund transparency.

Governments in investment-class markets are increasingly imposing CGT on gains derived by nonresident investors. This can affect funds anywhere in the world (for example, a US or EMEA fund holding Indian, Pakistan, and/or UK investments). The focus on NAV inaccuracies has also increased, since there is much greater pressure from auditors, regulators and investors to appropriately comply with all local tax requirements

The impact of nonresident CGT creates a number of challenges:

  • Difficulties in calculating NAV and ensuring CGT is appropriately accrued for, and to prevent any pricing errors from arising
  • Tax agency and associated tax compliance, payment, and filing requirements
  • Preparing CGT numbers for statutory financial accounts while ensuring that correct accounting standards are being appropriately applied

To support your existing in-house capability, we have developed iPACS Global CGT as part of the Global iPACS Fund Reporting suite of solutions. Key to this solution, iPACS CGT is a disruptive tax technology, developed by Deloitte for asset managers and asset servicers, to help them manage portfolio-level capital gains tax. It provides a single solution with a global, technology-led offering that heightens efficiency while improving quality.


Increase operational efficiencies

Leverage technology-based outsourcing to allow your team to focus on business-critical agenda items.

Realize more accurate pricing

Precision is delivered through detailed accrual calculations of daily CGT liabilities to ensure correct NAV.

Gain business insight and governance

Stakeholders experience meaningful business insights previously veiled in manual spreadsheets, supported by a more robust governance framework.

Straight-through process

iPACS Global Capital Gains Tax reduces time spent on data transformation by drawing down fund data directly from your administrators.

A single reference point for global CGT regimes

One platform houses all CGT rates, updated in real time, with synergies felt when combined with our global tax agency service.


Robotic data extraction from more than 30 administrators

Daily, weekly, monthly, or yearly calculations possible, depending on local requirements

Automated data cleansing and enhancements where needed

Multiple asset class coverage

Scalable and iterable; can grow and adapt to your business needs

Senior sign-off on your calculations by local Deloitte specialists

How it works

Cgt Overview Sep20

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