iPACS Withholding Tax Reclaims for US Investors
Manage risk and minimize exposures with data-focused solutions
The challenge
Withholding tax (WHT) has, for many years, been an area of portfolio taxation that gives rise to several operational tax challenges. Boards and fund managers are becoming all too aware of the drag that such taxes have on investment returns, meaning that in-house tax teams spend an increasing amount of time and resources managing and overseeing the application of these taxes to an ever-diversifying global investment portfolio.
Reliance has historically been placed on custodians to manage and identify WHT leakage. But with increasing complexity in this area of taxation, clients are looking for more efficient (and often technology-led) solutions in order to tackle:
- Opportunities to achieve relief at source being missed through lack of documentation;
- Double tax treaty reclaims not being filed or recovered, through lack of documentation or timely follow-up to tax authority queries; and
- Complex-market and EU-law-based WHT reclaims not being identified.
Deloitte has developed a range of capabilities to deal with each of these areas. Using our proprietary technology and harnessing the power of our global network of WHT specialists, we can efficiently manage the full suite of WHT issues faced by asset managers and servicers.
Features
Large-scale, technology-driven data analysis
Automated data cleansing and enhancements where needed
Multiple asset class coverage
Network of global specialists to provide up-to-date advice
How it works
Bespoke advice and documentation
Deloitte can advise on specific WHT positions, as well as assist with completion of custodian and paying agent documentation to secure relief-at-source and double tax treaty reclaims.
Benchmarking analysis
Deloitte can provide withholding benchmarking analysis based on your raw custodian dividend data, identifying areas to minimize and reclaim WHT.
Real-time technical updates
Supported by our global tax specialists, Deloitte will keep you updated with any changes in tax rates and withholding tax procedures.
Reclaims
Deloitte takes care of the whole refund process from start to finish. All we require from you is the respective fund data and necessary documents from your custodian. All technical, administrative, and procedural work will be outsourced to, and overseen by, Deloitte.
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The services/technologies are representative of services across the global network and not necessarily those of the US member firm.