Foreign Tax Reporting API – RegTech

February 23, 2017

New RegTech API for Foreign Tax Reporting Introduced by Univeris

On the heels of Foreign Account Tax Compliance Act (FATCA), the Organization for Economic Co-operation and Development (OECD) has developed a Common Reporting Standard (CRS) that calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions. CRS is expected to be implemented in Canada on July 1st 2017.

Foreign Tax Reporting API Features

The Foreign Tax Reporting API permits easy compliance with the CRS framework. Features of the service include, verification of account and contact eligibility, computation of indicia for CRS and FATCA, and integration with the Univeris Platform for full, end-to-end processing of CRS and FATCA rules.

Foreign Tax API Benefits

Dealers and Financial Advisors benefit by enabling a self-sufficient and verifiable CRS algorithm, while IT Operators benefit from the flexibility to distribute the computing of the system to various environments of subscribe to the service.

Univeris Foreign Tax API

To learn more about the Foreign Tax Reporting API, fill out the form below.


 

The post Foreign Tax Reporting API – RegTech appeared first on Univeris API.

 

Previous Article
Concentration Analysis API – RegTech
Concentration Analysis API – RegTech

New RegTech API for concentration and suitability analysis introduced by UNIVERIS The Concentration Analysi...

Next Article
Forex API – WealthTech
Forex API – WealthTech

Univeris Releases Foreign Exchange Rate and Conversion Web API The value of investment in multiple currenci...