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OBS-TAX taxes

OBS-TAX is an independent product that handles all tax matters within OBS. In addition, this module is also designed in such a way that it can be used as a stand-alone tax engine in conjunction with existing external systems, since all tax-relevant logic is included.

The generic part of OBS-TAX is parameter-controlled and determines the tax types to be applied, determines the corresponding tax rates and calculates the tax amounts from them.

German taxes

The following functions are covered:

+ the administration of exemption orders, non-assessment certificates as well as all pots and pens and noted items for the final withholding tax
+ the distinction in the taxation according to private assets, business assets, corporations, banks, foreigners
+ the interface customer master data (KISTAM) and the determination of church tax
+ the correct tax treatment of corporate actions
+ the special requirements of fund processing, e.g. advance flat rate + real-time determination and taxation of capital gains
+ Subsequent tax optimization and offsetting
+ the connection of the Clearstream Taxbox
+ the KEST registration
+ the reporting of all FSA, NV, free custody account transfers etc.
+ the determination of VAT, in particular also on transaction fees in asset management
+ the preparation of individual tax certificates, annual tax certificates and income statements

US withholding tax, FATCA, QI and OECD reporting

The following functions are covered:

+ Electronic QI message 1042 and 1099
+ Backup-Withholding TAX
+ Determination of circumstantial evidence according to FATCA
+ FATCA message
+ OECD information exchange

withholding tax reclaim

OBS-TAX has a process that accompanies the source recovery process by
+ the determination of the amount of the possible withholding tax reclaim is calculated
+ the request to the responsible tax office (including the country-specific form) is generated.
+ the calculation of the external and internal fees incl. VAT is carried out as follows
+ the booking and confirmation to the customer generated

Swiss taxes

The following functions are covered:

+ Withholding tax
+ Stamp duty
+ Preparation of the Swiss tax statement
+ Withholding tax deduction in accordance with double taxation agreement

Luxembourg taxes

The following functions are covered

+ Tax on interest income
+ Preparation of the corresponding tax statements for the customer
+ Offshore tax reporting for Germany and the Netherlands

Austrian taxes

The following functions are covered

+ Calculation of income share for accumulating securities, funds and certificates
+ Special calculations, e.g. for housing bonds and step-up bonds
+ Separation of stocks into old and new stocks
+ Calculation of disposal gains using the weighted average method
+ Calculation KEST

UK taxes

The following functions are covered

+ Calculation Stamp Duty and PTML
+ Calculation of gross up and equalization
+ Tax Voucher/Subsidiary Tax Voucher
+ Guided tour of tax lots
+ Calculation of capital gains

Belgian taxes

The following functions are covered:

+ Stock exchange turnover tax (based on security type)
+ Taxes on securities & cash Income
+ Calculation on redemptions of funds
+ Calculation on the difference at maturity between issue price and maturity price

Dutch taxes

The following functions are covered

+ Report to the state
+ Proof of the reported values as customer report (similar to income statement)
+ Double taxation agreement with Switzerland