FATCA compliance solution released 18 May 2015New York Reporter: Stephen Durham
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Comply Exchange and eClerx have partnered to form an end-to-end solution for tax reporting.
The partnership will provide financial entities with a scalable tax reporting solution to support the activities associated with customer segmentation, client outreach, data validation and reporting of tax status.
Alan Paris, principal at eClerx has stated that the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) have “significant implications” for reporting and compliance in the near-term.
Paris added: “Our alliance with Comply Exchange will provide the easiest and most cost-effective way for institutions to process the mountain of paperwork that FATCA/CRS demands.”
David Marley, managing director of Comply Exchange, commented: “Financial institutions are quickly coming to recognise just how onerous this new world of tax has become.”
“The alliance with eClerx will provide the advantages of scale, cost-effectiveness and financial operations specialization for us to support the ever changing demands of tax reform.”
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