ADP Wilco launches Swiss outsourcing service for German tax reporting

ADP Wilco has launched a tax processing and reporting service aimed at banks and securities firms based in Switzerland that have retail clients in Germany.

  0 Be the first to comment

ADP Wilco launches Swiss outsourcing service for German tax reporting

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The outsourced service, which is already available in Germany, complies with Swiss regulations that require originating data to remain in the country.

The new service is hosted at ADP Wilco's Swiss data centre and uses the vendor's Fitas platform which creates income statements that comply with German legal requirements and provides a 'fill-in guide' for KAP/AUS, the enclosure for income from capital assets.

Fitas receives account, trade and position data on an anonymous basis directly from the client's back office systems. The platform provides segregated reporting for income and expenditure originating from interest, fees (custody fees, account commission and debit interest) and securities income including coupons, dividends, accrued interest and trading profits.

Donal O'Brien, co-chief technology office, ADP Brokerage Services Group, says: "This service delivers high levels of STP automation for an area that typically relies on manual processes and spreadsheets."

ADP Wilco's German tax experts update the Fitas platform on an ongoing basis to incorporate law changes.

Sponsored [Webinar] Can You Have It All? Integrating New Channels In A New World Of Payments

Comments: (0)

[New Report] The Future of European Fintech 2025: A Money20/20 Special EditionFinextra Promoted[New Report] The Future of European Fintech 2025: A Money20/20 Special Edition