Although an Irish regulated fund is exempt from Irish tax in respect of its investment return, there are a myriad of different Irish and international tax compliance obligations that can apply depending on the jurisdictions of investors, investment strategy of the fund and the ongoing operation of the fund.

Whilst in some cases these obligations relate to mandatory filings which are required by law, in certain cases there may be opportunities for a fund to reclaim tax it has suffered in a particular investment jurisdiction or to adhere to tax reporting requirements to increase its distribution base. Understanding the full range of requirements and opportunities is fundamental to the ongoing operation of the fund.

How KPMG can help

We provide tax compliance services across the full spectrum of the fund life cycle – an overview of the breadth of our services offering is set out below:

Fund level

  • Tax registrations
  • FATCA/CRS assistance
  • VAT compliance
  • Payroll tax compliance
  • Investment Undertaking Tax assistance

Investment level

  • WHT efficiency analysis i.e. reviewing portfolio to identify any reclaim opportunities
  • Assistance with completion of tax documentation
  • WHT reclaims - domestic, treaty and EU claims
  • FIN 48 / IFRIC 23 investment level reviews
Asset management levels

Investor level

Investor tax reporting services in respect of the following regimes:

  • UK reporting fund regime
  • Austrian tax calculations & OeKB reporting
  • Swiss taxable income calculations
  • US investor requirements (PFIC or K1, as applicable)
  • Belgian / Italian / German tax calculations

In addition to the above, we can also provide assistance with German investor regulatory reporting requirements.

What can we do for you?

We understand that asset managers want to spend their time focused on portfolio management, rather than co-ordinating service providers across different requirements. In light of this, we can provide a “one stop shop” managed services approach to any and all tax compliance requirements impacting a fund. Our service delivery is based on four core fundamentals:

We minimise the day-to-day investment manager input required

Our approach is focused on working with the fund administrator for information and other administrative aspects, ensuring input from the manager is only needed where required

We do more than just file returns

We are not just a compliance process agent – we carry out checks / verifications on data received and where we identify possible issues, we will bring these to you for considerations.

We work closely together

Although we have different teams that specialise across the various aspects of compliance, our teams work closely together to ensure seamless delivery of service.

We have broader subject matter experts that will add value

Outside of any ongoing compliance process requirements, we have broader asset management tax specialist who can add value to your business in relation to tax developments, changes to your business, etc.

Get in touch

The Asset Management Tax team is always at hand and welcome the opportunity to discuss your asset management requirements to find the appropriate solution for you.

Contact our team

Gareth Bryan
Gareth Bryan
Partner, Head of Asset Management Tax

Meet Gareth

Philip Murphy
Philip Murphy
Partner, Asset Management Tax

Meet Philip

Ian Lockington
Ian Lockington
Partner, Asset Management Tax, Head of Investor Tax Reporting

Meet Ian

Glenn Reynolds
Glenn Reynolds
Partner, Head of Financial Services VAT

Meet Glenn

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