Our premium tax outsourcing services help forward-thinking asset managers to

  • Safely ride the waves of tax regulations
  • Fulfill all obligations with peace of mind

by leveraging on our expertise and know-how when we take care of your tax obligations. All with zero surprises.

Feeling overwhelmed by the sheer volume of tax obligations?

WHT, FATCA, CRS, and DAC 6. Running a fund that keeps abreast of all these changes can put enormous pressure on compliance officers. Add in VAT and withholding tax reclaim, and the sheer volume of tax-related obligations may feel out of control.

However, there is a different way to meet the challenge of regulation, and the increasing number of tax obligations, while keeping costs low. With our premium tax outsourcing services for asset managers, you can regain peace of mind.

Reimagine your response to tax challenges

Conducting officers often tell us they are dissatisfied with how they deal with non-core requirements. Fund houses struggle to:

  • Keep up with the evolving & global tax environment
  • Source the right expertise on topics that are highly complex
  • Manage large volumes of information
  • Protect yourself from significant fines
  • Miss tax optimization opportunities

Achieve your risk and reporting goals with KPMG Outsourcing

  • Access niche expertise on highly complex topics
  • Reduce complexity right down to a minimum
  • Entrust tax obligations to a trusted and proven partner with a global reach
  • Minimize reputational and fine risk

Forwarding-thinking solutions for your tax challenges

  • Withholding tax reclaim and documentation services

  • Withholding tax HealthCheck

  • VAT compliance

  • Capital gains tax

  • DAC 6 compliance solution

  • US tax obligations

  • FATCA and CRS Compliance

Withholding tax reclaim and documentation services

Investing in a worldwide market?

  • This may result in the application of many different WHT rates, while being confronted with a plethora of different options to potentially reduce such rates.
  • Acting tax compliant while boosting performance may be challenging, especially considering the rapid evolution of national tax legislations worldwide.

With this service, we...

  • help you reclaim withholding taxes (WHT) under different legal bases
  • guarantee worldwide coverage
  • make sure that your funds are always correctly documented to benefit from reduced tax rates
  • connect you to our network of 124 countries, through which we continuously identify new opportunities
  • coordinate and manage the project in a fully integrated manner

Withholding tax HealthCheck

How widespread are your investment?

  • Changing regulations may result in the application of many different WHT rates, which may result in a plethora of different options to potentially reduce such rates
  • The increasing complexity makes it difficult for custodians to ensure the most favorable WHT rate is applied to investment income

With our withholding tax (WHT) HealthCheck, you...

  • will gain complete oversight of your funds’ tax situation
  • will avoid tax leakage and increase your cash flow
  • can protect your management from liabilities towards investors and foreign tax authorities
  • effectively outsource the entire tax recovery process (tax reclaims and relief at source)
  • benefit from our expert team’s monitoring of worldwide tax developments, which keeps our solution always up to date

VAT compliance

Meeting funds' VAT obligations

Your challenge

  • VAT for asset management is getting increasingly complex: court case-law, digitalization of the servicing model, new regulations
  • VAT audits are increasing both in number and severity
  • Consequences associated with non-compliance are significant (fines up to 6 times the amount of unpaid VAT, joint liability with respect to the payment of VAT for directors, etc.)

Your forward-thinking solution

  • Ensuring the regulatory requirements are met in a cost-effective manner (minimize risk and exposure)
  • Relying on a state-of-the-art in-house IT platform supported by modern and agile technology
  • Offering an end-to-end process integration through user interface
  • Live feed

Capital Gains Tax

Are your investments spread over multiple jurisdictions?

If so, you may be affected by...

  • new and upcoming tax regulations that impact certain assets
  • reclassification or adjustment of taxable income or gains
  • inconsistencies in the NAV calculation
  • increased compliance requirements in various countries relating to capital gains taxation

KPMG can help you...

  • assess your funds’ exposure to capital gains taxation on your worldwide investments
  • file local tax returns, comply with relevant local CGT obligations and appoint local tax representatives, where required
  • monitor and determine your funds’ capital gains tax accruals and advanced tax liability
  • ensure equality in treatment of investors, from subscription to redemption

DAC 6 compliance solution

Your challenges

  • Understanding the impact of the DAC6 Directive and the obligations stemming from it
  • Analyzing arrangements to better understand reporting requirements
  • Defining your Internal Governance control
  • Staying on top of your reporting requirements

KPMG supports you in

  • Assessing the impact of DAC 6 on your business activities and/or transactions
  • Identifying gaps in operations, information and reporting
  • Designing and implementing specific policy frameworks
  • Managing your assessment and reporting obligations via a tool-based solution
  • Continuously monitoring all DAC 6 obligations

US Tax Obligations

U.S. tax services adapted to asset manager’s needs

Your challenge

  • Overcoming trouble keeping up with the constant changes to U.S. tax rules and regulations
  • Filling in and filing confusing tax returns
  • Meeting complicated investor reporting obligations
  • Understanding U.S. tax treaties (including Limitation On Benefits provisions)

Your forward-thinking solution

  • Access industry experts who are always up to date on U.S. tax rules and regulations
  • Get assistance filing the relevant federal tax return (i.e. Form 1120-F) and state tax return
  • Investor reporting on schedule K-1 PFIC statements for entities that meet either the income test (75% passive income) or asset test (50% passive assets)
  • make sure that your funds are always correctly documented to benefit from exemptions or reduced tax rates
  • Get clarity on the LOB clause with our in-depth analysis

FATCA and CRS Compliance

Healthcheck and internal audit, entity classification, training, policies and procedures, and reporting

Your challenge

  • Maintaining compliance with due diligence procedures
  • Understanding team roles required to meet compliance with FATCA and CRS
  • Lacking the appropriate policies and procedures
  • Struggling with complex and costly annual reporting

Your forward-thinking solution

  • Guarantee the compliance of your documentation and reporting
  • Get training assistance to ensure your team members understand and fulfill their roles in complying with the FATCA and CRS requirements
  • Receive support in the development of written policies and procedures to facilitate your day-to-day application of FATCA and CRS compliance
  • Benefit from a fully automated, secure and cost-effective reporting solution

Contact us

Olivier Schneider

Partner
KPMG Luxembourg
+352 22 51 51 5504
E-mail

Jean Kizito

Associate Partner
KPMG Luxembourg
+352 22 51 51 5492
E-mail

Quentin Warscotte

Partner
KPMG Luxembourg
+352 22 51 51 5575
E-mail