Please refer to the following AEOI technology tool slip sheets to learn more about how KPMG’s tax reporting services and technology enabled solutions can help your business navigate the key challenges of AEOI.
Reporting information on Financial Accounts to local tax authorities under Automatic Exchange of Information (AEOI) requirements can be challenging without a reliable technology solution. Countries impose different reporting deadlines, require different file formats or data points, demand different submission methods and often do not operate test facilities. KPMG AEOI Reporting is a solution designed to convert system data into the relevant reporting schema in all of the jurisdictions you operate. KPMG firms can offer two solutions to help clients.
The tool is designed to simplify the reporting process as it:
KPMG firms can offer clients the ability to run data through the proprietary rules engine on a regular basis without creating a submission file. This approach allows companies to proactively resolve data issues prior to a submission deadline and create a data lifecycle management process enabling data issues to be resolved throughout the year. Proactively completing data health checks prevents data integrity issues being stored up and only being resolved at year end. Using the data health check module can speed up the final report generation process.
KPMG firms can help clients who have developed their own in-house reporting solution validate the output to help ensure it meets the tax authority requirements. Our software can allow clients to run their XML extract files against the KPMG proprietary rule-set to highlight any areas of non-compliance. This tool can significantly reduce the amount of time business and systems analysts within a firm need to spend to ensure their internally developed reporting solution remains ‘compliant’ and up to date.
Global AEOI Leader, KPMG International; Principal and US Operational Leader, Information Reporting & Withholding Tax Services, KPMG in the US
+1 617 512 3398
KPMG in the UK
+44 (0)7500 608 649
KPMG in the US
+1 206 419 0487
KPMG Hong Kong
+852 28 26 8070
KPMG in the UK
+44 7771 624268