Ensuring accurate reporting to clients and tax authorities
Due to increasing demand from private clients, the Private Banking industry is delivering tailored tax articulate reports so that they can complete tax returns easily and accurately.
A few years ago, only a handful of clients sought tax assistance, whereas today most of them require it and expect the service from their bank. A growing number of banks are now willing to outsource this non-core but essential service.
PwC Luxembourg and its fully owned subsidiary PwC Tax Information Reporting ("PwC TIR") have launched their new tax reporting service for private clients of local banks. Based on the recent acquisition of one of the leading tax reporting software solution, the service allows banks to outsource the tax reporting of their clients.
A scalable tool for high-quality results
With this service, banks will benefit not only from our tax expertise, but also from our proven track record in providing major international groups with tax reporting services. They will then be able to provide their own clients with a flawless service, limit their risk exposure and focus on their core business.
Data confidentiality and IT security are the cornerstone of our service. Banks can rely on our infrastructure and expertise. The service is delivered from our fully owned subsidiary, PwC TIR, with regulated PFS status of "Client Communication Agent" and "Administrative Agent of the Financial Sector" which enables us to handle nominative client data and deliver the service on the basis of a managed service for our regulated clients in Luxembourg.
Proven tax reporting experience
Since 2010, we've been stepping up our tax reporting service offering. We help our clients define a tax reporting strategy, select appropriate software solutions, as well as implement and test the latter. We then provide an unrivalled tax watch service. Combining this expertise with the use of our new tax reporting software makes us a one-stop shop for banks to outsource their entire foreign private tax reporting operations.
Tel: +352 49 48 48 3118