TRACK for Funds

Companies are overloaded with data and administrative tasks. Communication with third parties may be burdensome in some aspects:

• Searching old files en masse;

• Avoiding as much as possible sending sensitive data via email;

• Sending the same information to different stakeholders;

• Restricting access to some information without duplication folders and software;

• Losing track of important information being copied in thousands of emails.

Our collaborative application helps you organise file distribution and communication with third parties:

• Email: Shared documentation coupled with a notification system;

• Increase Data Quality: Single storage space, all document versions on one single file. Any document can be blocked or validated;

• Increased Data Security: Fully encrypted, with a restriction system;

• Monitoring & Project Management: Task modules with deadlines, completion of actions and alerts;

• Tailored to your needs;

• Accessible: Single Web access with a computer tablet, smartphone.

Investment fund experts told us they want to...

• Identify and monitor their portfolios’ tax risk exposure;

• Optimise their portfolios’ return on investment;

• Demonstrate their tax diligence and policy vis-à-vis their investors, auditors, tax, authorities, among others.

Our Portfolio Tax Scanner is an easy-to-use solution for everybody, even non-tax experts that:

• Only requires transactions data input;

• Compares the tax rates applied to your fund's portfolio with the ones generally observed in the market;

• Identifies your tax risks and your tax inefficiencies;

• Generates user-friendly reports for your boards, auditors, among others.

Our International Tax View application is a comprehensive database of withholding tax and capital gains tax rates for over 130 jurisdictions. It encompasses:

• Detailed commentary of the domestic tax treatment of income derived from various asset classes;

• Withholding and refund procedures, domestic filing obligations and commentary on the country’s approach to obtaining double tax treaty relief for specific fund vehicles;

• The latest tax updates from the countries most relevant to you.

This application helps you:

• Manage operational tax risks / determine tax exposure;

• Decrease reputational risks possible due to non-compliance (e.g. on self-assessed taxes);

• Reduce likelihood of returns being “left on the table” (ability to check custodian withholding tax rates and determine if refunds may be available); and

• Plan for, and develop, the best investment strategies for your business (e.g., trading a stock vs. investing in a synthetic derivative mirroring the performance of the underlying stock).

In an ever-changing regulatory and tax environment, investment fund experts are overloaded with:

• Crunching and filtering daily flow of news to get the essential information for your business;

• Understanding the potential impacts of legislation updates;

• Having a broad view on these challenges at a pan-European + level.

Our fund tax watch application helps you collect and centralise the news and updates relevant to your business:

• Central point of access for all the fund tax related updates;

• Wide coverage with more than 30 countries for fund tax;

• Noise is filtered; advertisement, spam, outdated/non-relevant information is removed;

• You benefit from direct access to a large network of specialists among the PwC expert network;

• We share relevant information for Distribution and Regulatory updates.

Asset Managers and experts have issues with:

• Collecting information on cross-border arrangements in auditable and structured way;

• Assess whether the transaction is reportable or not under domestic DAC6 rules in various EU territories;

• Report the arrangements to local Tax Authorities respecting their requirements.

Our DAC6 Smart Reporting application helps you to meet the new mandatory disclosure rules:

• Identify, capture and monitor cross-border arrangements;

• Assess cross-border arrangements according to local laws;

• Identify responsible party for reporting;

• Reporting to local Tax Authorities.

The regulatory requirements of the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) compel Reporting Financial Institutions (such as investment funds) in Luxembourg and in many jurisdictions to:

• Identify and monitor the FATCA and CRS status of their investors (“investor due diligence”);
• Report annually to the relevant tax authorities, personal and financial information on the reportable investors.

Our Automatic Exchange of Information (AEoI) reporting tool is a collaborative, web-based application that helps you to:

• Report the correct information in a quick and secure way, while in accordance with the guidelines issued by the tax authorities in Luxembourg or in several foreign jurisdictions (i.e. British Virgin Islands, Cayman, Jersey, Guernsey, France, UK, Dubai, New Zealand…);
• Exchange confidential information with the PwC FATCA and CRS expert team directly through our encrypted secure channel. If requested, we can assist you with ad-hoc questions related to investor due diligence, and the information to include in the report;
• Generate reporting by converting raw data from your IT systems (or the ones of your Transfer Agent) into the required XML format in accordance with regulatory requirements of the relevant tax authorities;
• Ensure reporting format compliance with built-in coherence checking mechanisms of the raw data to be in line with the requirements of the circulars;
• Review draft reports easily with the built-in PDF pro-forma generation functionality. Our experts perform quality checks on the reports generated by the tool;
• File your reports via a direct, secured and encrypted connection to the Luxembourg tax authorities via Fundsquare (one of the two authorised official transmission channels);
• Receive directly into the tool the filing feedback issued by the Luxembourg tax authorities which you may easily download for your internal records;
• Monitor your reporting process with the built-in dashboard overview allowing you to easily keep track of the current filing status of your different funds;
• Keep an audit trail of the reporting process with the built-in tracking functionality showing you who did what and when.