Entries by Meritsoft

Spain’s Financial Transaction Tax: no time for siesta

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As 2021 unfolds, the topic of tax is set to dominate headlines. Tax to recoup the costs of Covid, tax on large, high profit companies, and new areas of tax to generate revenue and influence changes in society, such as environmental social and governance (ESG). One tax that has gone live without much of a […]

Building trust through compliance after the Cum-ex tax scandal

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IBS Intelligence podcast.  Trading activity and dividend arbitrage schemes are seeing increased scrutiny from authorities following the Cum-ex tax scandal. Sunniva Kolostyak speaks to Daniel Carpenter, Head of Regulation at Meritsoft about what institutions can do to ensure compliance and in turn, build trust.  Listen to the podcast here   First published by IBS Intelligence 10/2/2021  https://ibsintelligence.com  For an overview of our Cum-Ex withholding tax solution click here and, […]

Preparing for the Settlement Discipline Regime – CSDs, T2S and beyond

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The discussion around CSDR implementation has focused largely on how the banks, custodians and asset managers are preparing, but the clock is also ticking for the CSDs as they finalise their plans ahead of implementation a year from now.  Those CSDs using TARGET2-Securities (T2S) to record their positions and settle their participants’ transactions have collectively agreed with the European Central Bank that the platform […]

Financial Transactions Tax—Spain and Beyond

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  Daniel Carpenter explores the complicated nature of FTTs across different regions and the necessity for banks globally to update and industrialize their tax systems to handle the increasing number of in-scope securities across these extraterritorial taxes.  Click here to read the article in full.    First published in Bloomberg Tax & Accounting on 14th December 2020.   Reproduced […]

Abandoned property tax in focus as states seek to top up revenues

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With the dramatic pandemic fall off in fiscal budgets, many American states have been taking a closer look at their abandoned property tax legislation, casting an ever-wider net for dormant accounts, and recognizing these unclaimed assets as revenue. This has resulted in increased scrutiny of financial institutions’ escheatment processes. Some states are using outside firms to locate abandoned property, […]

Banks must prepare for more financial transaction taxes

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With the current global environment paving the way for an ever-greater number of taxes, Daniel Carpenter shares his thoughts on the complexities of managing multiple financial transaction taxes across multiple regions. Click here to read the full article, published in Euromoney, 18th November 2020 To find out how we can help you with your tax management requirements, please get in touch at capitalmarkets@meritsoft.com. 

Closing in on claims – the new imperative

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Claims – a topical issue in recent days in the world of politics! But claims of a different kind are under increased scrutiny in the financial industry right now. The drive for post-trade process efficiency has always been important. In the new age of COVID-19, as financial institutions struggle with increased volumes due to market […]

OTC derivatives market hit by Covid-19 turmoil

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Accurately calculating OTC brokerage fees during times of extreme volatility is challenging.  Any sharp rise in OTC volumes leaves investment banks paying more in brokerage fees. Dealing with multiple brokers, all with different rate card structures, is challenging during normal market conditions. But in the midst of this global pandemic, it must be nigh-on-impossible for any bank to get a […]