For financial institutions operating in the FTT zone that are subject to Financial Transaction Tax when they buy and sell securities, conclude derivatives or materially modify either transaction, Meritsoft’s Financial Transaction Tax Manager minimises processing time thus saving time and money.
Unlike other vendors in the market Financial Transaction Tax Manager is the only solution configured to facilitate proactive tax case management, payment and settlement. This means your tax payments will be accurate and you will not overpay or under recoup.
Reduce time lost to Financial Transaction Tax preparation and the number of manual errors
Automatically identify transactions where FTT is levied. Furthermore ensure you have all the information you need about a position before net settlement of a transaction.
At the same time make sure FTT gets paid to the correct participating Member State.
Ensure accuracy and quality of Financial Transaction Tax reported numbers
Meet audit, client money and regulatory needs. Financial Transaction Tax Manager automates:
- Tax calculation.
- Tax validation.
- Tax static in relation to counterparts (books, exchange rates etc.)
- Client statements.
- Client invoices.
- Financial Transaction Tax declaration formatting.
- Invoice issuance.
Streamline reporting and forecasting
Real-time reporting in the Financial Transaction Tax module brings you:
- Transparency and auditability. The ability to produce detailed reports, statements, invoices and payments.
- Management information: For client servicing and regulatory needs.
Meet audit, compliance and risk requirements
Straight through processing workflow provides a comprehensive audit trail.
- Possess daily accruals.
- Track payables and receivables.
- Track client money.
Address specific operational needs by easily adding on modules:
Manage payments, postings, P&L calculations and SSIs. Modules can be purchased separately or added as your business needs grow.
Get set up quickly
Financial Transaction Manager is a module of Transaction Tax Manager. Like Transaction Tax Manager, Financial Transaction Tax Manager is a ready-made solution, readily available, is adaptable and can be implemented within a month.
This means in no time your processing of Financial Transaction Tax will be automatically captured, so you can concentrate on your core business activities.
Trouble free maintenance
The Financial Tax Manager module utilises existing feeds/data. Furthermore it can be administered and supported by non-IT professionals.
This means you are guaranteed trouble free maintenance and IT resources will not be burdened.
To learn more about our Financial Transaction Tax Manager please Contact Us now.
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