Making your tax reporting burden lighter

Making your tax reporting burden lighter

SIX Securities Services introduces Tax Messenger for electronic tax data exchange

Bilateral Final Withholding Taxes agreements between UK, Austria and Switzerland entered into force as of 1 January 2013.

The introduction of the Final Withholding Tax means that paying agents are obliged to pass on legally required information in the case of account transfers. This includes, for example, historical cost prices and historical end-of-year asset values.

To ensure this information is transmitted electronically and securely, SIX Securities Services together with 8 pilot banks has developed Tax Messenger.

As a client of SIX Securities Services, you can immediately benefit from this new platform which ensures that the data transmission between paying agents is encrypted and that contents are neither visible nor archived at SIX Securities Services.

Since its introduction in December 2012, 37 clients have already been set-up for Tax Messenger.

Urs Sauer, Head Project Portfolio: "We are pleased to have implemented this innovative solution for the Swiss financial center in cooperation with eight pilot banks and three software providers. I am convinced it will lighten the burden of mandatory tax reporting for our clients."

If you require any further information or documentation concerning Tax Messenger, please contact: Andreas.Wellauer@six-group.com or your Relationship Manager.