Banking & Capital Markets

ESG issues are becoming increasingly important for banks and their customers when it comes to capital allocation. Asset managers are also faced with the challenge of incorporating ESG considerations into their investment strategy, reporting, quality assurance, risk and due diligence, and taxation.

We support your bank in aligning its business activities with the principles of sustainability and ensuring that your transactions and investments meet high social and environmental standards.

We also help develop ESG structures that support your public net-zero commitments and meet the expectations of regulatory authorities.

In the dynamic regulatory environment of banking, companies must always stay one step ahead of the latest requirements.

Our experts go beyond mere compliance by anticipating future regulatory trends and offering strategic advice on risk minimization and compliance optimization.

Our services include:

• KYC & file remediation, due diligence onboarding procedure, transaction review, sanctions, corporate intelligence, anti-bribery & corruption
• Support with licensing and liquidation, recovery & resolution, digitization, outsourcing, and impact assessments
• Regulatory investigations
• Markets / investor protection / suitability testing
• Governance & internal controls (including regulatory review, deep dive, etc.)

In their search for the next level of profitable growth, banks are confronted with the costs and complexity of cross-border business, a shortage of talent, a lack of major M&A opportunities, and ongoing geopolitical tensions.

Our experts support you in securing your strategic orientation and competitiveness in the long term and offer comprehensive deal advisory services:

• Restructuring
• Mergers and acquisitions

Tax consulting for banks requires not only sound general tax knowledge, but also industry expertise and specialized tax knowledge (e.g., in the areas of transfer pricing, capital gains tax, or sales tax).

We take a comprehensive approach to consulting, work closely with the audit and advisory departments, and draw on the expertise of the international KPMG banking network when necessary.

This enables us to develop tailor-made, sustainable solutions for our clients, create added value, and provide support in complying with complex tax regulations. We have extensive experience in establishing and developing tax control systems for banks.

In addition, we are happy to assist you with compliance in relation to numerous special topics, e.g., account register reports, digital capital gains tax exemption, Common Reporting Standard/CRS, FATCA, QI, DAC 8 crypto reporting, FASTER, or withholding tax refunds.

Benefit from tailored support in the implementation and documentation of tax control systems (TCS) thanks to

• our many years of practical experience in accompanying controls and
• our KPMG Toolbox with samples and templates specifically for banks.

We also review existing systems, identify potential for optimization, and accompany you on the path to sustainable and secure tax compliance.

Tax consulting for management companies of securities funds, alternative investment funds, and real estate funds requires not only general tax knowledge but also in-depth industry knowledge in the area of special credit institutions and a thorough understanding of the regulatory framework governing the industry.

In addition to ongoing consulting, we also provide support in the development of future-oriented solutions and cooperation with custodians (e.g., in the area of transfer pricing and sales tax). We coordinate support with the Law, Audit, and Advisory departments and draw on the expertise of the international KPMG Asset Management Network as needed.

In addition, we support our clients in the structuring of fund vehicles and also offer fund accounting, data preparation for compliance with reporting obligations, and tax reporting as a joint service. This also includes the preparation of tax and corporate law values for investor accounting.

In addition, we provide support on numerous special topics relating to the management company or fund vehicles, e.g., Common Reporting Standard/CRS for special funds, FATCA, QI, DAC 8 crypto reporting, FASTER, or withholding tax refunds for investors or the fund itself.

As tax representatives, we assist foreign funds seeking reporting fund status, from initial OeKB registration through ongoing distribution and annual reports to final liquidation and merger reports.

For investors in non-reporting funds, we prepare self-certifications in accordance with OeKB investigation requirements in order to avoid flat-rate taxation.

Digitized processes enable us to offer customized services not only for large fund platforms, but also for individual funds.

We support you in fulfilling all your domestic and foreign tax reporting obligations, in particular

• QI and FATCA reports to the IRS
• GMSG, account register, or digital exemption declaration reports to the BMF.

From preparing the basic data and creating the reporting files to the technical implementation of the report, we can take care of every step of the process according to your needs (managed services).

We are happy to support you with our expertise in reclaiming Austrian withholding taxes under double taxation agreements and EU law, not only before national authorities and courts but also, if necessary, before the ECJ.