Changing framework conditions are making the tax calculation of special investment funds increasingly complex. KPMG supports fund companies with flexible software for efficient and transparent tax reporting. Based on the accounting data of the entire investment fund, the Financial Services Reporting Engine (FS Reporting Engine) guides the user through the entire tax calculation process and determines a customised report for each investor. The results of the tax calculation are presented transparently and are easy for the fund company to understand.
Present transparently, make it easy to understand
The changes resulting from the Investment Tax Reform Act, which has been in force since 1 January 2018, pose a number of challenges for real estate funds:
- The investor-specific compilation of the taxable income to be allocated requires a corresponding adjustment to the calculation system and the data basis used.
- As the calculation forms the basis for the withholding of capital gains tax and the tax returns to be submitted, there is a risk of interest on arrears in the event of errors.
- Regular reporting for investors ties up capacity.
- Maintaining and ensuring the tax status of specialised investment funds involves a great deal of effort.
- Investors expect faster, more frequent and more detailed reports on key tax figures.
Our range of services with the FS Reporting Engine
We have developed special software to help you overcome these challenges and avoid cost-intensive changes to your accounting system. The Financial Services Reporting Engine creates tax calculations and other key tax figures based on the investment fund's accounting data. The software automatically compiles the taxable income to be allocated for each individual investor. We have placed a particular focus on intuitive and simple handling, which makes it easier to fulfil future tax compliance and reporting requirements.
The FS Reporting Engine is offered as "Software-as-a-Service" and is therefore hosted, maintained and further developed directly by KPMG. Unlike other applications for this area of responsibility, this eliminates the need for lengthy and sometimes expensive migration to your existing IT infrastructure. Access to the software is available to you at all times thanks to the cloud approach.
The FS Reporting Engine was specifically developed to process granular data automatically. The high granularity of the database offers additional options for flexibly expanding the report packages, as numerous reports are based on the information obtained.
Your data is stored internally in accordance with the highest security standards.
Your contacts
Marco Müth
Partner, Financial Services, EMEA & Global Head of Asset Management Tax
KPMG AG Wirtschaftsprüfungsgesellschaft
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