Tax Services: eTaxData Distribution

eTaxData Distribution - Global Withholding Tax Statutory Rate Reporting

EDI has teamed up with its preferred partner, GlobeTax Services, to provide the first commercially available withholding tax statutory rate data feed service.

Currently custodians and brokers must manually research statutory withholding tax rates from multiple sources in order to accurately calculate dividend distributions to their clients. They also often need these rates to calculate withholding tax reclaims. Fund managers, portfolio planners and trustees are also increasingly required to monitor dividend income and custodial performance. To fulfill these tasks, they need easily accessible and up-to-date tax data.

eTaxData Distribution is a subscription-based electronic data feed of all statutory withholding tax rates applicable to non-resident individuals for over 230 markets, delivered once a month. eTaxData Distribution reports include accompanying notes for each market.

Future upgrades to the data will include fixed income as well as core dividend rates, and rates for corporates and other non-individual entity types.

eTaxData Distribution answers these questions:

As a payer, how much do I deduct from the dividend distribution to remit to a tax authority?

As a custodian, how much do I credit to a client’s account?

As a recipient, is my account statement correct for withholding tax deductions?

This type of data takes dedicated, detailed research and continuous liaison with the world’s tax authorities to keep up to date and valid. Rates can change, as can entitlements. Interpretations and announcements of reclaim entitlements and processes also vary.

Our partner, GlobeTax, files over two million reclaims a year for clients all over the world. The data and analysis tools now available through eTaxData Distribution are the same as the data GlobeTax uses to file reclaims on behalf of its clients. You can now access these data and analysis tools as a monthly electronic data feed.