By introducing Fusion Invest customers to WTax, Finastra will help portfolio and investment managers to deliver net savings for end clients, recovering tax that has been levied on income from securities investments in territories where they are non-resident.
As representatives say, by outsourcing the withholding tax recovery process, asset managers are freed up from the onerous administrative process involved in reclaiming tax across multiple jurisdictions for clients. Since WTax operates on a ‘no win, no fee’ model, it only charges based on successful reclaims.
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