Exchange Data International has signed up to StatRate, a new product from withholding tax specialist GlobeTax, in order to include non-resident statutory withholding tax rate data in its securities master file product. StatRate is GlobeTax’s second reference data product. EDI is already a user of its first, e-TaxData Online (Reference Data Review, June 2005), and according to GlobeTax it is close to announcing a second client for this more established solution. StatRate comprises an electronic data feed delivered to subscribers once a month. It covers 148 countries, for each providing the statutory rate of withholding tax applied by that country to a non-resident individual. It can be imported directly into a corporate actions platform. Jonathan Bloch, CEO and founder of EDI, says it has signed up for StatRate in response to demand from some existing clients. EDI clients have access to both StatRate and e-TaxData Online, which is valuable, says Bloch, because the latter, a web look-up service, enables users to establish whether the non-resident rate delivered in StatRate is modified by a treaty.
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