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.
A-Team Insight Blogs
EDI Adds GlobeTax Non-Resident Tax Rates to Reference Data Product
With Brexit behind us and the UK establishing its own regulatory regime having failed to reach equivalence with the EU, financial firms face challenges of double reporting, uncertainty about UK regulation, and a potential exodus of top talent. The data management response is not easy and could stretch some firms to the limit as they...
As the Derivatives Service Bureau’s (DSB’s) first round of industry consultation on fee principles for the Unique Product Identifier (UPI) plays out, we talked to Emma Kalliomaki, managing director of ANNA and the DSB, about some of the issues involved in getting the UPI up, running and ready for its Q3 2022 release. Early conversations...
Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.
Rather than detracting attention away from corporate actions automation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccurate corporate actions data has on their bottom lines as a result of the increased focus on...