The key to a successful implementation and operation of a Core Banking System is the in-depth knowledge and comprehensive understanding of your requirements: The functionally rich and modern OBS Online Banking System paired with our highly skilled and experienced project teams, which all possess fundamental banking and business knowledge, form a solid basis of your success.
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OBS-TAX Taxes


The OBS-TAX module works as an independent module within OBS and manages all tax processing. Moreover, its design as a complete stand-alone tax engine enables it to easily integrate into your existing banking systems, having all required tax knowledge and process in one single place.

The generic part of OBS-TAX is parameter driven and defines the tax types to be applied accordingly. The tax rates to be applied and the tax amounts are automatically calculated.

German Taxes


OBS-TAX currently provides the following functionality:

  • The management of "Freistellungsaufträge" (exemption orders for capital gains tax), "Töpfe und Merkposten" (share interest pot and the pro memoria tax booking entries) for the capital gains tax
  • Management of "NV-Bescheinigung" (non-assessment certificate)
  • Differentiate the taxation by private and business assets, banks, foreigners and corporations
  • Correct handling of taxes on corporate actions
  • The determination of all required components, especially for funds, from the security master data file (e.g. WM)
  • Real time calculation and taxation of capital gains
  • Subsequent tax optimization and withholding
  • Interface to "Taxbox" from Clearstream
  • Automated KEST notification (withholding tax on capital gains) and FSADV reporting
  • Calculation of VAT, especially on the transaction fees in the area of wealth management
  • Creation of the individual tax statement, annual tax statement and the declaration of profits statement

European Savings Tax Directive


OBS-TAX currently provides the following functionality:
  • Calculation of the EU interest for Switzerland, Austria, Luxembourg and Belgium
  • Information exchange for Germany (ZIV), Luxembourg, Switzerland, Belgium and Netherlands

US Withholding Tax, FATCA, QI and OECD Reporting


OBS-TAX currently provides the following functionality:

  • Double taxation agreement amount calculation for all countries
  • Withholding tax calculation for non-declaration clients
  • Preparation of data for IRS QI Reporting
  • Electronic reporting to the US tax authorities
  • Analysis of client information in order to determine the clients status with respect to FATCA

Swiss Taxes


OBS-TAX currently provides the following functionality:

  • Withholding tax
  • Stamp duty
  • Swiss tax declaration
  • European Savings Tax Directive
  • Withholding tax according to double taxation agreements
  • Final Withholding tax calculation according to the tax treaties between Switzerland and UK and Austria

Luxembourg Taxes


OBS-TAX currently provides the following functionality:

  • Taxes on interest gains
  • European Savings Tax Directive
  • Creation of the tax declaration for the client
  • Offshore-tax reporting for Germany and the Netherlands

Austrian Taxes


OBS-TAX currently provides the following functionality:

  • Calculation of income part for capitalizing unit trusts and certificates
  • Special treatment for step up bonds and construction bonds ("Wohnungsbauanleihen")
  • Split of holdings into lots for old/new KEST regime
  • Calculation of capital gains based on average cost method
  • Calculation of KEST
  • European Savings Tax Directive

UK Taxes


OBS-TAX currently provides the following functionality:

  • Calculation of Stamp Duty und PTML
  • Calculation of Gross Up und Equalisation
  • Tax Voucher/Subsidiary Tax Voucher
  • Management of Tax Lots
  • Calculation of Capital Gains
  • Calculation of pro memoria loss accounts for tax treaty with Switzerland

Belgian Taxes


OBS-TAX currently provides the following functionality:

  • Stock Exchange Turnover Tax (based on security type)
  • Taxes on Securities and cash gains
  • Tax calculation on fund redemptions
  • Tax calculation on the difference between issue and maturity prices

Dutch Taxes


OBS-TAX currently provides the following functionality:

  • Government Tax reporting
  • Client confirmation of reported tax values (similar to declaration of profits statement)
  • Double taxation agreement with Switzerland