And this is how the collaboration between BIL and AlphaTax began:
With the introduction of CRS, the need for specific tax reporting grew, particularly among the bank's German private customers, so the bank looked for a quick and simple solution. This is where AlphaTax came into play.
The Challenge
After a few, efficient meetings with the bank's decision-makers and specialist departments, as well as the team of experts from AlphaTax, tax reporting for the German tax jurisdiction was created within a very short time based on the bank's anonymized raw data. The IT specialists at AlphaTax created the interface tailored to the BIL data extract.
AlphaTax offers country-specific reporting according to the applicable tax rules, including for Germany back to the year 2000. The challenge in this project was primarily the processing of very large amounts of data on the one hand and the implementation of the complex tax rules for the respective tax year on the other. To accomplish the second point, AlphaTax works closely with large, renowned tax consulting and auditing companies.
Due to the consistently positive feedback from customers, customer advisors and those responsible at the bank, many more country-specific modules were implemented for BIL over time; including the Nordic countries, Luxembourg, Belgium, France, Spain and many more. A highly automated processing process has been set up, which makes it possible to process very large amounts of data at short notice with almost no maintenance
Generate tax reports.
AlphaTax is available at any time for the development of new country modules and questions. For AlphaTax, short-term telcos or meetings are a matter of course and possible at any time.
