Alter Domus has adopted Thomson Reuter’s Foreign Account Tax Compliance Act (FATCA) solution across its services platform to improve client identification and on-boarding to comply with the legislation.
Thomson Reuters’ FATCA solution allows companies to mitigate the risk of non-compliance with US withholding documentation and FATCA self-certification requirements. The solution tackles the three main requirements of FATCA: identity, compliance, and reporting.
Benoit Dewar, head of FATCA services at Alter Domus, said: “We are delighted to be working with Thomson Reuters to provide a FATCA solution that helps our clients through the initial stages of identity and on-boarding, to the concluding compliance and reporting process.”
“Our clients are looking for the trusted partners that can deliver tested solutions that meet their growing regulatory needs. Not only had Thomson Reuters delivered a solution that solves our clients’ needs, we are also proud to have a trusted relationship with [them].”
Laurence Kiddle, managing director of corporate markets (Europe, Middle East, Africa) for the tax and accounting business of Thomson Reuters, said: “Firms like Alter Domus are facing increasing reporting, regulatory and compliance demands.”
“We are pleased to be working closely with [them] to provide a solution that helps them to meet their needs and allows them to grown their business while enhancing their customer experience and enabling clients to meet FATCA requirements.”
FATCA came into effect on July 1 2014 to reduce the levels of tax avoidance by US citizens and entities through foreign financial institutions.
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