Streamline the calculation, reporting and payment of Financial Transaction Taxes (also known as Tobin Tax) using Syn~FTT, protecting your organisation from complex and ever-changing FTT regimes. Centralise trade data and tax rules for highly-automated and accurate tax assessment, optimisation and declaration across business lines, asset classes and regions.
FTT rules vary across jurisdictions and several more countries are planning their own regimes, adding to the complexity of managing global trading activity.
Syn~FTT allows you to manage all your FTT obligations in a single system. Tax rules and workflows can be configured for each jurisdiction and real-time exchange rates ensure accuracy.
New regions can be quickly added, allowing you to efficiently respond to the changing tax landscape.
With unmatched transparency and straight through processing, Syn~FTT removes the need for high-risk manual processes.
Syn~FTT manages the complete end-to-end process:
The concept of a Financial Transaction Tax (FTT) isn’t new. It was first introduced as a European-led exercise with 10-member states committing. France was the first country to join and since then, other EU markets have introduced the tax following political pressure to ensure the financial sector contributes to budget holes created by the financial crisis, and now the COVID pandemic. GBST spoke to Asset Servicing Times about how non-compliance is simply not an option, and potentially very costly. Read more.
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