Automated withholding tax recovery

Protocol is a web based software platform that minimizes the time, effort, and expense required for preparing and filing WHT refund claims, while at the same time increasing the WHT recovery revenue.

Faster claim filing

Checking for claims, and filing claims becomes a matter of minutes instead of days or weeks

Reduce cost per claim

Automation of the entire recovery process makes for reduced cost per claim filing

Higher WHT recovery

Automated claim analysis uncovers previously overlooked claim potential

Secure cloud based access

Protocol is a web based platform, accessible from any place in the world

Improved claim quality

Protocol validates data before importing, your claim accuracy will be best in class

Track claim status in real time

Stay up to date with real-time claims status overview, and stay in control with team task assignment and activity log books


Protocol intuitively guides pension investment managers through automated global WHT recovery. Depending on whether or not investments are pooled, the recovery process comprises three or four steps.

Importing pool participations (optional)

If investments are pooled, pool participation data (excel / csv) is uploaded into Protocol in order to determine each pool participant’s pro rata share in dividends received by the pools.

In the background…

  • Protocol rewrites and verifies the pool data to create a file that is tax compliant and compatible with all dividend data
In depth information

Importing dividend data

Dividend data (excel / csv) is uploaded into Protocol, sorted by claim country and claim year. As not all dividend data sheets are formatted equally, Protocol will match the headers from the dividend data sheet with its own template.

In the background…

  • Protocol learns and stores any manual changes for a next import to speed up the import process
  • Protocol applies and calculates dividend data sheets against pool participations ownership
In depth information

Tax analysis

After every dividend data import, Protocol will determine the highest possible WHT recovery claim in the relevant claim country. In doing so, it will analyze various possible legal bases for a refund of WHT, such as the applicable bilateral tax treaty, the EU treaty, domestic law, etc.

In the background…

  • Protocol will compare the unrecovered WHT in the dividend data sheets against its analysis of the highest possible WHT recovery claim. In this step, Protocol checks what WHT reduction or recovery has already been applied (e.g. by the custodian).
In depth information

Submitting a claim

When a WHT recovery claim is selected from the tax analysis overview, Protocol will guide you through the process of completing the claim to meet the claim country’s procedural requirements and submitting the claim.

In the background…

  • Protocol will generate the requisite claim information and documentation
In depth information

Assurance and compliance features

Protocol’s open software architecture allows you to integrate and reconcile data with your own ERP software

  • Data exports

    Processed data can be extracted by automated exports or by connecting Protocol with your administrative software through API’s.
  • Realtime overview

    Protocol shows a real-time status overview of WHT refund claims, per country per claim year, which can easily be downloaded.
  • Audit proof

    Your WHT reclaim file is always audit proof and audit ready. Protocol’s data analysis reduces the risk of errors and improves the quality of claims.
  • Notifications

    Protocol will issue notifications whenever a WHT recovery claim is set to expire under any given statute of limitations.
  • User management

    Protocol offers multiple user accounts with specific access roles
  • Logbook

    All application and user activities are logged into a logbook, which is available per claim.

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