Managing withholding tax and minimizing drag on a global public equities and fixed income portfolio is complex and resource-intensive. Investors and investment managers are spending a lot of time and resources monitoring and managing withholding tax relief on their global investment portfolio yet struggle to get insight in and control over their global withholding tax position. What’s worse is that they are missing out on millions of withholding tax relief annually.

With our global reach of withholding tax reclaim services and our platform Protocol, investors and investment managers can be confident they are getting the lowest possible withholding tax rates applied to their investment portfolios all the time, while having direct insight in results and managing risks, through clear and easily auditable processes.

about our software - protocol
We assist institutional investors and investment managers with their global withholding tax relief and recovery in the widest sense. To perform our services as efficient and effectively as possible, and to provide insight and control, we use the automation solutions of our software platform Protocol. Our services comprise custody withholding tax oversight & control, withholding tax reclaim, and withholding tax compliance support.
Custody tax oversight & control

Investors’ and investment managers’ custodians offer withholding tax relief as part of their overall service offering. However, the responsibility for these services lies with investors. This means investors should constantly compare custody rate tables with service applied, close service gaps, and complete a constant and recurring stream of custody tax packs and withholding tax forms. It is a time consuming exercise that is prone to human error. Protocol provides investors the tooling they need to attain full oversight and control and manage their custodian’s withholding tax service. With Protocol and the supporting services of our withholding tax experts, investors can be assured they are getting everything out of their custodian’s withholding tax service.

Withholding tax reclaims
In our view, the single biggest misconception among investors and investment managers when it comes to withholding tax is that their custodian “has it all covered”. Indeed, custodians offer a wide array of withholding tax relief services across many investment markets. But there are always certain situations, investment types, and markets where custodians do not offer withholding tax relief services. Typically, these will be the less standard situations, investment types, and more complex markets. This is where we step in. Comparing investors’ (custody) tax rate tables with our own dynamic global withholding tax data base, we identify additional withholding tax recovery opportunities that fall outside the custodian’s service offering. This includes source country domestic tax law exemptions and refund provisions, tax treaty exemptions and refund provisions, as well as ECJ reclaims (also known as Fokus Bank reclaims, after the same name ECJ ruling). Once we have identified the additional withholding tax recovery opportunities we collect, validate, and process the requisite data and documentation for withholding tax reclaims procedures, and prepare, file and follow up on reclaims. In the process, we can liaise directly with the custodian to relieve investors from this burden. We take care of reclaiming additional withholding tax reclaim opportunities from start to finish.
Withholding tax compliance services
We fill out investors’ custody tax questionnaires, withholding tax forms, and ad hoc or special corporate action forms to help them get the most out of their withholding tax service and additional withholding tax reclaims. Protocol automatically prepopulates the reclaim forms from many investment markets.

Start optimizing your withholding tax recovery today!

Start optimizing your withholding tax recovery today!