Meritsoft Creates Module for Dividend Tax Tracking
The addition to the vendor’s tax management platform aims to help trading firms understand if they can recover taxes legally.
Software vendor Meritsoft, which is owned by IT services giant Cognizant, has updated its tax management platform to give banks oversight of trading activity, in the wake of the European “cum-ex” tax evasion scandal.
The vendor’s cum-ex manager aims to give banking clients complete oversight of their trading activity to monitor when and if they are eligible to recover dividend withholding tax.
Daniel Carpenter, Meritsoft’s head of regulation, said the module was a “logical extension” to the
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