Automating tax document management

tax document management

Welcome to the first in the tax operations transformation series of seven blogs, helping you to digitize your tax operations processes. This blog series introduces seven modules built by Xceptor to transform key areas of tax management.

This blog focuses on automating tax document management to achieve tax relief on behalf of your customers. Delivering employee efficiency, customer satisfaction, and regulatory compliance. Guiding you on streamlining your tax operations process, transforming it into a new revenue stream for your organization. 


An ongoing challenge facing asset-servicing businesses, aside from new regulation, is the range and complexity of the documentation required for the proper application and processing of tax relief in some markets. Additional complexity arises with different relief at source requirements for individual markets and local agents, with a broader need for physical documentation across many markets.

Where certain tasks are relegated to legacy spreadsheets, hundreds of hours are lost annually to manual work that runs a high risk of human error, creates delays, and is notoriously difficult to keep organized.

Our tax document management module, powered by automation, has been designed to make tax processing faster, safer, and accurate. Maximizing tax relief at source and improving customer satisfaction.  

A more responsive tax service

Before an income payment or distribution from an investment is issued to a customer, all relevant tax documentation must be completed and dispatched, to achieve tax relief at source. Where legacy and manual processes prevent you from doing this in time, the process is delayed, the risk of needing to undertake remediation work and tax reclaims increases, and customer relations are damaged.

Our tax document management module helps you manage these risks through data and process automation. Our module automates the processing of documents at scale and speed, from customer onboarding and Know your Customer (KYC) documents, Holdings based document capture, relief at source through to tax reclaim documents. With end-to-end automation, you are freed to focus on more profitable areas of your tax digital transformation journey.

Centered on workflow

Our asset servicing clients value our workflow automation, which examines customer positions and accounts, produces and pre-fills tax documents. It automatically transmits those documents to customers where signatures are required.

Our tax document management module can be configured to route the workflow internally or direct, under Power of Attorney, to local tax authorities, regulators and local agents or depositories. You are empowered to prepare, sign, and forward the documentation to whichever organization applies the tax relief swiftly and accurately.

Improved visibility and increased efficiency

In an industry overwhelmed with documentation, keeping track of it all is challenging. Preparing it accurately and sending it to the relevant parties in a timely manner, even more so. Improve visibility of document status and increase efficiency, with the automated capture, production, renewal, and solicitation of all documentation required to achieve tax relief.

Millions of documents and transactions can be processed annually using our fully auditable, regulatory compliant tool, with control mechanisms built in. The ability for tax processing teams to configure business rules themselves will reduce key person dependency, allowing your tax operation teams to work on more value-added tasks.

Reduce the time spent on unrewarding manual tasks and refocus your team’s energy on developing customer relationships and business innovation. Providing a best-in-class tax service.

The European Commission's (EC) initiative aimed at introducing a common EU-wide system for withholding tax, focuses on true harmonization of document rules and tax relief processes, increasing the level of digitization in the end-to-end process and the exchanging of information between tax authorities. Xceptor offers you flexibility and conformity to both adapt to, and embrace, the much-anticipated proposals that will undoubtedly benefit investors and their financial intermediaries. Read our response to the EU public consultation.

Enhance your tax document workflow today and embrace the technology at your disposal.

Our next article explores the challenges of relief at source and how automation holds the key to turning your tax operation into a revenue-generating service.