Tax

Xceptor captures the required RAS document, pre-fills it, then dispatches the form to its required destination. Chasers are built into the document workflow to ensure the document is collected and submitted to the market in time to achieve Tax Relief-at-Source.

Reclaim forms and supporting documents are generated, distributed, monitored, chased and reconciled on a continual basis to ensure efficient recovery times. Reclaim payments are also reconciled to repatriate the cash proceeds to the client in a timely manner.

Xceptor facilitates this by examining clients and their eligibility to a reduced tax rate, validating tax documentation to calculate the rate, the amount of withholding and the availability of a tax reclaim on request.

All payments received from a market source are reconciled against all internally distributed client payments, underlying NQI payments, income adjustments and reclassifications are factored in before generating 1042-S reports and the required IRS e-file at the conclusion of the reporting year.

This enables clients to manage rules to automate the process of capturing the liable transaction, calculate the amount of withholding and report to client and the tax authority or withholding agent.