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Trans World Compliance

TACS

TWC's Tax Authority Compliance Suite (TACS) provides a comprehensive modular platform to automatically exchange FATCA and the OECD's CRS, CbC, NTJ, MDR, and ETR data types. In addition, TACS was created to support all 24 OECD Base Erosion and Profit Shifting (BEPS) data exchange types through the OECD's Common Transmission System (CTS 2.0).

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Reduce the cost of regulatory compliance

Whether CRS and FATCA reporting is a cost center or a profit center to your business, you can leverage our technology to streamline and automate your current manual processes and allocate resources better to optimize process times, improve reporting accuracy and reduce overall FATCA and CRS compliance costs.

Enhance your KYC* for FATCA and CRS

Through jurisdiction specific intelligent rule bases let our solution perform a full discovery of your client data to help you unveil hidden indicia, data deficiencies (Invalid TIN formats) and changes in circumstances and via corrective actions understand the real status of your client base regarding FATCA and CRS.

Mitigate regulatory and reputational risk

TWC will help you navigate FATCA and CRS regulations swiftly and precisely with our jurisdiction specific rule-bases and XML generation engines that improve reporting accuracy and provide proof and evidence to regulators and stakeholders of the quality of your due diligence efforts.

3-step process

Our simple three step-process allows FI's to streamline their classification, remediation, and reporting process in a flexible, secure, and precise way.

TACS

Key Features

  • Fully automated, "out of the box" "set and forget" software, 100% User-focused
  • Aligned with EOIR, SEOI and AEOI regulations and country specific requirements
  • Industrial grade software, with flexible implementation in just hours and independent of technology.
  • Fully integrated with the IDES Gateway for FATCA and with the OECD's CTS
  • Multiple data entry options (Excel, XML, manual entry, webservices) and multiple reporting capabilities
  • Modular “on-demand” solution that shares TWC'S common core and top-notch multilingual support
TACS SUITE

MODULES

Take a look at our different modules each one based on a different regulation

Foreign Account Tax Compliance Act

Our TACS- FATCA exchange module is an entirely automated solution that provides a simple, easy-to-use interface for Financial Institutions to register and report FATCA data.

  •  Regulated FI registration with multiple upload formats (Excel, CSV, XML, manual entry) for FIs.
  •  Extensive validation to ensure completeness and avoid sending or receiving errors to/from other tax jurisdictions.
  • Real-time exchange to allow FIs and TAs to receive immediate feedback from partner tax authorities.
  • Extensive auditing and reporting capabilities fully integrated with the IRS IDES Gateway.
  • A fully automated system that can report and receive information without government operator intervention.
Common Reporting Standard

Our TACS- CRS module is an entirely automated solution that provides a simple, easy-to-use interface for Financial Institutions to register and report CRS data.

  •  Regulated FI registration with multiple upload formats (Excel, CSV, XML, manual entry) for FIs.
  • Extensive validation to ensure completeness and avoid sending or receiving errors to/from other tax jurisdictions.
  • Extensive auditing and reporting capabilities and fully integrated with the OECD's CTS.
  • A fully automated system that can report and receive information without government operator intervention.
Country by Country

TACS' (CbC) Country by Country module provides a fully automated system to support a tax authorities implementation of the OECD's Base Erosion and Profit Shifting (BEPS) initiative action item 13.

  •  Data entry by MNEs via spreadsheets or manual data entry.
  •  Extensive auditing and reporting.
  •  A fully automated system that can report and receive information without government operator intervention.
Exchange of Tax Rulings

TACS Exchange of Tax Rulings module provides a fully automated system to support a tax authorities implementation of the OECD's Base Erosion and Profit Shifting (BEPS) initiative Action Item 5*.

  •  Data entry by Judicial officials via spreadsheets or manual data entry.
  •  Ability to review and export tax rulings sent to a specific jurisdiction.
  •  Extensive auditing and reporting.
  •  A fully automated system that can report and receive information without government operator intervention.
 
Mandatory Disclosure Rules

MDR will be used by tax authorities to capture and exchange certain company structures setup to avoid CRS reporting obligations and specific company structures meant to avoid reporting true ownership structures.

  •  Ability to enter new structures and supporting data for exchange.
  •  Review and export features in PDF and XML.
  • Extensive auditing and reporting.
  • A fully automated system that can report and receive information without government operator intervention.
Economic Substance

TACS (NTJ) No or Nominal Tax Jurisdictions module provides a fully automated system to support a tax authorities implementation of the OECD's Base Erosion and Profit Shifting (BEPS) initiative Action item 5.

  •  Ability to add supporting documentation.
  •  Management test.
  •  Electronic signature.
  •  A fully automated system to send data with no intervention by the Tax Authority.
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