18 November 2019

Vizor Software Launches Exchange on Tax Rulings Solution for Tax Authorities

Tax Authorities in jurisdictions who have joined the OECD/G20’s Base Erosion and Profit Shifting (BEPS) inclusive framework can now avail of Vizor’s new Exchange of Tax Rulings (ETR) module to fully meet their obligations set out under Action 5.

Vizor Software recently launched its new Exchange of Tax Rulings (ETR) solution which provides a complete, secure and user-friendly solution for Tax Authorities to meet their obligations set out under Action 5 of the OECD/G20 BEPS package. The enhanced compliance checking inbuilt in the system ensures high-quality data exchanges.

Exchange on Tax Rulings (ETR) is an add-on module to the Vizor AEOI solution which streamlines the sending and receipt of Tax Rulings with partner jurisdictions. It automatically processes and displays tax rulings received via the Common Transmission System (CTS), provides web-based entry for tax rulings received in other formats and leverages the same web interface to prepare and send rulings as needed. This ensures that for all international exchanges of information, EOI taxpayer information is managed in a single integrated system.

The ETR module is used to manage the sending and receipt of all tax rulings with partner jurisdictions irrespective of original format (XML, Email, Excel, Word or PDF). It automates the preparation of valid XML and secure transmission of tax rulings via the CTS. It includes an easy-to-use web interface that displays tax rulings received via the CTS and is used to record rulings received via other channels, such as email.

Vizor Software is already the market leader in delivering technical solutions for all AEOI requirements (CRS, FATCA and Country-by-Country reporting ) to Tax Authorities. This expertise has been refined through implementing the solution in 16 jurisdictions around the world and from close co-operation with all of its clients and the OECD.

“Vizor strives not just to be a technology provider but a partner in assisting its clients and other jurisdictions to meet the recent wave of international tax exchange commitments,” commented Mary O’Leary, Vizor’s AEOI Business Development Manager. “We are delighted to announce the launch of our ETR module to add to our suite of Products bettering both the journey for our clients and adding to our tax and technology expertise.”

Feature highlights of the Vizor ETR module:

  • Include ETR in a single integrated technical solution to meet all your international tax information exchange commitments.
  • Automatically validate and display ETRs received via the CTS and automatically prepare and send ETRs via the CTS. Vizor provides a proven and secure solution to interface with the CTS.
  • Complete traceability on the status and statistics of all tax rulings exchanged with partner jurisdictions.
  • The solution also provides an easy to use web form to enter, validate and securely add tax rulings received in non-XML formats. The same web interface is used to prepare, convert and transmit rulings to other jurisdictions.
  • Vizor continuously upgrades its software to ensure compliance with any future changes to the OECD XML schema for ETR.

Vizor is also aware of the Economic Substance requirement also stemming from Action 5 of the BEPS project and is currently devising a module to meet those requirements.

To learn more about the Vizor AEOI ETR module and how this out-of-the-box solution can help you fully meet your obligations under Action 5 of the OECD/G20 BEPS framework or indeed any aspects of the Vizor AEOI suite of products, please visit the Vizor website: https://www.vizorsoftware.com/solutions/aeoi-for-tax-authorities/.

About Vizor

Vizor Software is the global leader in cross-border information exchange solutions for Tax Authorities with 16 jurisdictions having already implemented our solution to facilitate either CRS and FATCA exchanges or both. With our expertise in AEOI standards, we ensure Tax Authorities can meet all their international commitments for CRS, FATCA, Exchange on Tax Rulings and CbC Reporting. Our proven software platform can be implemented in as little as five weeks and is continuously upgraded to ensure compliance with any future changes to the standards. The extensive validation of all submitted data greatly reduces the administrative burden and risk for the Competent Authority. You can learn more at vizorsoftware.com or by following Vizor on Twitter and LinkedIn.