Your Financial Transaction Tax (FTT) solution
Syn~FTT
Process Financial Transaction Taxes (FTT) calculations and payments ensuring compliance with complex global regimes
Complete FTT processing
Streamline the calculation, reporting and payment of Financial Transaction Taxes (also known as Tobin Tax) using Syn~FTT, protecting your organisation from complex and ever-changing FTT regimes. Centralise trade data and tax rules for highly-automated and accurate tax assessment, optimisation and declaration across business lines, asset classes and regions.
Optimise tax for competitive advantage
- Turn FTT into an opportunity by automatically identifying savings for your organisation and clients, paying the correct tax in the first instance and ensuring readiness for future changes
- Streamline your operations by removing the need for manual processes and duplication of effort across regions, focusing only on managing exceptions
- Stay compliant with your FTT obligations with a fully audited platform enabling on-time and accurate reporting across jurisdictions
Your solution for all regions
FTT rules vary across jurisdictions and several more countries are planning their own regimes, adding to the complexity of managing global trading activity.
Syn~FTT allows you to manage all your FTT obligations in a single system. Tax rules and workflows can be configured for each jurisdiction and real-time exchange rates ensure accuracy.
New regions can be quickly added, allowing you to efficiently respond to the changing tax landscape.
End-to-end automation
With unmatched transparency and straight through processing, Syn~FTT removes the need for high-risk manual processes.
Syn~FTT manages the complete end-to-end process:
- Integration with other systems for input data
- Data validation and fixes
- Creating and applying tax calculations
- Rules-based netting engine
- Streamlined declarations and payments
- Rebate processing and reporting
Tackling the complexities of the Financial Transaction Tax
The concept of a Financial Transaction Tax (FTT) isn’t new. It was first introduced as a European-led exercise with 10-member states committing. France was the first country to join and since then, other EU markets have introduced the tax following political pressure to ensure the financial sector contributes to budget holes created by the financial crisis, and now the COVID pandemic. GBST spoke to Asset Servicing Times about how non-compliance is simply not an option, and potentially very costly. Read more.
Learn more about our Syn~FTT solution.
Get in touch to discuss how we can help you with your financial transaction tax challenges.