SOFGEN SaveTax SA (SOFGEN), and ERI have extended their existing partnership: ERI will market SaveTax - SOFGEN’s multi-jurisdictional tax calculation and reporting platform – to the OLYMPIC Banking System user community.
In addition, ERI will supply and maintain a standard interface between the OLYMPIC Banking System and SaveTax, allowing banks using both applications to deliver country specific and generic tax reports for wealthmanaged clients in a highly efficient and automated manner.
The SaveTax functional footprint covers 11 tax jurisdictions, in addition to the production of generic tax statements for tax residents of European countries and elsewhere. The countries include France, Belgium, the Netherlands, Spain, Portugal, Switzerland, EUSD, Germany, Luxembourg and the UK. Further countries will be rolled out as part of the 2014 – 2016 development cycles.
Nicholas Hacking, Sales Director at ERI, said, “As private banks’ tax obligations have become more complex, their demand for a dedicated tax software that handles tax calculation and reporting has increased. We are happy to be able to bring a real benefit to our customers by offering SaveTax - which we consider to be one of the leading tax calculation and reporting platforms in the industry today - as well as an ERI-supported interface.”
Alina Mazilu, SOFGEN SaveTax CEO, commented, "We greatly value the extension of our partnership with ERI and look forward to bringing to ever-more OLYMPIC Banking System users, “made in SaveTax” tax statements. In addition to the production of generic tax statements for tax residents of European countries and elsewhere, the SaveTax functional footprint covers 10 tax jurisdictions: Belgium, France, Germany, Luxembourg, Portugal, Spain, Switzerland and the UK. Further countries will be rolled out as the project is expanded in 2014 – 2016."