Demanding regulatory framework conditions of credit institutions / financial service providers lead to extensive tax law peculiarities. This applies all the more to the digital new and further developments in the business area of financial services ("FinTech").
In addition to knowledge of national and international tax law, the taxation of credit institutions requires a special degree of industry-specific expertise, both of the banking business and its regulatory aspects.
The banking team at WTS consists of highly qualified specialists with many years of experience in providing tax advice to credit institutions. This enables us to deliver tailored and pragmatic advice to clients in the banking sector that takes into account the individual requirements of each client and can be implemented in day-to-day business. In order to meet your requirements, our banking experts pursue a holistic, interdisciplinary approach to client support, which always takes into account the specifics of banking in addition to tax aspects.
The advice provided by our team includes both ongoing and project-related consulting. Accordingly, our range of consulting services covers, e.g.:
- Preparation of corporate tax returns and tax filings (including assumption of the compliance function)
- Support in external tax audits (incl. assumption of the function)
- Conducting judicial and extrajudicial appeal proceedings
- Preparation of quarterly and annual tax reporting according to HGB/IFRS (incl. assumption of the tax accounting function)
- Tax advice in connection with (cross-border) transactions, financing and restructuring (e.g. in the wake of Brexit)
- Tax advice on withholding taxes (including capital gains tax, financial transaction tax) and the bank's internal processes
- Support in the implementation of tax compliance management systems
- Support in setting up and improving internal bank processes to meet tax requirements (e.g. DAC6)
- Tax advice on structured financial products
- VAT advice on various business transactions and internal bank processes (including optimization of input tax rate)
- Advice on cross-border intra-group transfer pricing and preparation of related documentation
- Advice on all tax aspects of bank branches / permanent establishments
- Special tax issues and ad-hoc inquiries.
Together with the financial services specialists of our network WTS Global, we support international banking clients with regard to a diverse range of cross-border issues.
With our business partnering model, WTS has developed an innovative tax consulting concept. Within this framework, we take over (group) tax functions in whole or in part, so that compliance and liability risks in the company can be reduced and tax departments can be optimized in terms of quality, flexibility and costs. The distinctive practical relevance and end-to-end tax consulting distinguish the WTS business partnering model. Our banking team can provide you with targeted and practicable solutions.
