JP Morgan Investor Services has launched a new “tax intelligence” service for institutional investors. It consists of international tax news and the latest tax forms necessary worldwide. Because the service provides information and insights on dealing with complex cross-border tax issues and how they impact portfolio performance, JPMorgan expects it to be particularly useful for clients in Europe because of the multi-jurisdictional environment. JPMorgan already have 10 clients testing the product.
“JPMorgan Investor Services is the first custodian to offer its clients a full range of global tax resources in a simple-to-use, web-based product that allows customization of information at their fingertips.” says Neil Henderson, senior vice president and JPMorgan Investor Services Securities Processing and Fund Services executive. “JPMorgan E-Tax is the first of several new state-of-the-art technology advancements on our VIEWS platform, so our clients have the best-in-class system in the industry.”
VIEWS is a browser-based suite of applications being developed by JPMorgan Investor Services that will allow users access to a variety of reporting, research and analytical applications.
“JPMorgan E-Tax will help investment professionals increase their investment returns through better tax management,” adds LawrenceManning, JPMorgan Investor Services Head of Tax Services. “JPMorgan E-Tax is a valuable tool loaded with critical tax information that can help clients significantly increase total investment return. It also provides information and insights on dealing with complex cross-border tax issues and how they impact portfolio performance.”
Designed for institutional investment professionals at investment banks, asset management firms, pension funds, banks and life insurance companies among others, JPMorgan E-Tax offers tax information from more than 85 markets around the world.
News Flashes contain breaking news on developments in the tax industry and changes in regulations globally, which are searchable back to 1998. JPMorgan E-Tax also includes the Tax Monitor, a monthly publication with updates of global industry developments and trends, policies, treaties, and Market Profiles that describe tax rates in different countries, including exemptions and capital gains. In addition, JPMorgan E-Tax provides the full spectrum of tax forms needed by JPMorgan clients worldwide.
The bank says the development of JPMorgan E-Tax has been completed and the service is available to clients of JPMorgan.