Zurich, May 5, 2022 – Regnology, a leading international provider of innovative RegTech, SupTech, and tax reporting solutions, has released the 5th generation of its award-winning tax reporting solution FiTAX. FiTAX has been continuously developed over the past 20 years and covers reporting requirements in 140 countries. It is used by more than 3,200 financial institutions, making it a market leading software for tax reporting globally.
The latest generation of FiTAX comes with a brand-new architecture bringing customers considerable benefits. Users of the software can now deploy a single instance of FiTAX covering multiple tax years at once. This results in a reduction of efforts as well as deployment and maintenance costs. With the 5th generation of FiTAX, there is a considerable increase in the harmonization between tax years and a support for corrections of tax reports from previous years.
At Regnology, we want to provide our customers with the best possible software and services. Since its launch more than 20 years ago, our experts together with our Big4 tax advisor partners have been constantly developing FiTAX further with significant expansions of capabilities to better suit our customers’ needs. With the latest generation, FiTAX has become even more innovative and sustainable in order to meet the upcoming challenges in the areas of tax reporting and operational tax.
Fabrice Chatelain, Product Director Tax solutions
FiTAX enables country-specific reports based on local guidance. With thousands of data validation rules, the completeness and correctness of reporting data is verified before that data is used. FiTAX is an established, modular, ready-to-use tax reporting solution that meets the reporting requirements of FATCA, CRS/AEOI, DAC6/MDR and QI reporting. FiTAX will also cover the incoming crypto assets tax regulations such as DAC8 and the Crypto-Asset Reporting Frame (CARF) of OECD.
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