ISITC TALKTIME: The Untapped Potential of Tax Reclaims
TalkTime Podcast: The Untapped Potential of Tax Reclaims
Did you know that an estimated $16 billion in withholding tax on foreign dividends goes unclaimed every year? Most investors are missing out on money that’s rightfully theirs—simply because the process to reclaim it is complex, time-consuming, and often misunderstood. In our latest ISITC Europe Talk Time podcast, ‘The Untapped Potential of Tax Reclaims’ Gary Wright (Director, ISITC Europe) sits down with Austen Little, Product Development Manager at TaxTec, to shine a light on this industry-wide issue.
Why Does This Matter?
- Significant Losses: Both individual investors and large institutions are leaving substantial sums unclaimed, impacting portfolio returns and reinvestment opportunities.
- Complex Processes: With hundreds of possible scenarios and varying requirements across global tax authorities, reclaiming withholding tax is a daunting task.
- Lack of Incentive: Service providers often see tax reclaims as a cost, not a revenue opportunity—meaning investors are left to navigate the process alone.
What Can Investors Do?
- Be Proactive: Ask your service providers to include tax reclaim services in your agreements.
- Stay Informed: Understand your rights and the potential value you could be reclaiming.
- Choose Partners Wisely: Work with firms that prioritize efficiency and transparency in asset servicing.
How TaxTec Makes a Difference
TaxTec’s innovative technology automates and streamlines the entire tax reclaim process. From validating entitlements to managing documentation and tracking submissions, TaxTec ensures investors get back what they’re owed—quickly and efficiently.
Join the Movement
ISITC Europe is committed to raising awareness and driving change in the industry. We’re advocating for better standards, more efficient processes, and greater transparency—so investors can finally unlock the value they deserve.
Listen to the podcast to learn more about how you can benefit from tax reclaims and why it’s time for the industry to step up.
Viewing time: 27 mins
Austen Little is Product Development Manager at TaxTec
Austen Little has brought his 25 years experience of tax operations and reclamation to TaxTec, gained from investment banks and wealth managers including BoA Merrill Lynch, Deutsche Bank and UBS. Dedicated to innovative product developments that improve the tax process lifecycle, Austen has implemented many changes reducing risk, enhancing quality and increasing automation for the benefit of clients.
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