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goal
group
accelerating investor returns
Awareness of the financial importance of effective tax reclamation on cross-border securities earnings is rising
appreciably amongst investors keen to maximise their return.
It is now more important than ever that investment advisors, trustees and fund managers are able to demonstrate
business integrity, financial transparency and strong corporate governance as an integral part of fulfilling their fiduciary
duties.
This means being able to effectively and accurately judge the value of dividend and interest returns, recognise how
tax affects overseas markets and how it applies to specific fiscal situations.
Delivered in-house in a service provision environment, and using its own GTRS technology, GOAL provides an
outsourcing capability for those clients who, in the quest to reduce costs, increase productivity, leverage the most
current technology and reduce risk, see outsourcing as a viable option to remaining competitive in their market place.
GOAL TaxBack will work with you to create data transfer routines from your corporate action system or mainframe to
extract the key data needed to process a reclaim. This extraction will be at a frequency agreed when establishing the
service level agreement.
GOAL TaxBack will install a totally separate system for each client. Each system will be an isolated version of GTRS,
with its own segregated database, import configurations and access passwords.
GTRS has 12 workflow stages that are used to track and monitor reclaims. Reports are printed on a periodic basis to
ensure that all reclaims are tracked and processed in the shortest possible time period. In addition to this tracking, we
use our Statute of Limitations module to ensure all reclaims are processed within the pre-defined time period.
We ask you to sign a Power of Attorney, which restricts GOAL TaxBack to only signing tax reclamation documentation
on behalf of the client. This means no further interaction with the client is needed.
Tax authorities will require hardcopy evidence of:
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Beneficial ownership of the securities at ex-dividend date
Evidence that withholding tax was deducted at source (i.e. Tax Voucher).
We maintain tax treaty information and forms for 175 jurisdictions both as markets of investment and countries of
domicile. This combination is continually changing as tax authorities re-appraise their taxation needs. We also support
over 30 client types and all stock types (including ADRs) resulting in excess of 2 million permutations.
We will commence processing your reclaims within 24 hours of receipt. However you may want to send them monthly
or quarterly to work more efficiently.
All receipts are paid to a ring fenced Clients Account. These accounts are held locally for each market and are
maintained in accordance with FSA regulations and our fiduciary responsibility.
Funds will be transferred within 5 days of the refund being received to your nominated foreign currency accounts.
GOAL TaxBack can offer a foreign exchange facility if required.
Goal TaxBack can generate reports by Client, Country, Stock, Fund Manager and Depot. These reports can be sorted
by a variety of fields such as a Date, Stage, Status, Currency, which can either be a summary or more detailed. These
reports are available via our on-line reporting capability.
We have two elements to our tariff, the first is a set up fee, which is calculated based on the resources required to
initially define and configure the process. The second element is a charge per reclaim, which can either be a fixed cost
or a percentage of the reclaim values. GOAL TaxBack Limited is a wholly subsidiary of Global Operations and
Administration Limited (GOAL) and has been providing outsourcing services to clients since 1997.
GOAL GROUP LIMITED
7th Floor, 69 Park Lane,
Croydon, Surrey, CR9 1BG
t +44 (0) 844 499 6388
t +44 (0) 208 760 7130
f +44 (0) 208 681 2854
e [email protected]