Enterprise Iron Financial Industry Solutions, Inc., an industry-leading provider of business, technology and workforce solutions that resolve complex challenges and optimize operations, has partnered with WTax, a world leader in technology-supported withholding tax recovery services, to respond to the struggle for efficient recovery of cross-border investment income withholding tax.
Asset owners and asset managers around the globe face the ever-evolving operational challenge of reclaiming foreign withholding tax. When in-house teams and custodial support become stretched, the inability to keep creates a significant knowledge and resource gap. The compounding effect of consistent tax leakages causes a material drag on not only investment performance, but on resources from the efforts in trying to overcome the challenges in trying to reclaim taxes.
“As world leaders in withholding tax recovery services, WTax is a welcomed addition to our list of Delivery Partners as we continue to grow and expand capabilities for the betterment of our clients,” explained Peter Lohri, COO of Enterprise Iron. “Their service quality and commitment to success is on par with Enterprise Iron’s core values and we look forward to working together.”
Daniel Ginsburg, CEO of WTax adds: “Many asset owners and managers are often unaware of the risk-free operational alpha that is available to them through the optimization of their withholding tax reclaim function. However, even if the gap is identified, the operational challenge of recovering that alpha is difficult to overcome without the correct process in place. WTax is pleased to offer a largely automated, efficient and holistic reclaim service to Enterprise Iron’s clients, enabling them to seamlessly recover the withheld international taxes that they are entitled to.”