• Tax: A Problem or an Opportunity?

Custodians and CSDs are familiar with the challenges involved in servicing cross-border assets and processing associated corporate actions. Many of these processes remain manual and have proven difficult to automate. However, pressure is increasing from investors, market participants, issuers, and regulators to improve the efficiency of tax reclaim servicing.




GlobeTax provides streamlined tax processing for global relief at source and quick-refund through our MIDAS® (Managed Income Distributions At Source) platform. We contract directly with custodians to monitor income data and investor information, including for omnibus accounts. GlobeTax manages the periodic document submissions, and instructs the aggregate withholding rates to be applied by the local subcustodian based on participating clients’ entitlement rates.

When relief at source cannot be achieved, GlobeTax creates and compiles claims—which are then submitted to the appropriate authority in the foreign market—and monitors them until the reclaim has been paid.

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GlobeTax’s solutions enable CSDs and ICSDs to enhance their tax services by offering managed investor disclosure programs, global relief at source, entitlement recovery, and tax reporting. With the help of our comprehensive client-facing solutions including MIDAS® (Managed Income Distributions At Source) and ESP, we automate and simplify the withholding tax reclaim process.

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