Making Sense Securities taxation: Why custodians must adapt
Apr 30, 2025
Rebecca Wilmott, Executive Director in J.P. Morgan’s EMEA Custody Product team, dives into the complexities of securities taxation in Europe. She discusses how evolving regulations necessitate enhanced collaboration between custodians and tax authorities. The conversation highlights the critical role of technology, including AI, in improving compliance and risk management. Wilmott also emphasizes the need for custodians to adapt swiftly to maintain optimal service standards amid the shifting landscape of tax challenges and client demands.
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Custodian Tax Complexity Growth
- Increasing global investment diversification drives demand for tax services across new jurisdictions.
- Custodians face heavier compliance with complex and expanding tax rules beyond just withholding taxes.
Data is the Heart of Compliance
- Accurate, governed client tax data is crucial for sound tax compliance and regulatory transparency.
- Custodians must efficiently extract and provide this data to clients and tax authorities to meet expectations.
Leverage Technology for Tax Efficiency
- Custodians should prioritize technology to manage tax inquiries and securely handle documentation.
- Leveraging OCR, APIs, and workflow automation can streamline tax service delivery and compliance.