RegTech solution provider Regnology has acquired Tax Information Reporting (TIR) software from PwC UK.
PwC and Regnology have had an alliance for many years and this transaction aims to broaden the alliance, it said.
TIR offers two tax reporting software solutions for financial institutions. The first is for Automated Exchange of Information (AEOI) covering CRS and FATCA, and the second is for client tax reporting providing financial institution’s clients with high quality tax reports.
Following the close of the acquisition, TIR software business team will remain based in London, UK, and will operate under Regnology TIR UK.
Speaking on the acquisition, Regnology CEO Rob Mackay said this was part of its global growth strategy. He said, ?We further strengthen our market-leading position, our customer base, and also add expertise and knowledge to our growing team. It is our vision to connect regulators and the industry to drive financial stability, tax transparency and a sustainable future.span>
Regnology tax reporting business covers tax reporting and AEOI solutions for financial institutions and tax authorities. Its services support regulatory requirements for tax transparency defined by the EU, OECD and US.
Earlier in the year, social investing network eToro implemented Regnology tax reporting solution as part of a new partnership to help clients produce tax reports.
Regnology product director Erik Becker recently spoke to FinTech Global to discuss how its services are blazing a new trail for ESG reporting.
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