RAQUEST and WTS, a global full-service provider of tax, financial and deal advisory services, announce the beginning of their partnership. This collaboration aims to offer the financial sector comprehensive and digital withholding tax services in the future.
Digital withholding tax management is increasingly gaining importance, not least due to the European Union’s recently adopted FASTER initiative. Particularly, the financial sector will face significant opportunities and challenges in the digital transformation of its processes in the coming years. The new partnership between WTS and RAQUEST is set to address this by offering banks, asset management companies, and financial advisors a wide range of services in this area.
RAQUEST offers bundled withholding tax reclaim services in over 35 investment markets for all common types of securities and investor categories, while also enabling the required digital data transfer and connectivity to many European tax authorities. WTS will utilise RAQUEST’s technology solutions to efficiently and automatically process withholding tax refunds for its clients.
“With our new partnership, we are setting a new standard in digital withholding tax processing. Our goal is to offer a holistic service that is not only comprehensive and efficient, but also significantly reduces the complexity of withholding tax processes. This collaboration marks an important step towards a digital future where our clients can benefit from seamless and optimised withholding tax processing,” explains Robert Welzel, Partner in Financial Services at WTS in Frankfurt.
Manfred Artmeier, Head of Growth at RAQUEST, adds: “By combining WTS’s expertise and experience with our leading technology, we are creating a powerful hub that meets the desire of many players in the financial sector to view and process withholding taxes systematically.”
Both parties are available for current concerns and questions to provide foreign investors with a digital, tailored solution for the currently stalled withholding tax refund process in Germany by the end of this year.
About the WTS Group
WTS is a global full-service provider of tax, financial and deal advisory. With more than 1,600 experts in Germany and being one of the most progressive digital units worldwide, WTS develops innovative and integrated solutions to support digital transformation and to safely navigate tax and finance functions through the increasing regulatory challenges.
The WTS consulting services are represented by its three business units: Tax, Advisory and Digital. WTS deliberately does not offer annual audits and is, therefore, an independent and long-term partner. WTS is represented in Germany at 14 locations and in more than 100 countries worldwide.
For more information: wts.com/de and services/financial-services
About RAQUEST
RAQUEST GmbH is a German fintech and part of the Halvotec Group. The Fintech with offices in Germany and Switzerland is the market leader with its software solution for banks in Europe and has over 15 years of experience in withholding tax. RAQUEST helps the financial industry to handle withholding tax easier by simplifying and automating the entire withholding tax processing for banks.
For this, the RAQUEST team combines extensive withholding tax expertise with passion for efficient software solutions to provide financial institutions with a central platform for reclaiming European withholding tax in all investment markets. Serving as a nexus for politics, tax authorities, associations, and the financial industry, RAQUEST excels in guiding the technical and procedural implementation of digitisation step, developing products for an interconnected financial industry.
For more information: raquest.tax
