One of the components of the OmniChannel Banking System ABOS NovoDoba® is the highly automated Module gTax which enables reviewing and creating FATCA and CRS reports.
FATCA (Foreign Account Tax Compliance Act), the international standard for the automated exchange of information related to US taxpayers is completely implemented into the System, as well as CRS (Common Reporting Standard) which is a global reporting standard for the automated exchange of information (AEoI). CRS enables the tax authorities to obtain a clearer understanding of financial assets held abroad by their residents, for tax purposes.
Just as in other solutions developed by ABBA, working in the Module gTax is simple and enables quick report preparation, its export to Excel, as well as sending XML files.
For the reports for which the XML files are created, it is possible to view the information regarding the number of the report, the operator that created the report, the time, the status, and the name of the report, and also the reporting year.