According to KPMG Switzerland, the new bundled service will provide banks with a range of services relating to withholding tax exemptions and refunds. It will also assist clients with tax reports for foreign clients.
Through this interface, financial institutions can gain access to KPMG Switzerland while simultaneously accessing settlement processes offered by SIX.
Private banks in Switzerland and Liechtenstein will now have the opportunity to access two separate services for tax reclaim and tax reporting.
Michael Ripken, COO of SIX Securities Services, commented: "Since KPMG and SIX Securities provide complementary tax services geared toward the same group of clients, it stands to reason that we should pool our areas of expertise and simplify clients’ access to these services."