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AEOI Solution for Tax Authorities and Central Banks
Leverage a robust, regulated, and centralized platform ensuring seamless compliance with IRS-OECD reporting obligations.
While the Automatic Exchange of Information (AEOI) between international tax authorities (TAs) aims to minimize the risk of fraud and tax evasion, some hurdles may impede the smooth functioning of the concerned bodies. The dynamic regulations make compliance difficult, a lack of automation increases the risk of human errors, and delays in reporting lead to penalties. Newgen’s unified AI-first solution helps authorities to follow AEOI seamlessly.
Key Features of Newgen’s Automatic Exchange of Information (AEOI) Solution
Seamlessly Secure
Multi-factor authentication with OTP and CAPTCHA-based login and Data Encryption at Rest and in Transit, in line with global security standards, enhances security. Role distinction dictated by rights ensures users only view what is required.
Real-time Filing Validation
Instant validation checks of filings made by financial institutions (FI), based on schema guidelines laid down by IRS-OECD, lead to quicker processing and reduce turnaround time.
Multi-modal Management
Multiple modes of submission to the FIs/MNEs, including XML, Excel, and online forms, provide flexibility to the tax authorities and central banks.
Payload Creation-Transmission
Automated payload creation for different countries, based on compliances, and transmission to IDES-CTS eliminate manual input
Diversified Dashboard
Out-of-the-box system Reports, Compliance Reports, and Custom Reports provide a 360° overview of the solution. Moreover, real-time tracking of filings made by the FIs/MNEs supports monitoring.
Audit Assist for Auditor
A comprehensive audit trail for all activities performed by the FIs/MNEs enhances transparency for the compliance teams. Automated documentation helps in maintaining audit trails.
Seamlessly Secure
Multi-factor authentication with OTP and CAPTCHA-based login and Data Encryption at Rest and in Transit, in line with global security standards, enhances security. Role distinction dictated by rights ensures users only view what is required.
Real-time Filing Validation
Instant validation checks of filings made by financial institutions (FI), based on schema guidelines laid down by IRS-OECD, lead to quicker processing and reduce turnaround time.
Multi-modal Management
Multiple modes of submission to the FIs/MNEs, including XML, Excel, and online forms, provide flexibility to the tax authorities and central banks.
Payload Creation-Transmission
Automated payload creation for different countries, based on compliances, and transmission to IDES-CTS eliminate manual input
Diversified Dashboard
Out-of-the-box system Reports, Compliance Reports, and Custom Reports provide a 360° overview of the solution. Moreover, real-time tracking of filings made by the FIs/MNEs supports monitoring.
Audit Assist for Auditor
A comprehensive audit trail for all activities performed by the FIs/MNEs enhances transparency for the compliance teams. Automated documentation helps in maintaining audit trails.
Find Your Winning Strategy with Newgen
Discover how Newgen transforms AEOI compliance with an end-to-end solution that integrates seamlessly with existing systems and adapts to dynamic regulations.
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