Financial and Tax Adaptation Services

Financial and Tax Adaptation Services

Comprehensive management of services to adapt our customers’ systems, processes and operations to new developments or changes in fiscal regulations.

A few examples of the services we’ve provided:

ESMA (European Securities and Markets Authority)

Automation of the daily file downloading process for the FIRDS System (Financial Instrument Reference Data System), published at the ESMA website by implementing the interfaces needed to later upload the data into the entity’s databases.

  • Daily downloading of a JSON format publication from the ESMA website showing the downloading links for files published in a certain range of dates
  • Extraction of file downloading links
  • One-by-one downloading and processing for later uploading into databases

ANNA (Association of National Numbering Agencies)

Automation of the file downloading processes for the ANNA repository (JSON format) with information on the value identification codes ISINs (International Securities Identification Number) and the creation of the interfaces needed to transform and adapt them to Core banking systems.

SEPA transfers and debits

Adaptation of systems to the regulatory changes that entered into force in November 2018. T hese changes consisted of the application of SEPA debit and SEPA transfer file formats as well as a new type of file that can be sent by EBA clearing house (PSR: Payment Status Request).

Implementation of VAT filings with the Spanish and Canary Island Tax Agencies and forms 289 and 290 (CRS/FATCA)

Transformation of the information generated by Core Banking to adapt it to the Spanish Tax Agency format (forms 289, 290) and the receivable and payable invoice accounting record books.

The recent modifications to the VAT Regulations establish this new Value Added Tax management system based on keeping Tax Record Books through the Spanish Tax Agency online office through almost immediate invoicing records.

Order HAP/1695/2016, of 25 October (Official State Gazette of 27 October) passed form 289 for annual financial account informational declarations in the area of mutual assistance whereby financial institutions with Spanish Tax Agency obligations must send annually by sending digital messages between 1 January and 31 May of each year in relation to the financial information for the prior year.

Also modified was Order HAP/1136/2014, of 30 June (regulating certain issues related to information and due diligence obligations established in the agreement between the Kingdom of Spain and the United States of America to improve international tax compliance and the application of US tax laws for foreign accounts and approving the annual informational declaration of financial accounts for certain US nationals, form 290) in order to homogenize the deadline for submitting both informational declarations deriving from mutual assistance (current form 290 and the new form 289), establishing a period of 1 January to 31 May of each year in relation to the financial information for the prior year.

SAT, Tax Administration Service, México

Invoice and movement management fully integrated with SAT (Tax Administration Service)

If you are interested in receiving more information on any aspect related to our Financial and Tax Adaption Services, contact B2B Bureau.