SAP Capital Yield Tax Management (SAP CYT)
SAP's standard withholding tax solution – made by iBS.
The taxation at source of returns on interest from capital assets has become a permanent aspect of fiscal policy in many countries. Since a large share of these taxable capital yields are generated by banks and insurance companies, these businesses face the challenge of calculating capital yield tax taking into account country-specific regulations.
SAP Capital Yield Tax Management (SAP CYT), developed by iBS on behalf of SAP, represents a powerful solution to this challenge.
Features & Benefits
- Calculation and posting of country-specific tax on capital yield including loss offsetting
- Standardized, central tax calculation for all types of revenue and income
- Flexible modeling of products specific to particular institutions using customizing settings
- Central master data management for partner and account data relevant for tax purposes
- Extensive reporting capabilities to meet external and internal information requirements
- Can be implemented rapidly using sample customizing settings supplied