Kingfield Tax Platform
Streamlining Global Tax Operations

Background
Global tax management is a complex and time-sensitive domain, requiring precise coordination between custodians, sub-custodians, buy-side clients, and tax authorities. Institutions often face challenges such as fragmented data, manual workflows, and limited visibility into tax reclaims and relief-at-source (RAS) processes.

The Challenge
A leading global custodian managing billions in cross-border assets struggled to streamline its tax operations due to:

  • Lack of centralized access to tax reclaims and RAS cases.

  • Inefficient collaboration with buy-side and sub-custodian stakeholders.

  • Manual workflows prone to delays and errors, particularly for exception management.

  • Limited real-time insights into operations, making it difficult to prioritize tasks effectively.

The Solution: Kingfield Tax Product
The Kingfield Tax Product provided a comprehensive platform designed to address these pain points. Built for scalability and collaboration, the solution offers:

  • Centralized Tax Management: A unified platform for managing tax reclaims, RAS cases, and document workflows across global custodians and asset owners.

  • Dedicated Portals for Stakeholders: Buy-side and sub-custodian portals enable seamless, secure communication and real-time collaboration.

  • Advanced Workflow Automation: Features like rejected reclaim handling, digital submissions, and auto-advancing workflows reduce manual intervention and improve processing times.

  • Comprehensive Auditing and Insights: Tracks every system event, action, and message to ensure compliance and transparency.

  • Custom Reporting and Reconciliation: Configurable reconciliation engines and detailed event reporting provide actionable insights for operational efficiency.

Implementation
The platform was deployed with minimal disruption, leveraging its modular design to integrate seamlessly with existing systems. Customized training and onboarding ensured that stakeholders could quickly adopt the solution.

Results

  • Increased Efficiency: Workflow automation reduced manual processing by 40%, freeing up resources for higher-value tasks.

  • Improved Collaboration: Real-time updates and communication tools enhanced coordination across custodians, sub-custodians, and buy-side clients.

  • Greater Transparency: The platform’s auditing capabilities provided full visibility into who did what, when, and why, improving accountability.

  • Proactive Management: Centralized dashboards and reconciliation tools allowed teams to prioritize critical tasks and resolve exceptions faster.

  • Scalability: The solution easily scaled to handle high volumes of data across multiple geographies and asset classes.

Looking Ahead
The Kingfield Tax Product continues to evolve, with features like the upcoming Central Activity Feed, which will provide users with a unified stream of all relevant system updates. This ensures stakeholders stay informed and empowered to act swiftly.

Conclusion
Kingfield Tax Product is more than a tax management tool—it’s a strategic enabler that transforms tax operations. By addressing inefficiencies and empowering stakeholders with real-time insights and tools, the platform has become indispensable for financial institutions navigating the complexities of global tax compliance.