Vizor AEOI provides 100% of the functionality required for effective AEOI as required either in compliance with the Common Reporting Standard (CRS) or the Foreign Account Tax Compliance Act (FATCA). With a product specifically aimed at cross-border information sharing for Tax Authorities, Vizor offers ongoing support and continuously upgrades its software ensuring compliance with any future changes to the standards for AEOI. An add-on module is available for Country-by-Country (CbC) Reporting with additional modules planned for Exchange of Tax Rulings (ETR) and Exchange of Information on Request (EOIR).
Jurisdictions who have agreed to the Automatic Exchange of Information (AEOI) must implement a technical solution that automates the timely and secure collection, validation, collation and automatic exchange of data. A self-registration portal is also required to ease adoption for Financial Institutions (FIs) and reduce the administrative burden on the Tax Authority. Given the speed of change in regulation and standards, Competent Authorities need a comprehensive solution that keeps pace with these changes.
Vizor has unrivalled expertise in the new AEOI standards and with over 12 jurisdictions as customers, we have widest project experience in implementing a technical solution for AEOI. The solution is fully implemented in 6 weeks based on a proven software product and a standard implementation process. The high level of automation and back-end processing in the Vizor solution unburdens the Tax Authority personnel of the administration overhead associated with AEOI.