BNP PARIBAS - Managing taxation on financial incomes
"The introduction of Tax€ involved a definite rationalization of our work, allowing us to analyse our clients' needs better and faster, to provide them with well-targeted reporting systems, and to be more prompt and precise in communications."

Dario Resnati, IT Manager, BNP Paribas Securities Services Italia

Company: BNP PARIBAS
Sector: Finance
Project: Managing taxation on financial incomes and producing detailed reporting systems to clients' requirements
Solution: TAX€ - System developed ad hoc based on Microsoft.NET technology using agile methods

CONTEXT: TAXATION OF FINANCIAL INCOMES

Financial income taxation is extremely complex: not only are there a lot of obligations to be fulfilled with regard to the Ministry of Finance, but there are also different rules for each financial instrument, and also according to type of investor. BNP Paribas needed to manage heterogeneous financial instruments without impacting on ongoing operational procedures. At the same time, BNP Paribas had to analyze their client's needs more quickly and supply them with well-targeted reporting.

INTERVENTION

Considering the complex background of Italian tax law, BNP Paribas decided to create a customized system able to ensure a more complete information cover of the client portfolio. The system created - TAX€ - guarantees a calculation system for taxation on profits, with high levels of efficiency and integration of heterogeneous data sources. It is an essential device for supporting financial institutions, company and investment fund managers, with services able to cover the entire management cycle for financial instruments. The added value of TAX€ is the ability to make each passage in calculating taxation even more transparent and comprehensible for the user, bringing clearly to light any risk factors and changes in regulations.

 

 

SOLUTION

TAX€ was created by Beta 80 Group together with BNP Paribas using "agile" methods - the innovative software development methods that provide for a strong involvement of the end user. "Agile methods" concentrate on the success of the project through frequent software releases, obtained with practices such as "continuous integration" and automatic testing. The development environment chosen was new generation Microsoft technology, and the application architecture was developed on the Microsoft.NET framework. The information presentation interface makes all the data available through a web application within the intranet portal and is customizable according to the users' needs: security and confidentiality of the data is guaranteed. The results of queries on TAX€ and the relative reports are supplied in real time and can be exported in various file formats.