BearingPoint Caribbean, a world leader in software for automated exchange of information (AEOI) for competent authorities, is pleased to announce the contract awarded by the Ghana Revenue Authority (GRA) for the Multi Data Exchange Solution (MDES).
The MDES is a proven solution that enables competent authorities to effectively and successfully meet their reporting commitments under international Base Erosion Profit Shifting (BEPS) regulations. The technology consists of a user-friendly online portal to streamline reporting by Financial Institutions (FI’s) and Multinationals (MNE’s), validation, filing for compliance with international treaties and agreements, and data exchange and communication with other jurisdictions. MDES supports the Common Reporting Standard (CRS), the U.S. Foreign Account Tax and Compliance Act (FATCA), Country-by-Country (CbC) Reporting, and Exchange of Information on Request (EOIR). It is a highly secure solution (including optional SIEM to enhance Cyber Security) for end-to-end automation, eliminating manual filing and therefore greatly improving process efficiencies for tax authorities.
Ghana is set to start CRS reporting and the Exchange of Information on Request (EOIR) in the second half of 2019. Implementation of the solution is planned to take about six weeks. BearingPoint Caribbean will provide full-service support to the Ghana Revenue Authority which includes on-site implementation and training, extensive helpdesk support as well as organizational assistance.
Ghana is BearingPoint Caribbean’s first client on the African continent. The Multi Data Exchange Solution has been implemented in many other countries, including but not limited to Peru, Samoa, Aruba, Curaçao, Marshall Islands, Vanuatu, and Greenland. BearingPoint Caribbean is awaiting cabinet approvals in many more countries for its AEOI and EOIR solution.
BearingPoint Caribbean develops software solutions for tax administrations and social security organizations around the world. The MDES module for AEOI is a key part of our total government software portfolio (Public Services Platform).
Find out more about our MDES software here