DAC6 Reporting
Under this service, MAP FinTech receives reportable information, constructs the DAC6 report, validates the report as prescribed by the relevant provisions of DAC6, and submits it on behalf of the client to the relevant competent authorities or returns it to the client for submission.
Challenges
- Extremely complex and vague regulatory requirements
- Complicated multilevel XML files
Risks
- Incorrect completion of DAC6 reporting
- Failure to meet the reporting deadline and overall requirements
- Costly investment in resources to help you file the relevant submissions
- Disruption of your daily operations
Key Features
- Cost-efficient reporting solution provided under a single platform
- Scalable solution that can report as many transactions as you have
- Template provision in simple form for reporting the necessary information
- Multiple reporting health checks (validations) for both content and schema
- Automatic conversion of data to XML
- Submissions to relevant competent authorities
- On-going communication with regulators to ensure the system reports reflect regulatory updates and changes