Custody tax oversight
Protocol monitors your custodian's withholding tax recovery service to ensure it's working effectively and helps you get the most out of what your custodian offers.
The independent control layer for global withholding tax leakage
Our software platform Protocol reveals unnoticed losses, quantifies their financial impact, and governs recovery outcomes across global investment portfolios — preventing leakage from recurring.
Solution
Our leading solution Protocol
Organized by fund, custody account, year, and investment country, Protocol consolidates all relevant information — income data, reclaims received and outstanding, recovery progress, required actions, and upcoming deadlines — into a single, continuously updated dashboard. It gives institutional investors and asset managers an up-to-date overview of their global withholding tax position every time they log in.
Optimize your
withholding tax recovery
Protocol captures custody tax services gaps and non-custody tax reclaims as they arise, preventing delays or forfeiture. Automated task prioritization and notification helps meet dealines and boosts withholding tax recovery.
Operational
excellence and efficiency
Protocol automates custody tax data validation and reconciliation, and streamlines workflows — replacing manual spreadsheet analysis and reducing time spent on withholding tax recovery.
Comprehensive
oversight and control
All custody tax data is continuously validated and consolidated in a single source of truth. Monitor recovery progress, track every reclaim, and access the full history of your global withholding tax position whenever you need it.
Services
Custody tax oversight and global withholding tax reclaim
A comprehensive withholding tax recovery strategy has two components: ensuring your custodian's recovery service is performing as it should, and pursuing the reclaim opportunities your custodian does not cover. We help institutional investors and asset managers with both, powered by Protocol.
Global withholding tax reclaim
Protocol identifies the non-standard withholding tax opportunities that fall outside the scope of your custodian's service offering.
Insights
Show all insights Practical global withholding tax insights
Stay updated on global withholding tax changes, rates, treaties, reclaim opportunities, and case law.
JUNE 12, 2026 • 6 minute read
What Delegated Regulation (EU) 2026/110 Actually Says About FASTER's Reach
Delegated Regulation (EU) 2026/110 has resolved the critical open question in the FASTER Directive: which EU member states must operate under the new fast-track withholding tax framework, and which can stay outside it. The answer will define the operational landscape for institutional investors and custodians from 1 January 2030 onwards.
Tax news
JUNE 10, 2026 • 3 minute read
Dutch Dividend Withholding Tax Refund for Unit-Linked Insurers: Court of Appeal 's-Hertogenbosch
The Court of Appeal of 's-Hertogenbosch has ordered the Dutch tax authorities to refund approximately €53.8 million in dividend withholding tax to a UK-resident unit-linked insurer, ruling that EU free movement of capital principles override the domestic treatment that left the insurer bearing a 15% withholding tax that a comparable Dutch company would never have paid. The decision clarifies the beneficial ownership analysis for unit-linked structures and sets out the conditions under which foreign insurers can pursue similar refund claims.
Tax news
JUNE 10, 2026 • 4 minute read
Italy's 1.2% Dividend WHT Reclaim Window Is Closing for Non-Resident Investors
Italian courts have now confirmed that non-resident corporate investors can reclaim Italian dividend withholding tax where it exceeded the 1.2% effective burden available to comparable Italian companies. With the 48-month limitation period running, claims for 2022 dividends are expiring during 2026.
Tax news
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