Unique to pControl is it's tax rule framework purpose built to manage tax business rules across multiple fund jurisdictions. Combined with pControl's single record Fund Ledger, this allows clients to manage a wide variety or jurisdictional requirements on a single platform.

The pControl approach overcomes the traditional constraints typical of tax platforms that are designed from a single jurisdiction only.

pControl's rules and calculation engine provides flexibility and ease of implementation of taxation and legislative changes in conjunction with configurable tax category allocations, and configurable apportionment and offsetting processes.  This allows new market legislation or client or fund specific tax treatments to be easily accommodated.

Tax Jurisdictions

The following table outlines examples of pControl's solution implementations across various tax jurisdictions.

Jurisdiction  Solution Processing
Australia Income Distributions Periodic Calculations
Capital & Income Pricing
Tax Expense Daily Unit Pricing
(including DTA and DTL)
Canada Income Distributions Periodic Calculations
New Zealand Tax Expense on Portfolio Investment Entity (PIE) Daily Unit Pricing
(including DTA/DTL and Gain/Loss Calculations on Parcel Lots)
South Africa Income Distributions Periodic Calculations
United Kingdom Box Management and Gain / Loss Management Gain/Loss Calculations on Long/Short Parcel Lots
United States Tax Expense and Income Distributions U.S. Mutual Fund Tax Excise and Fiscal IRS Tax Filings

Tax Treatments

Flexibility to configure jurisdictional specific calculations and reporting, including:

  • Carried forward income or tax losses
  • Capital losses allocated to capital gains
  • Unrealized capital loss allocation to unrealized capital gains
  • Determination of deductible or distributable foreign withholding tax credits

User defined allocation of attributes to tax category including:

  • Association of related income and withholding tax categories
  • Allocation of tax source
  • Allocation priority of expenses to income
  • Allocation priority of capital losses to realized capital gains
  • Treatment of withholding tax for distribution
  • Loss reallocation
  • Jurisdictional or fund specific allocations

Extensibility

pControl's tax rule framework supports Income Distributions and Tax Expense and is integrated with it's Fund Accounting functions utilizing pControl's single record Fund Ledger processing, Gain / Loss Management and Account Views functionality.