Multi Data Exchange Solution (MDES)

There is a global increase in the demand for public resources. More than ever countries are focusing on effective collection of taxes and social security contributions to cover their growing costs. The introduction of new automated systems to increase efficiency of tax administration is often considered the most attractive alternative to increase public revenues.

For tax administrations one of the challenges of the 21st century is that a globalized world is hard to keep track of. Often the local sources of data available to tax officials will not give insights into the cross-border activities of taxpayers. To overcome this obstacle, 160+ countries have joint efforts in tackling offshore tax evasion by exchanging financial information on taxpayers. This unprecedented collaboration between countries identified more than €100 billion of additional tax revenues worldwide.

With its Multi Data Exchange Solution (MDES), Blyce became one of the global leaders in software to support this cycle of exchanges between jurisdictions.

Thousands of financial institutions and multinational corporations worldwide use the MDES online portal to report financial information to their national authorities. The system automatically validates these reports and offers a user-friendly interface for the reporting entities. Once received, the data is automatically consolidated and files are prepared to exchange with the corresponding jurisdiction. Needless to say, the confidentiality and data safeguards required for this process are of the highest standards.

Blyce’s team has successfully implemented the software in 10+ countries. From delivering the software and all related services in Spanish for Peru to assisting compliance officers of banks in Ghana, the common denominator has always been a high level of service as evidenced by the client satisfaction surveys of MDES-users.