GlobeTax Adds 71 Markets to Tax Reference Data Product

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GlobeTax today announced a major scaling up in the data provided in its online market reference data product "e-TaxData Online". Ross K. McGill, Director of Marketing at GlobeTax, said, "We already have over 104,000 data points in our data base covering 91 markets, 227 residencies and six years of history. With today's migration of new data we are adding another 74 markets of issue."

GlobeTax today announced a major scaling up in the data provided in its online market reference data product "e-TaxData Online".

Ross K. McGill, Director of Marketing at GlobeTax, said, "We already have over 104,000 data points in our data base covering 91 markets, 227 residencies and six years of history. With today's migration of new data we are adding another 74 markets of issue."

Equities and fixed income instruments held cross border generally have a high statutory withholding tax deducted in the country of issue. However, if a double tax treaty exists between the issuing country and that of the ultimate recipient's residency, there may be an entitlement to recover some of this "over-withheld" tax. Research indicates that there could be close to a trillion dollars of recoverable tax in the market at any one time, of which, only a small proportion ever finds its way back to its rightful owners.

McGill explains, "In an industry where investors are increasingly aware, educated and active, best practice dictates that custodians need good quality research from multiple independent sources to make sure that tax rates are correctly interpreted and applied, so that relief at source applications or reclaims, the two main tax optimization tools available, are filed wherever possible. For the investment management community, access to the same type of data enables fund managers to check their statements. We don't seek to be the sole source of withholding tax market reference data," explains McGill, "but given the scale and credibility of our data and the volume processing on which its based, we do expect to be in the top three of everyone's market reference data resource list by the end of 2007."

e-TaxData Online was launched in February 2005 as an online data research and analysis tool for custodians as well as the fund and investment management community. Subscribers have access to GlobeTax's withholding tax rate data, used by the firm to support its global tax reclaim services where it files over a million reclaims a year for its clients.

The data portion of the product includes statutory rates for dividends, treaty rates as well as market notes, statutes of limitations and indicative recovery times for those markets which have a reclaim process. Len A. Lipton, VP of Marketing, said, "We are already working on the next set of enhancements which includes adding fixed income data, more extensive notes and market update features."

Africa

Benin Botswana Burkina Faso

Cameroon Central African Republic Congo Brazzaville

Eritrea Ethiopia Gabon

Gambia Ghana Guinea

Ivory Coast Kenya Lesotho

Liberia Madagascar Malawi

Mali Mauritania Mozambique

Namibia Niger Senegal

Sierra Leone Sudan Swaziland

Tanzania Togo Uganda

Asia/Pacific

American Samoa Bhutan Brunei

Cambodia Cook Island East Timor

French Polynesia Guam Honk Kong

Kiribati Laos Marshall Islands

Micronesia Nauru New Caledonia

Niue Northern Mariana Ils Palau

Papua New Guinea Samoa Solomon Islands

Tonga Tuvalu Wallis and FutunaVanuatu

Caribbean

Antigua and Barbuda Barbados British Virgin Islands

Netherland Antilles St. Kitts - Nevis Trinidad and Tobago

South America

Bolivia Guyana Peru Surinam Uruguay

North America

Panama

Europe

Jersey Liechtenstein

Middle East

Oman Qatar Yemen

GlobeTax Data Services Incorporated

90 Broad Street, New York, NY, USA 10004 | Tel (212) 747 9100 | Fax (212) 747 0029

78 Cannon Street, London, England EC4N 6NQ | Tel +44 (0) 207 618 6692 | Fax +44 (0) 207 618 8001

GlobeTax.com

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Julie Funicella
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