WTax And First Rate Partner To Enhance Withholding Tax Infrastructure For Investors

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WTax And First Rate Partner To Enhance Withholding Tax Infrastructure For Investors

First Rate Team • February 02, 2023

As a part of its strategy to enhance service offerings to its clients, First Rate has partnered with a leading withholding tax specialist to recover reclaimable taxes.

Arlington, TX – February 02, 2023First Rate, a leading wealthtech service provider to the wealth management industry, today announced their partnership with WTax, the leading withholding tax (WHT) specialist that provides wholly outsourced WHT recovery solutions.

Through its work and experience with 5,000+ investors, WTax consistently identifies a lack of awareness about the opportunity of reclaiming foreign WHT. Inherent difficulties with the recovery process and the absence of sophisticated and accurate WHT reporting continue to contribute to this issue, and as a result, private investors are foregoing the opportunity to boost investment returns. Moreover, WTax’s success-based fee model guarantees that there are no upfront costs and that investors always remain in a net-gain position.

This partnership is instrumental in helping First Rate resolve this issue for their client base and provide the wealth management firms and institutional investors they serve with the ability to ensure all reclaimable taxes are pursued and maximizing dividend and interest yields.

“Partnering with a forward-thinking firm like WTax will provide our clients with a streamlined solution for reclaiming withheld taxes.”, said Alex Serman, Managing Director of First Rate Wealth, “We’re excited to explore opportunities in the Wealthtech space to create value for investors such as this.”

First Rate clients that choose to benefit from this partnership and use this new service offering, will provide their client performance data to WTax securely and efficiently. WTax will then provide an in-depth analysis of a wealth management firm’s WHT (Withheld Tax) position, highlighting the amount of value expected to be recovered in advance of claims processing.

“We are thrilled to begin collaboration with such an experienced and innovative organization.”, said Sarah Osato, Head of Partnerships at WTax, “I am certain that the sharing of resources, knowledge, and expertise will be pivotal in providing wealth managers with a technologically-advanced tax recovery process, digitizing what has previously been an arduous, paper-based process, and maximizing investment performance for investors.”

For further information on how to implement this new service offering please contact us today.

About First Rate

First Rate exists to help wealth management companies grow and thrive as stewards of their clients’ investments. Our innovative services and solutions help financial firms create absolute transparency, enhance efficiency, and empower advisors to create more meaningful and intelligent investment strategies for their clients. It’s technology as it should be. First Rate’s flexible and intelligent solutions adapt to the evolving demands and complex challenges of the wealth management industry. With a proven track record including more than 30 years of experience, our relentless focus on meeting the diverse needs of our partners is unmatched in the industry.

Through data aggregation, performance calculation, client reporting, and intelligent data analytics backed by a powerful AI engine, our innovative technologies enable wealth managers to grow their business by enhancing efficiency and providing strategic value to investors.

Contact: Alex Serman, CIPM – Managing Director, First Rate Wealth | 817.525.1823 |


Follow us: @FirstRatePerf

About WTax

WTax is a division of the VAT IT Group, the largest indirect tax recovery firm in the world. Our global presence and industry-leading technology ensure that our clients receive the maximum withholding tax recovery in the shortest possible time.

Through our global network, we help over 10,000 clients around the world. From small businesses to multinational corporations, WTax provides personalised withholding tax recovery services to every client.

Contact: Sarah Osato – Head of Partnerships | +44 7551 365855|

Website: wtax.coWTax And First Rate Partner To Enhance Withholding Tax Infrastructure For Investors