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UBS or Morgan Stanley as Employee Stock Provider - Tax File

edited Sep 5, 2020 12:33AM in Payroll and Global Payroll Interface (GPI) 2 comments

Summary

Unlike most other Employee Stock Providers, UBS and Morgan Stanley do not calculate taxes on vested shares. How are others preparing the tax file?

Content

UBS is responsible for the administration of our stock plan.  UBS requires a Tax file to be sent daily.  The Tax file provides tax rates for each municipality in which the employee is required to pay tax.  The data being sent pertains to taxes applicable to Supplemental Earnings. 

Currently we cannot access the Vertex tables on the Oracle database.  This is an issue as tax rate data is stored in these tables and we need to send tax rate data in this integration.  A SR was opened and Oracle confirmed that we cannot gain access to the tables.  Vertex was approached and confirmed we cannot access the table. The potential workaround for the storing and ongoing maintaining of the tax rate data is to create a UDT (User Defined Table) that will store the tax rate data.  

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