Podcast 132: Why are taxes stuck in the paper age?

In this episode, Igor Tomych talks to Roman von der Höh, Managing Director at RAQUEST Switzerland GmbH about the idea of revolutionizing taxes. With all the regulations taking place in the European finance space, it seems like governments are forgetting about the one financial process almost every individual and organization must go through, as part of their technological revolution.

Key Insights from the Conversation #

• Withholding tax systems are outdated: Most tax processes for dividends and interest are still paper based and highly manual, even though digital financial products have advanced significantly.
• Cross-border investing creates rising complexity: More investors are buying assets outside their home countries, which increases the number of tax rules, forms, and country specific procedures that banks must handle.
• Automation is reshaping tax operations: Digital tools now allow banks to run end-to-end tax workflows with lower costs and fewer specialists. This makes tax services scalable and opens new revenue opportunities.
• Regulations are driving modernization: EU FASTER, FATCA, CRS, and new crypto rules push institutions toward fully digital, standardized tax processes. These regulations influence product design and infrastructure decisions.
• Tax efficiency affects market decisions: Where companies list, where fintechs incorporate, and which investment products banks offer are often shaped by tax treatment. With digitalization, tax becomes a strategic factor instead of just compliance.

Why You Should Listen #

This episode explains how withholding tax processes are finally being modernized after years of being slow, manual, and difficult for both banks and investors. You will learn how automation is turning tax from a back office burden into a scalable service that improves customer experience and creates new revenue opportunities. The episode also breaks down major regulations that will reshape the industry, including EU FASTER, FATCA, CRS, and new crypto rules, and shows how tax efficiency influences where companies list, where fintechs incorporate, and how financial products are designed.