Tax & Accounting Blog

Withholding on U.S. Business Income of Foreign Vendors – Part 3: Effectively Connected Income Not Exempt from Withholding

Withholding on U.S. Business Income of Foreign Vendors – Part 3: Effectively Connected Income Not Exempt from Withholding

Non-U.S. individuals may use Form W-8ECI for their Effectively Connected Income (ECI), such as rents from U.S. real property for which the beneficial owner elected ECI treatment on Form 1040NR. Non-U.S. individuals are restricted by the regulations from using Form W-8ECI for their compensation for personal services performed in the U.S. (This restriction is indicated in the … Read More

Netherlands Pondering an Increase to The Reduced VAT Rate

Netherlands Pondering an Increase to The Reduced VAT Rate

Dutch Junior Finance Minister Frans Weekers is researching the effects of increasing the country’s reduced rate of value added tax from the current 6% to 8%. The reduced rate is applied to food, hairdressers, plasterers, newspapers and the floral industry. Minister Weekers proposed a similar increase last year which was met with strong protests.   Source:Read More

Helping to Foster Developments in NJ Tax Departments

Helping to Foster Developments in NJ Tax Departments

The TEI NJ Chapter recently brought together close to 200 tax professionals to discuss industry trends and developments in federal, state, and international tax.  John Kuchinski from KPMG discussed the daily challenges that tax professionals face around data and legal entity information.  The career of a tax professional is an extremely tough job … Read More