Tax & Accounting Blog

Reminder from California BOE – Don’t Forget to Report Your Personal California Use Tax

Reminder from California BOE – Don’t Forget to Report Your Personal California Use Tax

The California Board of Equalization (BOE) is reminding taxpayers to report and pay the use tax they owe on their 2011 personal income tax returns.  To make things easier, they have created a Use Tax Lookup Table, which will estimate the amount of use tax that is owed.  The estimate is based on California Adjusted … Read More

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