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Information Reporting and Withholding

Dbriefs Q&A


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On July 24, 2013, Deloitte hosted a Dbriefs webcast entitled, “Information Reporting and Withholding: A Potentially Significant Liability.” Questions received during the webcast are listed in the attachment, along with responses.

Sample question and answer

Question: How does Foreign Account Tax Compliance Act (FATCA) apply to an existing treaty that the U.S. may have with another foreign country?

Answer: FATCA withholding is imposed before NRA withholding. It is a flat 30% if there is a failure to document. If FATCA withholding does not apply, NRA withholding may apply and treaty rates would be applicable.

As used in this document, “Deloitte” means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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