Strategizing International Tax Best Practices – by Keith Brockman

Effective July 1, 2020, regular payments subject to withholding, and fulfilling tax treaty requirements, will be subject to paying the withholding taxes and filing for a refund, which is estimated to be a 6-month lag.

Exceptions would be approval by the tax administration, also a 6-month process, or assertion by the board of directors that all requirements have been met which is subject to personal liability and therefore a personal deterrent.

As other countries generally follow such trends, will COVID-19 prompt such actions to preserve final cash flow?

EY’s Alert provides additional details on this development.

https://taxnews.ey.com/news/2020-1072-poland-to-impose-withholding-tax-on-cross-border-payments-as-of-1-july-2020

 

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