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  • Announcement from the Chairman

    I am delighted to announce that TConsult has opened its first branch outside the UK, in Malta. The UK parent […]Read more

  • QI Status – Is It Really Worth It?

    It’s an age-old question for financial institutions. Should you become a QI, or stay an NQI? This is a decision […]Read more

  • Operational Issues for QIs and NQIs

    The IRS has just published the very first list of qualified intermediaries and there are some interesting implications for clients […]Read more

  • de-pooling data

    Non-Pooling and De-Pooling – What’s The Difference, And What’s The Problem?

    For qualified intermediaries (or QIs), pooling is an important feature of the US tax system that they should be taking […]Read more

  • compliance academy

    Introducing the Tax Compliance Toolkit Training Academy

    Over the years all our experts and specialists have talked about barriers to effective tax compliance. What stops institutions being […]Read more

  • Maltese flag

    The Problem For Maltese Residents Investing In The US

    According to the IRS QI List, recently published, there are 17 Qualified Intermediaries (QIs) in Malta, mainly comprising of the […]Read more

  • The Challenge of Client Onboarding: Integrating KYC & Tax Documentation

    Welcome to a very special post! A few weeks ago, TConsult chairman Ross had the opportunity to speak with Remonda […]Read more

  • Understanding Your Obligations Under CRS

    CRS, or the Common Reporting Standard, is a key part of the OECD’s Automatic Exchange of Information Framework, otherwise known […]Read more

  • Things To Do In August – Your Tax Checklist

    In the Northern Hemisphere, August is most commonly known as ‘summer holidays’. Many of us are going on vacation, enjoying […]Read more

  • 八月要做的事 – 您的稅務清單

    在北半球,八月通常被稱為「暑假」。我們許多人都會去度假、享受陽光和充分的休息。但南半球的人則處於冬季之中,仍然非常忙碌。可悲的是,度假並不代表法規也會讓您放假 – 期限就是期限,如果您因為員工放假而錯過截止日,那麼您將無法獲得任何幫助。 因此,如果您想保持領先,以下是您在八月份需要做的事情。 準備您的美國報稅表 信不信由您,現在是時候開始準備1042表單的美國報稅表了。大多數QI和NQI早在一月或二月就已申請展延,這表示您的展延截止日期將會在9月14日。但等到最後一分鐘才準備妥當,絕對不是一個好主意。 您的1042表將需要與您自己所有的1042-S和您提交的任何修訂,還有您從交易對手收到的上游1042-S的總和進行比對。如果您是非預扣式QI,您不需要填寫方格1-59,這可以讓您鬆口氣!相對地,您只需要將總數填入方格59和60。但如果您是預扣式QI,則需要填寫方格1-59。但請記住,每個方格中的金額應與納稅義務期間相符,而不一定與您向美國財政部繳納時的時間相符。 別擔心,這並不像聽起來那麼可怕!感謝新成立的合格與授權中介機構協會(Association of Qualified and Authorised Intermediaries, AQAI)的努力,您今年的1042表不需要電子化。它仍然可以用紙本來完成 – 您只需要確保您得到正確的地址,並且非常確定您以掛號方式寄送。如果IRS說他們沒有收到(這已經發生過好幾次),您就需要能夠證明寄送的情況以避免問題。這可能而且確實讓不少公司陷入困境。 我們最近遇到一家微型QI公司,他們無法證明自己寄出1042表單。IRS拒絕收件,然後又拒絕了他們定期審查豁免的請求。所以現在他們有6個月的時間完成定期審查並做認證。這都是因為他們沒有郵資證明!這是一個如此簡單的錯誤,但對於微型QI來說,成本加起來很容易就超過他們徵收的稅款。 還有一點關於1042報稅表的注意事項。如果有人幫您準備1042,而且他們已獲得報酬,那麼他們將需要有IRS核發的PTIN,而且必須顯示在1042表第一頁的下方。 準備W-8更新 您需要做的另一件大事是開始計劃更新所有到期的W-8。大多數公司都知道,這些表格的有效期為三年,從簽署的那年年底算起。這表示所有在2021年簽署的W-8將於2024年12月31日到期。如果您像許多公司一樣,使用這些W-8來收集FATCA狀態和租稅協定優惠申請,那麼更新程序就非常重要,並可能佔用大量資源。尤其是,如果W-8申報了協定優惠,而客戶沒有續期,您就需要將他們的稅率從較低的協定稅率變更為法定的30%。對於QI而言,這需要將他們的資產轉入不同的稅率池帳戶,這對您來說並不理想。您的客戶可能也會相當不高興!因此,如果您打算在9月進行更新,您最好在8月之前就制定好計劃。 […]Read more