Why all these regulations and these forms?
Any company that makes payments of U.S. sourced income (sales or streams) to a foreign person/entity is responsible for the withholding and reporting of such sales or streams made in the U.S. under U.S. tax code and Regulations. This also goes for any company located in a foreign country paying to U.S and/or a foreign company paying to a country outside of its own.
Companies like iTunes, Beatport, Traxsource also have to abide by these same regulations based on where they are located. Every USA company has to have a W8-BEN on file with a date of birth and/or EIN/ITIN and withhold based on the country where they are located. There is no exception to this rule.
International companies and distributors also have their own tax rules and with Brexit and other complicated changes, there is no way around taxes and no distributor can pay you without any tax implication. If any distributor ever says that tax rules do not apply to them, you should consult your attorney or tax consultants because that is incorrect and could land you in issues.
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Any company that makes payments of U.S. sourced income (sales or streams) to a foreign person/entity is responsible for the withholding and reporting of such sales or streams made in the U.S. under U.S. tax code and Regulations. This also goes for any company located in a foreign country paying to U.S and/or a foreign […]
Read moreNon-US persons (whether individuals or entities, such as foreign corporations) are subject to US. tax at a flat 30% rate on certain kinds of income they receive from US sources. Sometimes an Income Tax Treaty negotiated with the US and another country can be used to reduce this tax rate. Example: If you are based […]
Read morePlease read this to understand how taxes work for clients outside of the USA. * If you don’t have an ITIN or EIN you can put your Date Of Birth when updating the tax detail As per tax regulations, Verse One Distribution will now have to withhold a portion of your royalties and pay it […]
Read moreYou don’t technically need a EIN or ITIN. You can provide your Date of Birth within our system as well as on the W8-BEN and that is sufficient.
Read moreWhether you are in the USA and/or abroad, you are responsible for reporting the royalties you receive from the sale or streaming of your music. This isn’t a rule made by us but it is a government-enforced policy for all territories of the world. Our system logs every payment and sale you make and thus […]
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