Re: the cost of untracability?

At 03:36 PM 4/8/96 -0400, Black Unicorn wrote:

In addition, to prevent funds from being removed to non-resident aliens or foreign entities where tax enforcement and collection is difficult, there is a 30% withholding requirement in the event the payee is not a U.S. citizen or resident (for tax purposes).

The withholding tax applies only if the payee is not a resident of a jurisdiction with a tax treaty with the US. Net banking will further muddy the waters on this because of the difficulty of telling the residency of customers particularly in the case of accounts transferred to third parties for profit -- a worthwhile future business activity. DCF