Abstract
Non-qualified intermediaries (NQIs) are by far the most common type of financial institutions receiving US-sourced income. There are only about 5000 qualified intermediaries (QIs); every other financial institution is an NQI. NQIs are also deemed by the US to be facilitators of tax evasion, which means that they are more rigorous disclosure obligations and risk of higher penalties for non-compliance. This chapter explains the most common issues faced by NQIs and also by QIs with NQI clients.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsAuthor information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
McGill, R. (2019). Issues for Non-qualified Intermediaries. In: US Withholding Tax. Global Financial Markets. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-23085-2_8
Download citation
DOI: https://doi.org/10.1007/978-3-030-23085-2_8
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-23084-5
Online ISBN: 978-3-030-23085-2
eBook Packages: Economics and FinanceEconomics and Finance (R0)