266. U.S. Withholding Tax - IRS Issues Final QI Audit Guidelines.

Mondaq Business Briefing, November, 2002 by Hans-Dieter Wolf

by Hans-Dieter Wolf, KPMG Dusseldorf, and Chip K. Collins, KPMG National Office Washington, D.C.

An abridged version of this article appeared in

International Tax Review, November 2002 at page 23

1. Q1 Audit Guidelines - Rev. Proc. 2002-55

2. Central features of the QI withholding tax regime

2.1 U.S. withholding on investment income

2.2 Old withholding regime in general

2.3 New withholding regime

2.4 Trade-offs of QI status

2.5 Success of QI system

2.6 Beneficial owner

2.7 Presumption rules

2.8 External audit of QI compliance

3. QI audit guidelines

3.1 External audit of QI compliance

3.2 Highlights of final audit guidelines...