I thought the US IRS’s 8 page W-8BEN-E monstrosity would take some beating but this from Portugal is a contender. If I don’t fill it in correctly (in triplicate) and get it signed by ‘tax authorities’ they will deduct 25% witholding tax.
Anyone have a clue
- How to fill this out (for a UK based organisation not an individual)?
- If its necessary for product sales? (looks like its for to dividends and personal services would need reference to documentation showing that)
HMRC (our IRS) hasn’t a damn clue what its all about, accountant neither, Small Business Federation has never heard of it. Payment processor is ‘huh?’. Even mighty Google has very little.
Grrr - I thought avoiding this sort of nonsense was one of the benefits of being in the EU! Any future sales to Portugal will get a +25% ‘administration fee’ added right from the get go.