Passthru payments definition

Passthru payments means any withholdable payment and any "foreign passthru payment," which is currently not defined. The current proposed FATCA regulations (“Proposed Regulations”) state that the Internal Revenue Service and the U.S. Treasury have determined, that withholding on “foreign passthru payments” is not required, pending further guidance and analysis. The Proposed Regulations provide that such withholding will not be effective before the date that is two years after the publication of final regulations defining the term “foreign pass-thru payment”.
Sample 1Sample 2Sample 3
Passthru payments means any withholdable payment and any foreign passthru payment. To avoid becoming subject to the 30 per cent. withholding tax on payments to them, we and other foreign financial institutions may be required to report information to the IRS regarding the holders of the Securities and, in the case of holders who (i) fail to provide the relevant information, (ii) are foreign financial institutions who have not agreed to comply with these information reporting requirements, or
Sample 1

Examples of Passthru payments in a sentence

  • Passthru payments attributable to withholdable payments JSDA has been asserting that the basic concept of passthru should be “either withholdable payments or directly traceable to withholdable payments.” The proposed regulations provide that comments are continuously welcomed on simplified calculations of passthru percentage and the safe harbor rule in terms of regulations for passthru payment (Section III of the Preamble).

  • The intention of FATCA to impose the withholding on Passthru payments, was to capture multiple intermediaries leading to the end account holders.

  • Before testing, the functions of the system were analyzed to decide which tasks should be the focus of the evaluation.

  • Passthru payments Participating FFIs will be obligated to withhold on withholdable payments of U.S. source FDAP under section 1471(a) for payments made on or after January 1, 2014, but will not be required to withhold under section 1471(b)(1)(D) with respect to other passthru payments made before January 1, 2015.

  • Passthru payments also include certain non-U.S. source payments known as "foreign passthru payments." FATCA withholding on passthru payments does not begin until 1 January 2019.

  • The responsibilities set out in Part I of Schedule 1 to the Local Authorities (Functions and Responsibilities) (England) Regulations 2000 relating to making a closure order with respect to take away food shop (see Section 4 of the Local Government (Miscellaneous Provisions) Act 1982).

  • Passthru payments are subject to FATCA withholding effective January 1, 2015.

  • Passthru payments Participating FFIs will be obligated to withhold on withholdable payments of U.S. source FDAP under section 1471(a) and section 1472(a) for payments made on or after January 1, 2014, but will not be required to withhold under section 1471(b)(1)(D) with respect to other passthru payments made before January 1, 2015.