New accounting requirements and taxes

A few days before, I got a mail from DT ( and I think, all other contributors got it too), which asked the contributors to comply with certain tax law, and submit certain formats from their countries tax authorities.

© Johnkwan ( Help)

This all seemd too complex for me, and untill now, I have not been able to fully read that mail + refer to all the links that are there.

There was something in that mail, that talked about some 30% tax to be deducted from my sale to a US buyer. It is a very hard earned and slow trickle money that we contributors get from sale here.

© Abpics ( Help)

But, by the time, I have been pondering over it, and postponing the reading + understanding it for "tomorrow" everyday, today I came across a good explanation in a blog at DPS.

It gave quite a good understanding at least of the law behind it.

So, I thought, it would be good to share it with every one here at DT.

Please check the link "New Accounting Requirements for American Phographers"

Specially comments by David Mcree.

Hope, it is useful to every one.

It would be great, if some one can give more insight, how this law will effect those contributors who are not in Amarica.

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September 21, 2010

Melonstone

Useful. Like you, I kept putting it off, until 14 Sept when I suddenly realised DT asked for it by 15th Sept - so I did it and got an email confirming no taxes would be deducted due to UK/US tax treaty. It was quick and painless to do.

September 20, 2010

Jeniicorv8

I actually did mine a couple of days ago. But I have two foreign based friends that I need to remind about this and your blog triggered that thought. Thanks!

September 18, 2010

Physi28

As I see ii, if your residence country, e.g. Spain -my case, has an agreement with USA, you won´t pay 30% but just 5%, you just have to fill the form and send a valid identification scan with it (passport, id card, drivers license), hope this helps, greetings to everybody at DT!

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