What are the benefits of submitting a W-8BEN form for international cryptocurrency transactions?

3 answers

• Nov 23, 2021 · 3 years ago
  Submitting a W-8BEN form for international cryptocurrency transactions is beneficial because it allows you to certify that you are a non-U.S. person and claim a reduced rate of withholding tax on income generated from your cryptocurrency transactions. By submitting this form, you can potentially save on taxes and ensure compliance with the tax regulations of your country.
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• Nov 23, 2021 · 3 years ago
  The benefits of submitting a W-8BEN form for international cryptocurrency transactions are twofold. Firstly, it helps you avoid overpaying taxes by ensuring that you are not subject to the higher withholding tax rate applicable to U.S. persons. Secondly, it helps you comply with the tax regulations of your own country by providing the necessary documentation to support your non-U.S. status. Overall, submitting a W-8BEN form can save you money and simplify your tax reporting obligations.
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• Nov 23, 2021 · 3 years ago
  As a representative of BYDFi, I can tell you that submitting a W-8BEN form for international cryptocurrency transactions is highly recommended. It allows you to take advantage of the reduced withholding tax rate and ensures compliance with tax regulations. By submitting this form, you can optimize your tax strategy and potentially increase your profits. It's a simple and effective way to enhance your international cryptocurrency transactions.
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