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Anonymous Assistant Controller

What are the reporting regulations, if any, for vendors internationally that is similar to W9 and 1099 processing here in US?

Asked on May 9, 2013

What are the reporting regulations, if any, for vendors internationally that is similar to W9 and 1099 processing here in US? I am trying to figure out if we should be doing anything special for vendor set ups and annual reporting for international subsidiaries in Australia, UK, Malaysia, and South Africa. I understand the regulations for her in the US but would love any feedback to assist on international side.

Answers

Len Green Performance Improvement Consultant and ERP Strategist • November 23, 2012

For Australia, UK and SA one key issue around vendor set up is vendor VAT registration (GST in Aus) so that you can obtain input relief on purchases from them. Those countries also require businesses to register so that you have a legal ID (similar to FEIN) and also a 'registered' office address for serving of legal notices.
If you have a local presence in each country, your controller there (and your local accountant/auditor) should be able to help with annual vendor reporting/ compliance.
regards
Len
(born in South Africa, of UK descent, has visited Australia:)