Kay, a US citizen, took out a loan from a Paris bank, Credit Agricole, to buy a
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Question:
Kay, a US citizen, took out a loan from a Paris bank, Credit Agricole, to buy a home in Belgium, where she lives and works. She pays $10,000 interest to the bank in Paris for the year. Which of the following is true.
Group of answer choices
Under the Belgium-US treaty Kay must withhold $1,500 in taxes
Under the France-US treaty Kay must withhold $1,500 in taxes.
Kay is not entitled to use either treaty and must withhold $3,000.
The interest is not subject to withholding.
Related Book For
Business Law Text and Exercises
ISBN: 978-1305509603
8th edition
Authors: Roger LeRoy Miller, William E. Hollowell
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