363 > Discussions > Can You Suggest The Whine? Can You Suggest The Whine? All Sections Casa Vinicola Zonnin SA, a Chilean corporation, is engaged in the production of wine in Chile. Zonnin maintains a branch in the US which acts as importer and distributor of the wine it manufactures in Italy. The branch in the US is required to hold a large current cash balance for business purposes, but the amount of the cash balance so required varies because of the fluctuating seasonal nature of the branch's business. During 2020 at a time when large cash balances are not required because of the Covid lockdown, the branch invests the surplus amount in US Treasury bills. Is there withholding on the interest? Search entries or author Unread Subscribe Reply