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Cloud-based software developed by a foreign company
March 6, 2023
Q. We have a vendor that provided software for our company for period June 2022-June 2023 (to be renewed every year) They are a Canadian company but are not onsite for any services. I looked through "Factors Demonstrating Classification as Provision of Services" and almost all are met by this vendor. Would I be correct in classifying this as a non-US based service and NOT issue a 1042?
A.
(Answered by IOFM's third-party tax experts)
If there's no download into your company's equipment here in…
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