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Invoice from Cayman Islands company
August 17, 2023
Q. We have an invoice from a trust company in Cayman Islands. The beneficiary bank is also in the Cayman Islands, with an intermediary bank in New York. Should I request a W-8 from this vendor before we pay the invoice? If so, which W-8 should I request? Anything special I should know or ask?
A.
(Answered by IOFM's third-party tax experts)
You cannot be certain which form in the W-8 series is appropriate until you obtain further information. The compliance objective is to identify the…
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