coding-schemes.fpml.withholding-tax-reason-1-0.xml Maven / Gradle / Ivy

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Rune Testing is a java library that is utilised by Rosetta Code Generators and models expressed in the Rosetta DSL.
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<?xml version="1.0" encoding="UTF-8"?>
<gcl:CodeList xmlns:gcl="http://xml.genericode.org/2004/ns/CodeList/0.2/" xmlns:doc="http://www.fpml.org/coding-scheme/documentation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://xml.genericode.org/2004/ns/CodeList/0.2/ CodeList.xsd">
   <Annotation>
      <Description>
         <doc:definition>A list of reasons for withholding tax being applied to a cash
			flow.</doc:definition>
         <doc:publicationDate>2015-07-15</doc:publicationDate>
      </Description>
   </Annotation>
   <Identification>
      <ShortName>withholdingTaxReasonScheme</ShortName>
      <Version>1-0</Version>
      <CanonicalUri>http://www.fpml.org/coding-scheme/withholding-tax-reason</CanonicalUri>
      <CanonicalVersionUri>http://www.fpml.org/coding-scheme/withholding-tax-reason-1-0</CanonicalVersionUri>
      <LocationUri>http://www.fpml.org/coding-scheme/withholding-tax-reason-1-0.xml</LocationUri>
   </Identification>
   <ColumnSet>
      <Column Id="Code" Use="required">
         <ShortName>Code</ShortName>
         <Data Type="token">
            <Parameter ShortName="maxLength">63</Parameter>
         </Data>
      </Column>
      <Column Id="Source" Use="optional">
         <ShortName>Source</ShortName>
         <Data Type="string"/>
      </Column>
      <Column Id="Description" Use="optional">
         <ShortName>Description</ShortName>
         <Data Type="string"/>
      </Column>
      <Key Id="PrimaryKey">
         <ShortName>key</ShortName>
         <ColumnRef Ref="Code"/>
      </Key>
   </ColumnSet>
   <SimpleCodeList>
      <Row>
         <Value>
            <SimpleValue>Back-UpWithholding</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>FpML</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>Tax that is levied on investment income, at an established tax rate, as
					the investor/lender withdraws it. Backup withholding helps to ensure that
					government tax-collecting agencies (such as the IRS or Canada Revenue Agency)
					will be able to receive income taxes owed to them from investors' earnings.
					Backup withholding may be applied when an investor has not met rules regarding
					taxpayer identification numbers (TIN). At the time the investor withdraws his or
					her investment income, the amount mandated by the backup withholding tax is
					remitted to the government, providing the tax-collecting body with the required
					funds immediately, but leaving the investor with less short-term cash
					flow.</SimpleValue>
         </Value>
      </Row>
      <Row>
         <Value>
            <SimpleValue>Chapter3</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>FpML</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>Chapter 3 withhholding tax applies at a rate of 30% (subject to reduction
					by treaty) to all payments of fixed or determinable annual or periodical
					("FDAP") income.</SimpleValue>
         </Value>
      </Row>
      <Row>
         <Value>
            <SimpleValue>FATCA</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>FpML</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>Chapter 4 withholding tax, Foreign Account Tax Compliance Act ("FATCA"),
					effective July 2014, imposes a 30% withholding tax on payments to foreign
					financial institutions that do not participate in the FATCA scheme as
					implemented in the U.S. or their home jurisdiction, as the case may be. Chapter
					4 withholding tax is not subject to reduction by treaty and the portfolio
					interest exemption is not applicable.</SimpleValue>
         </Value>
      </Row>
      <Row>
         <Value>
            <SimpleValue>NonResidentAlien</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>FpML</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>An alien is any individual who is not a U.S. citizen or U.S. national. A
					nonresident alien is an alien who has not passed the green card test or the
					substantial presence test. </SimpleValue>
         </Value>
      </Row>
      <Row>
         <Value>
            <SimpleValue>Other</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>FpML</SimpleValue>
         </Value>
         <Value>
            <SimpleValue>Other tax withholding reason.</SimpleValue>
         </Value>
      </Row>
   </SimpleCodeList>
</gcl:CodeList>