In 2022 ECNMX is launching the world’s first rights collecting agency for gamers and other digital content creators.
Our special status with the US tax authorities allows us to collect monies on behalf of our non-US clients and take responsibility for the withholding tax obligations, should there be any.
The vast majority of our clients carry out their work outside of the US and live in countries that have a double taxation agreement with the US (e.g. UK, Sweden, Denmark, Norway, Finland, Switzerland, Russia) which means that most of them are exempt from US tax since they are already paying tax in their own home countries.
Unfortunately, US companies withhold 30% from the clients’ gross income regardless and, in order to recover that 30%, clients have to wait until the following year to file a US tax return and up to 6 months after that for a refund to be issued, which is usually done by cheque. This long and costly process has only been made worse by the pandemic.
By using our services ECNMX clients will no longer be required to suffer 30% withholding tax on their US earnings and no longer be required to file US tax returns.
We will collect our clients' monies in full and distribute back to them without any US tax deductions, while ensuring all the work is done in the background so that they are fully compliant with their US tax exemptions.
We can also carry out debt collection on behalf of our non-US gaming clients who are owed monies by US companies.
We are developing a digital platform to be launched later this year that will allow clients to view their accounts with us and keep track of their income and tax reporting.
In the meantime, feel free to contact us on the link below to get started.