Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 397

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 10
Chunk 397
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-U. S. Holder, as well as the amount of any distribution exceeding our company’s cumulative net income, generally would be subject to the 10% U. S. federal withholding tax under Section 1446(f) of the U. S. Internal Revenue Code.

In general, even if our company is not engaged in a U. S. trade or business, and assuming you are not otherwise engaged in a U. S. trade or business, you will nonetheless be subject to a withholding tax of 30% on the gross amount of certain U. S.-source income which is not effectively connected with a U. S. trade or business. Income subjected to such a flat tax rate is income of a fixed or determinable annual or periodic nature, including dividends and certain interest income. Such withholding tax may be reduced or eliminated with respect to certain types of income under an applicable income tax treaty between the United States and your country of residence or under the “portfolio interest” rules or other provisions of the U. S. Internal Revenue Code, provided that you properly certify your eligibility for such treatment. Notwithstanding the foregoing, and although each Non-U. S. Holder is required to provide us with an IRS Form W-8, we nevertheless may be unable to accurately or timely determine the tax status of our investors for purposes of establishing whether reduced rates of withholding apply to some or all of our investors. In such a case, your allocable share of distributions of U. S.-source dividend and interest income will be subject to U. S. withholding tax at a rate of 30%. Further, if you would not be subject to U. S. tax based on your tax status or otherwise were eligible for a reduced rate of U. S. withholding, you might need to take additional steps to receive a credit or refund of any excess withholding tax paid on your account, which could include the filing of a non-resident U. S. income tax return with the IRS. Among other limitations applicable to claiming treaty benefits, if you reside in a treaty jurisdiction that does not treat our company as fiscally transparent, you might not be eligible to receive a refund or credit of excess U. S. withholding taxes paid on your account. In the event you transfer or otherwise dispose of some or all of your units, special rules may apply for purposes of determining whether you or the transferee of such units are subject to U. S. withholding taxes in respect of income allocable to, or distributions made on account of, such units or entitled