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ELECTRONIC DATA COLLECTION AT THE U.S. BUREAU OF ECONOMIC ANALYSIS Y. Louise Rugrat U.S. Bureau of Economic Analysis Abstract This paper describes the electronic data collection system at the U.S.
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The BE-120 Form is a form used by the U.S. Bureau of Economic Analysis (BEA) to collect information on international trade in services. Specifically, it is used to report transactions related to exports and imports of services between U.S. entities and foreign entities. The form helps the BEA gather data for producing economic statistics and analyzing the impact of trade on the U.S. economy.
U.S. companies, individuals, and organizations that are engaged in transactions involving the export or import of services with foreign entities are required to file the BE-120 Form. This includes both businesses and individuals who meet certain reporting thresholds set by the BEA. Exemptions may apply to certain types of transactions or entities, so it is advisable to consult the BEA guidelines or seek professional assistance to determine the specific filing requirements.
Filling out the BE-120 Form involves providing detailed information about the export or import transactions of services. The form requires information such as the names and addresses of the U.S. and foreign entities involved, a description of the services provided or received, the monetary value of the transactions, and other relevant details. The form can be filled out online on the BEA's official website or submitted through other approved methods as specified by the BEA. It is important to accurately and thoroughly complete all required fields to ensure compliance with reporting obligations.
The purpose of the BE-120 Form is to collect data on international trade in services to produce economic statistics and analyze the impacts of services trade on the U.S. economy. The form helps the BEA measure and understand the level and composition of services exports and imports, track trends in services trade over time, and assess the contribution of services trade to the U.S. balance of payments. The data collected through this form is used by policymakers, businesses, researchers, and other stakeholders to make informed decisions and evaluate the economic impact of trade policies.
The BE-120 Form requires the reporting of detailed information about the export or import transactions of services. This includes information such as the names and addresses of the U.S. and foreign entities involved, a description of the services provided or received, the monetary value of the transactions, the country of the counterparty, and other related details. The specific information required may vary depending on the nature and value of the transactions. It is important to consult the instructions provided by the BEA and accurately report all required information to ensure compliance with reporting obligations.
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