To see how ridiculous the new 1099 rule is in the USA, check out these articles. According to CNN, if I buy a computer from Apple, I have to send a 1099 form to Apple.
Health care law's hidden tax change to launch 1099 avalanche - May. 5, 2010
New 1099 Requirements for B2B Transactions - Business Taxes - Entrepreneur.com
This is the first thing that needs to be repealed with ObamaCare. I'm willing to bet that absolutely nothing will be done with the massive number of 1099s.
I thought the Indian government was becoming friendlier to businesses. It looks like the new rules imposed upon PayPal accounts proves otherwise.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." -- Benjamin Franklin