I happened to spend a lot of time digging through this just today, and my understanding is that "foreign source income" - that is, income earned by a nonresident alien, outside of the US - is generally not taxed, and not subject to withholding at all:
http://www.irs.gov/Individuals/International-Taxpayers/Nonresident-Aliens---Source-of-Income
http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Source-Income---Form-1042-S-Reporting-Not-Required
I suppose big companies just go for the W-8BEN/E because, to them, it's easier than certifying your non-residency.
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