Onlyfans new withdrawal update?

[Snowkingg]

Well, in Poland in every bank
I don't know if you understand it well, so in Poland it works like that:
1. In bank you are opening one business account for yourself
2. In internet banking, you are opening unlimited IBANS sub accounts, with your details, only number is different
3. Only Fans model is putting your account number and her name
4. Withdrawal will arrive, because SEPA system is not sensible for account owner name. You can put everything in name, but the wire transfer will arrive

There are taxation problem in Europe for such model. Because you need to pay taxes for such things and the question, how to do it if you receive full amount from model, send her money and she have to pay taxes too in her country. It's not cool


The best situation, if you know your models and she just pay you the marketing fee from own bank account.
The law, printed agreement will scare most of models from cheating.

Ah ok, yes that does seem nice, I don't have that option annoyingly!

I noticed in UK OF account it asks for VAT / Tax numbers now... but if model is from Aregentina it doesn't ask for this info.

Is it same in Poland, it will ask for tax numbers now? Or it just pays you full amount and leaves paying tax up to you?

 

[seoworld983]

You can get better solution for your query by contacting support team of Onlyfans.

Do you know any banks where you can open multiple sub accounts?

I've got a business account but they told me I can only have 1 set of account details per account

Not sub accounts but you can open two accounts 1 in your personal name and other in business name in any bank.

 

[Lukmat]

Ah ok, yes that does seem nice, I don't have that option annoyingly!

I noticed in UK OF account it asks for VAT / Tax numbers now... but if model is from Aregentina it doesn't ask for this info.

Is it same in Poland, it will ask for tax numbers now? Or it just pays you full amount and leaves paying tax up to you?

Yes, it will ask for VAT. Taxation problem is very important. I see many people doing it illegaly by making wise, skrill, revolut. But who will pay taxes then? What about VAT or doubled income tax? If your tax office will see wire transfer for $1000, it will ask why you paid taxes from $200 and the rest you send to other person. It will be treaten like money laundering or avoiding taxes.

The best and only legal way is to have agreement with a girl, best in Europe, on paper, for marketing services.
You are checking her monthly income in her dashboard, or requires TeamViewer on account. Payment from her account, or even via Stripe credit card.
You are clean for tax offices and don't care about girl's taxes, VAT, etc.

 

[Snowkingg]

You can get better solution for your query by contacting support team of Onlyfans.



Not sub accounts but you can open two accounts 1 in your personal name and other in business name in any bank.

Yeah I have 1 personal and 1 business... but that's only 2 account numbers, I need more

It would be great if Wise offered multiple account details on one account!

 

[Snowkingg]

Yes, it will ask for VAT. Taxation problem is very important. I see many people doing it illegaly by making wise, skrill, revolut. But who will pay taxes then? What about VAT or doubled income tax? If your tax office will see wire transfer for $1000, it will ask why you paid taxes from $200 and the rest you send to other person. It will be treaten like money laundering or avoiding taxes.

The best and only legal way is to have agreement with a girl, best in Europe, on paper, for marketing services.
You are checking her monthly income in her dashboard, or requires TeamViewer on account. Payment from her account, or even via Stripe credit card.
You are clean for tax offices and don't care about girl's taxes, VAT, etc.

Yeah, tax was so much of a mess in Europe I stopped working with European girls.

South American and Asian models they don't hassle you about tax, is much simpler.

 

[Lukmat]

Yeah, tax was so much of a mess in Europe I stopped working with European girls.

South American and Asian models they don't hassle you about tax, is much simpler.

It's not simpler, it's only minus VAT. But what about the income tax?
You are getting full amount from girl's earnings to your account and then what? In law, you need to pay full taxes from received amount. You are deducting 20% (example) from that?
Then what? Sending money after taxation? Then girl must to pay taxes also in her country. It's mess too...


As I said, the best would be if girl pays you monthly for marketing services.
You are making the invoice, including stripe payment and she is paying for advertisting service to you.
Clean money arrive to your account.
Good to see her dashboard, have some paper agreement to scare her with court if he think about cheating.
If she stop pay, you stop marketing (you can even redirect her social media profiles to adult CPA^^)

 

[Snowkingg]

It's not simpler, it's only minus VAT. But what about the income tax?
You are getting full amount from girl's earnings to your account and then what? In law, you need to pay full taxes from received amount. You are deducting 20% (example) from that?
Then what? Sending money after taxation? Then girl must to pay taxes also in her country. It's mess too...


As I said, the best would be if girl pays you monthly for marketing services.
You are making the invoice, including stripe payment and she is paying for advertisting service to you.
Clean money arrive to your account.
Good to see her dashboard, have some paper agreement to scare her with court if he think about cheating.
If she stop pay, you stop marketing.

Well without sales tax it's much easier (I moved to a country without sales tax)... money comes to me, and I pay the model from this money.

I pay tax on the net profit I make in the year (OF payments - money I send to girls - any other costs), simple

But yeah, that's why I stopped working with European girls, is a total mess with Sales tax, too much hassle for me when there are plenty of girls outside Europe that will be happier to work for cheaper also

 

[Lukmat]

Well without sales tax it's much easier (I moved to a country without sales tax)... money comes to me, and I pay the model from this money.

I pay tax on the net profit I make in the year (OF payments - money I send to girls - any other costs), simple

If you moved away from Europe to some normal jurisdiction, it's ok
I heard Cambodia is great for that, ZERO taxes

 

[Snowkingg]

If you moved away from Europe to some normal jurisdiction, it's ok
I heard Cambodia is great for that, ZERO taxes

haha, well I'm from Europe, but when I saw how much of my money they wanted to start taking from me for all my hard work and how confusing they make it, I ran away to somewhere that makes life more simple for me