Does Payoneer reports to OECD ?

Hello guys,


I've been working online for a while now, and things have been good and i've always kept my money on Payoneer / Paypal but i never transfer them to my local bank account, i only withdraw with my master card small amount of money from ATMs.


That been said, there is this new financial law in my country that's gonna take effect since 1st January of 2020.


Which consists on requesting all the freelancers like me to start reporting their income to the government, and they are gonna know who by using the OECD to get a list of people of that nationality from Paypal and such to start pressuring each one.


My question is, can a government that goes through the OECD pressure Paypal or Payoneer into giving out informations about their customers, like full names and their balances ?



This is a major change, and it certainly changes the rules of the game completly, i would appreciate if anyone can bring some insight into this matter.



Thank you so much !

at this moment I knew he s Moroccan

Does anybody have an actual answer on such a matter?

OECD is country/government level. This is all driven by the US, the circle of non-OECD compliant nations has dwindle in recent years.

Lets say Paypal make 10M a year from operating in Morocco, you think they are gonna risk that money by not provided a few hundred names to the government?

What you need my friend are laundromats and intermediaries

Where you from ?

Just pay your fucking taxes. There's no avoiding it. Might as well already include taxes into every spreadsheet, you'll pay today, tomorrow or some day, but the taxman never fails.

Do consider setting a USA LLC and even if you are not US based, its easy to achieve and also get a bank account opened, just need to call them (not email) and sound confident and apply for an ITIN.

or rent a company to do the invoicing for you and get them to pay the taxes, but then again you need to report it somehow.

With a clever accountant, you pay minimal taxes in the USA via an LLC.
If you want to stick to EU, then consider Estonia that has 0% corp tax but taxes on dividends (i.e money you take out from business)

One thing that is always going to happen to you is taxes... Here is the thing, dont avoid it. By trying to avoid it, by not setting up a legit company and filing legit taxes, you are playing yourself.. You wont grow if you have that mindset.. You cant scale..

You need to do everything legit, but here is the thing: Work so hard and make so much money that you can afford a good accountant. He or she will take care of everything for you and make sure you pay the least amount of required taxes.

smetch said:

Do consider setting a USA LLC and even if you are not US based, its easy to achieve and also get a bank account opened, just need to call them (not email) and sound confident and apply for an ITIN.

or rent a company to do the invoicing for you and get them to pay the taxes, but then again you need to report it somehow.

With a clever accountant, you pay minimal taxes in the USA via an LLC.
If you want to stick to EU, then consider Estonia that has 0% corp tax but taxes on dividends (i.e money you take out from business)

Click to expand...

Thank you, these infos are surely valuable. In regard of the US, are you referring to the states of Delaware and Wyoming ?

Pablo1997 said:

One thing that is always going to happen to you is taxes... Here is the thing, dont avoid it. By trying to avoid it, by not setting up a legit company and filing legit taxes, you are playing yourself.. You wont grow if you have that mindset.. You cant scale..

You need to do everything legit, but here is the thing: Work so hard and make so much money that you can afford a good accountant. He or she will take care of everything for you and make sure you pay the least amount of required taxes.

Click to expand...

That is the best advice i've received so far. What you said certainly makes sense 100%, but i'm only doing this temporarily until i a grow a little bit more, the budget is tight and i don't need to make it smaller because of the taxes, i need that for investing, until my income grows more.

But i realize at some point, when i reach a certain financial goal, i won't be able to scale unless i have a legit company because this business model isn't gonna last.