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Making money and paying tax on online income?

Discussion in 'Making Money' started by Adrian112, Dec 6, 2014.

  1. Adrian112

    Adrian112 Supreme Member Premium Member

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    I'm from Bosnia, and I am making about 6000? from Adsense, and they send me money 3 years now, on Visa card from my bank, and I really want to know, is there a law for this online income, and do I have to pay tax as Google employer, and if I do, how much % from this shoul I pay?
     
  2. austin.c

    austin.c Registered Member

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    Adrian, this depends in which country you are... If you were on US I think you have to pay taxes, but then it depends on country.. Man, you are banking hard.. amazon, now adsense.. :p hehe
     
  3. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    You're in Bosnia and you fear about tax enforcement? :eek: Like, in the 1 in 1000 that they'll get you, it'll be hard to pay off the tax man to forget about it? :)
     
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  4. Adrian112

    Adrian112 Supreme Member Premium Member

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    Yes, but, I searched for some income laws and tax laws from Bosnia, and I didn't found anything helpful, so, I really do not know is this dangerous to do without any tax, but, I'm thinking about consulting with some lawyer this week..
     
  5. kypso

    kypso Junior Member

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    You will have to pay income taxes in the country you are living.

    K.
     
  6. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    You may consult a local tax firm in order to get the right answer. Look for firms like PwC or KPMG or similar they are able to give you a clear answer on this.
     
  7. Adrian112

    Adrian112 Supreme Member Premium Member

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    Yes, but tax in Bosnia is at 20% now, and they will take 1200€ from me, and I work really freaking hard for this, and I'm not giving this amout of money if I dont have to.. :)
     
  8. blackhat-dudette

    blackhat-dudette Regular Member

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    I think generally as a self employed person, you will be liable for some for of tax. After a quick search I have found the following, although I am not too sure how helpful it is:

    Code:
     http://www.icaew.com/en/library/subject-gateways/tax/tax-by-country/bosnia 
    It may be worth doing your research, as in the UK it is sometimes more worthwhile registering as an actual business entity, as oppose to a self employed person, so you can take advantage of certain tax breaks etc.
     
  9. LostConnection

    LostConnection Senior Member

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    If you were in the UK or US it'd be a whole different game, but if you can sleep soundly without your conscience kicking in, I agree with Jazzc :D
     
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  10. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Which was exactly my point. Instead of paying taxes, don't and in the remote case the tax man catches you, you pay him off.
     
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  11. Adrian112

    Adrian112 Supreme Member Premium Member

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    It is easy here if money goes from hand to hand, without bank accounts, but it is really weird if someone get few thousands € every month from Canada or US :=)
     
  12. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Use multiple banks. I highly doubt Bosnian banks are connected to the Bosnian IRS.
     
  13. norkodeo

    norkodeo Jr. VIP Jr. VIP

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    But you understand that everyone pays taxes and if its 20% taxes so that means that you got not 4000eur profit but 2800eur - maybe learn to count your REAL PROFIT not with taxes not counted.
    I dont know how its in Bosnia, but so far Im from europe to and here if you hide your taxes you can sit to jail for this and if you get profit if you take it from ATM you buy goods and so on that means you need to pay taxes...

    I really really sugest you to call or go to some goverment institution and ask about this - you can try to tell them that you are planing to do business like this and you want to know what exact taxes you need to pay and so on - and they gives you all information, because even millionaires get caught and sits to jail for hidding taxes, so this way is the worst you can choose ;}

    Its better to bank good, pay taxes and dont be affraid of nothing..
     
  14. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Balkan Tax Newsflash: Ain't nobody got time fo' dat :eek:
     
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  15. creepez

    creepez Registered Member

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    Hey man you are making 6k € a month from adsense only?
    You have balkan countries trafic or you focus on worldwide?
    Im from croatia btw

     
  16. I-marketer

    I-marketer Regular Member

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    Hey OP, I assume you've been banking with adsense for a couple of years now and you never stumbled into taxes?

    I'd say screw taxes, but are bosnians authorities good at finding tax evasions?
     
  17. Adrian112

    Adrian112 Supreme Member Premium Member

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    haha. You can bank with US content only dude. :)
     
  18. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Bosnia is a semi-failed state after a devastating war in the freaking Balkans and a major route of contraband to Europe. Take a wild guess :)
     
  19. Adrian112

    Adrian112 Supreme Member Premium Member

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    Really blind I can say, but even a blind man can hit you sometimes
     
  20. SirLoki

    SirLoki Registered Member

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    I don't think you have to pay 20% in one shot, I'm pretty sure all countries have some sort of scale.
    Like you'd pay 5% on the first 1000, 10% on the next 2000 etc..

    But don't take my word for it