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Moneybookers Mastercard and paying no tax on online earnings

Discussion in 'Business & Tax Advice' started by Slick_Rick, Aug 17, 2010.

  1. Slick_Rick

    Slick_Rick Newbie

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    Hello fellow Blackhatters,

    If one wanted to pay no tax on there online earnings would it be possible to do this using a Moneybookers Mastercard?

    With the Moneybookers Mastercard you directly access funds in the Moneybookers balance without having to transfer the Moneybookers funds to your bank account?

    Would the tax man and government authorities (in the UK) be aware of this? I am not transferring funds to my bank account so surely tax and government authorities would not

    be aware of this? Or am I missing something?

    Thank you all.
     
  2. Slick_Rick

    Slick_Rick Newbie

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    Anyone?
     
  3. volund

    volund Senior Member

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    Occupation:
    Trying to make a buck or two
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    NW Arkansas
    I am pretty sure they have a US division, if that is the case they are going to end up being affected by the same reporting rules that paypal is going to have to start following or the feds will block them from doing business in the US.

    Seriously there are a lot of ways to limit the amount of taxes you have to pay without having the irs hitting you up for tax evasion and freezing your bank accounts. You might be surprised with what you can legally write off on your taxes especially if you incorporate. A much better path to follow.

    Any payment you take that is not cash is something they can track. While you may get away with it for awhile when they catch up to you your life will seriously suck.