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payoneer and french taxes

Discussion in 'Business & Tax Advice' started by samoocha, Mar 21, 2017.

  1. samoocha

    samoocha Newbie

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    Hi,
    the question is stupid but, If I receive payments in payoneer and not declare them in europe/french taxes is that a problem? or better have the payments sent to my home country in africa?
     
  2. bluehatface

    bluehatface Regular Member

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    What I do is just spend the Payoneer money and don't worry about it if I withdraw from a cash machine. If i transfer it to my bank i declare it.
     
  3. samoocha

    samoocha Newbie

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    thanks , so never had any issues? even withdrawal from ATM?
     
  4. Lauriat

    Lauriat Power Member

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    I actually believe it depends how much you are making, there must be threshold at which your account will be reported to your home country.
     
  5. switchblade

    switchblade Registered Member

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    If the site that pays you deducts taxes from you before paying you, then you should obtain necessary documents from them to show the deductions. If not you will most likely be liable for taxes on the income you earn online.

    If you want to avoid paying taxes, best to have it sent to your home country in Africa.
     
  6. bluehatface

    bluehatface Regular Member

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    No problems for me. I don't think the government even knows about the account.
     
  7. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    they have obligations to report your account if you live in Europe at least!
     
  8. bluehatface

    bluehatface Regular Member

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    Bugger. So there could possibly be repercussions?
     
  9. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    not just possibly rest assured that by the latest of next year 2018 your tax office will send you a Xmas card, congrats with your Payoneer account please pay tax from X amount on your account and also the fine and interest rate they may charge.
     
  10. bluehatface

    bluehatface Regular Member

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    Oh dear. I have quite a few years to pay then!
     
  11. samoocha

    samoocha Newbie

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    Well I live in europe but the site that pays me have the africa address, so how can they possibly link both?
     
  12. Sephrata

    Sephrata Jr. VIP Jr. VIP

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    Nearly every country in Europe, you are taxed on your worldwide income as a resident of that country. If you have income taxed at source in a foreign country, then it's likely that a double taxation treaty will come into play.
     
  13. samoocha

    samoocha Newbie

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    How long have you been doing this for? what I read that for french people they check if they have done a transaction with a non french card over the past 3 years, do you withdraw cash from ATMs too?
     
  14. samoocha

    samoocha Newbie

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    why by latest 2018, anything changed if bluehatface been doing this for long time, he should have been already contacted
     
  15. bluehatface

    bluehatface Regular Member

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    At least 4 years. Some gets declared, some doesn't.
     
  16. mancar487

    mancar487 Jr. VIP Jr. VIP

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    Payoneer does not do any reporting, unless they are subpoenaed during an investigation. They are a payment service and as such, they do not 'pay' you. I.e. if you are doing amazon affiliate and you are getting paid through payoneer, it is amazon that is paying you, and not payonner. The onus on reporting to authorities would be on amazon.
     
  17. nakamura

    nakamura Senior Member

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    I asked the same thing to some payoneer employees. They told me this:

    "All global payment details (bank accounts) Payoneer provides are collection account details. Unlike standard bank accounts that are opened by simply walking to the nearest bank branch, the details we receive from the bank are set up directly through headquarters.

    This is why details such as the bank branch code (swift code for example) are not available as the details weren't set up as regular bank accounts.

    This means that the details only have the capability of acting as a mediator between the sender of the funds and the receiver of the funds (Payoneer). At no time will the funds be held in the collection account details we provide longer than the duration it takes to move the funds to your Payoneer account. "
     
  18. samoocha

    samoocha Newbie

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    you declare your payoneer account? without you declaring your income , how would they know? it is almost a virtual account, so if you don't use it in ATMs or with french merchants and use it in nearby country I don't think it would be noticed.
     
  19. bluehatface

    bluehatface Regular Member

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    Its not going to be found out unless you're making a shit ton and transfering to your bank; however, I am a legitimate sole trader so I declare all my earnings (except the odd bit here and there).

    If i transfer from Payoneer to my local bank account, either by electronic transfer or by withdrawing at an ATM and then depositing, it gets declared on my tax return. If i just withdraw some money for spending or use in a shop (beer, food etc.) It doesn't go on my tax form.