Payoneer & Taxes

P

pap1432552

Newbie
Joined
Oct 2, 2018
Messages
8
Reaction score
0
Hello guys & gals
I m looking for some advice regarding payoneer & taxes

I live in eastern Europe, and I am freelancing using payoneer ( and sometimes paypal ) to get paid by my clients.

I was wondering if there is any way for the tax authorities to find out about this payoneer account. I am being careful, not withdrawing regularly from the same ATMs etc.

Is there any way they can find out ? any advise or experience you have regarding that matter
 
Advertise on BHW
Of course there is.The actual question should be, how far are they willing to go to catch you. Last time I checked Payoneer was a US based company, issuing cards from Belize (that probably changed in the meantime). They could potentially charge you with money laundering and ask for cooperation on international level, but this process is time and resource consuming and reserved for big fishes.

Your "trick" of using different ATMs in the country of residence is next to useless (anti-money laundering mechanisms cannot be fooled by that simple stunt), so if you are earning large sums of money, you should go to the bordering countries and withdraw your money there or transfer your funds using BTC, if that is feasible in your situation.

For more information you should fill in more details (country in question, volume of funds, deposit frequency, etc.).
 
To answer your question: Yes, there are ways to find out.

Since income tax rates are relatively low in Eastern Europe, you shouldn't risk trying to out-smart the authorities. Why bother doing business while being distracted by thoughts about getting caught in the back of your mind.
 
Thank you very much for your replies
((country in question, volume of funds, deposit frequency, etc.).

I live in Greece, The funds are in USD currency and whenever i am buying something or withdrawing them from an atm, there is an automatic conversion to Euros. Not sure if that counts
 
No they won't, don't worry about it. You'll just have to pay currency conversion fees (its automatically done as you said, and the fees in my country are up to 8-9%, in your country might be different).
 
arlind- said:
No they won't, don't worry about it. You'll just have to pay currency conversion fees (its automatically done as you said, and the fees in my country are up to 8-9%, in your country might be different).
Click to expand...
arlind- said:
No they won't, don't worry about it. You'll just have to pay currency conversion fees (its automatically done as you said, and the fees in my country are up to 8-9%, in your country might be different).
Click to expand...
yea i m already paying those fees when i withdraw from some ATM, i also think i pay just a little part of them when i buy things online but it's not a big deal. are you sure i shouldn't worry about it?
thank you
 
pap1432552 said:
yea i m already paying those fees when i withdraw from some ATM, i also think i pay just a little part of them when i buy things online but it's not a big deal. are you sure i shouldn't worry about it?
thank you
Click to expand...
Personally I've never experienced any of the problems you're worried about and I've been using payoneer for years.
 
Payoneer is a standalone compnay and if you were withdrawing funds into your local bank then there should a chance that you can be caught but withdrawing money directly though payoneer is pretty safe.
 
but paypal, after 2k requires certain verification. for example my address, tax information, bank information etc. payoneer requires nothing, apart from an initial ID document when signing up. so i guess there is no ''direct'' connection with tax authorities. anyone can actually verify or give more information ?
 
hmike123 said:
Works very similarly to PayPal.
Click to expand...
but paypal, after 2k requires certain verification. for example my address, tax information, bank information etc. payoneer requires nothing, apart from an initial ID document when signing up. so i guess there is no ''direct'' connection with tax authorities. anyone can actually verify or give more information ?
 
Hi,
I think it works differently. The fact that you are charged small fees at the time of conversion from USD to your currency when you withdraw the money from an ATM is one thing. Another thing is that being a resident of a specific country you need to pay income tax (or corporate tax if you run a company) according to the tax law in that country.

When you get paid by PayPal you can withdraw money either by using a card or by being paid to your bank. So, it's an easy way for tax authorities to check how much you earned and calculate the tax you should be paying. I believe the same is with Payoneer. The Payoneer account to which you got the ATM card must have been set up with the use of certain ID documents. The person on the registration documents is the person who should pay the tax depending on his/her place of residence. Only you know whether it is yourself or someone else. I hope it helped.
 
All money no matter where you are can all be traced .

when someone is paid for somethink , the company has to keep records to say who got paid from the money .

it legal has to be done or it fraud .

when you get money from payoneer or anyone it your responcceabilty to pay your own taxs every year .

if you dont pay your taxs your doing fraud fullstop.

the company that pays cash out files there finacial recordads yearly and all goverments can cheek them.

you might be able to hide cash but eventually need to pay tax on that cash to use it.

remember any money you earn is not fully yours , no matter what country your in , every body has to pay tax on there earings at the rate of what country there registered to.

you might get a good tax rebait if your in a diffrent country your registered to and legally working .

warning.
DONT FUCK WITH THE TAX MAN
 
Last edited by a moderator:
redarrow said:
All money no matter where you are can all be traced .

when someone is paid for somethink , the company has to keep records to say who got paid from the money .

it legal has to be done or it fraud .

when you get money from payoneer or anyone it your responcceabilty to pay your own taxs every year .

if you dont pay your taxs your doing fraud fullstop.

the company that pays cash out files there finacial recordads yearly and all goverments can cheek them.

you might be able to hide cash but eventually need to pay tax on that cash to use it.

remember any money you earn is not fully yours , no matter what country your in , every body has to pay tax on there earings at the rate of what country there registered to.

you might get a good tax rebait if your in a diffrent country your registered to and legally working .
Click to expand...
I know that i need to pay taxes and about fraud etc.
what i ask is if the money that i get from payoneer is traceable . they probably are , but will anybody care and will anybody actually try to trace them? this is my questions
 
pap1432552 said:
I know that i need to pay taxes and about fraud etc.
what i ask is if the money that i get from payoneer is traceable . they probably are , but will anybody care and will anybody actually try to trace them? this is my questions
Click to expand...
That was already answered. :) It's traceable, but more than likely no-one will care. Payoneer doesn't have any obligation to report their users to foreign tax authorities, but if they're asked, i guess they hand over the data.

It's your decision.
 
redarrow said:
All money no matter where you are can all be traced .

when someone is paid for somethink , the company has to keep records to say who got paid from the money .

it legal has to be done or it fraud .

when you get money from payoneer or anyone it your responcceabilty to pay your own taxs every year .

if you dont pay your taxs your doing fraud fullstop.

the company that pays cash out files there finacial recordads yearly and all goverments can cheek them.

you might be able to hide cash but eventually need to pay tax on that cash to use it.

remember any money you earn is not fully yours , no matter what country your in , every body has to pay tax on there earings at the rate of what country there registered to.

you might get a good tax rebait if your in a diffrent country your registered to and legally working .

warning.
DONT FUCK WITH THE TAX MAN
Click to expand...
Fuck the Tax man! I don't pay a dime and won't ever pay a penny on my IM earnings only to have it stolen by corrupt politicians.
Nobody would bother you about it in my 'cuntry' anyway, even if you are withdrawing directly to your bank account.
 
opiosko said:
Fuck the Tax man! I don't pay a dime and won't ever pay a penny on my IM earnings only to have it stolen by corrupt politicians.
Nobody would bother you about it in my 'cuntry' anyway, even if you are withdrawing directly to your bank account.
Click to expand...

We all thought that way here until tax authorities didn't ask the banks to provide them info for all their clients that received money to their bank accounts in last 3 years (from paypal and similar services)

Some people got really screwed up :) there's no workaround, they (including me) have to pay taxes. Luckily, they don't count the interests, yet.

It could have been even worse, they could ask for info on earnings for last 5 years, that's the law.

Edit: withdrawing from payoneer card shouldn't be s problem. They won't bother with it.
 
BraveBotter said:
We all thought that way here until tax authorities didn't ask the banks to provide them info for all their clients that received money to their bank accounts in last 3 years (from paypal and similar services)

Some people got really screwed up :) there's no workaround, they (including me) have to pay taxes. Luckily, they don't count the interests, yet.

It could have been even worse, they could ask for info on earnings for last 5 years, that's the law.

Edit: withdrawing from payoneer card shouldn't be s problem. They won't bother with it.
Click to expand...
thank you for your reply. i also think that they will not bother with it. i hope they won't haha
unless they start checking all of payoneer accounts worldwide etc, which i doubt will happen
 
So far all good, no problems :)
waiting for more info or official information from people who have been using payoneer card for years :)
 
I've been a long term Payoneer customer myself, and recommended this product with many of CC acquiring clients.

Nothing but smiles to report across the board. :)

Also, if you're using Payoneer a lot, and turning customers on, their affiliate programme isn't the worst thing. (could be better tho..)
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Media Downloads

Marketplace

Account Selling Content / Copywriting EBooks / Methods Hosting Misc Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Web Design More

Making Money

Affiliate Programs Hire a Freelancer IM Journeys Making Money Pay Per Click Site Flipping Want to Buy

BlackHat World

Dispute Resolution Forum Suggestions & Feedback Introductions Lounge
Back
Top