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Paypal taxes EU

Discussion in 'Business & Tax Advice' started by Menzo, Feb 2, 2017.

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  1. Menzo

    Menzo Newbie

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    Hello everyone, I earn like 25-50 euros max every 10 days in paypal. If I would pay taxes almost nothing would be left from it. Is there a chance of me getting into any trouble or? I've heard people say only if you make "big money" you could turn up as a red flag and they might investigate you. But I don't find anything about very small amounts of money like I earn.
     
  2. nanavlad

    nanavlad Jr. VIP Jr. VIP

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  3. Menzo

    Menzo Newbie

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    Thanks for the answer, I've gotten paranoid because after 3 years of using paypal I'm close to reaching the 2500 euro limit and they need my id and such. Guess I'll send them the infos with no worries :)
     
  4. W9go

    W9go Jr. VIP Jr. VIP Premium Member

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    depending on your country and other income.
    if you earn it on top you have to add that in you're yearly income tax paper.
     
  5. Menzo

    Menzo Newbie

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    I'm from Belgium and have no other income.
     
  6. W9go

    W9go Jr. VIP Jr. VIP Premium Member

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    than it should be no problem .. but you just have to check your local tax regulations. the most eu country get no tax below roughly 10.000 euro a year income.
     
  7. Menzo

    Menzo Newbie

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    I've just checked it out and since 2014 if I earn less than 15k euro a year I don't have to file any taxes. (if this is my only income) Before 2014 this amount was 5580 euro. Guess I have nothing to worry about :) thank you guys.
     
  8. Ungag Gag

    Ungag Gag BANNED BANNED

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    Paypal doesnt collect taxes until after a year mate.
     
  9. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Forget about taxes with these small amounts.. Nothing to worry about!
     
  10. kabre

    kabre Jr. VIP Jr. VIP

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    It depends based on which european country are you operating from.
    But for this small amount of money you should not have any trouble
     
  11. Menzo

    Menzo Newbie

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    Thanks everyone for their input! :)
     
  12. RoiBox

    RoiBox Regular Member

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    Woow, what countries are we talking about here with that high amount of no tax and within EU, in my country "Sweden(EU)" the free amount is only about €1800 per year before you start paying taxes.
     
  13. whatsapp

    whatsapp Regular Member

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    £12500 in the UK, even more if you have a partner on low income. Some countries taxation laws are draconian.
     
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  14. RoiBox

    RoiBox Regular Member

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    So if your partner is on a low income, how much could you together earn without paying taxes?
     
  15. W9go

    W9go Jr. VIP Jr. VIP Premium Member

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    each country has ist advantages ... you have hot blond chicks :)
     
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  16. whatsapp

    whatsapp Regular Member

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    From Gov website:

    Marriage Allowance lets you transfer £1,100 of your Personal Allowance to your husband, wife or civil partner - if they earn more than you.

    This reduces their tax by up to £220 in the tax year (6 April to 5 April the next year).

    To benefit as a couple, you (as the lower earner) must have an income of £11,000 or less. You can calculate how much tax you’ll pay as a couple.

    You can get Marriage Allowance if all the following apply:
    • you’re married or in a civil partnership
    • you don’t earn anything or your income is under £11,000
    • your partner’s income is between £11,001 and £43,000
     
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  17. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    Thread Closed At OP's Request
     
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