Hi guys. I live in Slovakia. Two years ago I finished school and I became unemployed after this. Over the past two years I'm making some money online with my adult blog and youtube. Not much but more than the average salary in Slovakia. I usually have two bank transfer a month (my earnings). 1) ETF transaction from paxum, usually ?1,500-?1,900/month and 2) WIRE transfer from my youtube partner, usually ?600-?1,100/month. Maybe I'm stupid but I never cared about the tax. I'm kinda lazy, I wake up after 11am... absolutely zero effort.. etc. Does the bank flag my checking account or does report me. Should I worry about it?
i'm pretty sure this is under the limit when they're obligated to report you, on another hand when and if there will be an audit initiated by your tax agency for any reason, you'll be majorly fucked, because not only you have to pay all the taxes you haven't paid, but a hefty fine too if i were you and would like to evade paying tax and not to worry about it much, i'd just get a card for the Paxum account, so you don't have to withdraw the money to your bank account or even better, a Payoneer card and receive every payments there the tax agency can easily get access to your domestic bank account, but not so easily to your foreign online accounts, i hardly doubt, if they would know about the existence of these services anyway
WTF ? This shitty amount isn't what the bank cares for. I used to do around 100K a month from my savings account in US and never paid a dime. This amount isn't what they even notice. Stop worrying about it at all. And always withdraw your money and keep the bank balance low. They banks use a system to check your Balance all over, so they know you are just another fish in the pot!
Thanks guys for the responses. So the general opinion is that there is nothing to worry about. I've thought about this but the only problem with that Paxum Mastercard is available only in USD. Maybe it would be expensive to exchange EUR in ATM machine. Or do you have experience with this?
well, if you withdraw the money from Paxum to your bank account, you also pay for the USD->EUR conversion, the only difference that you pay for it once, when you use the card at an ATM, you always pay the actual conversion rate, which i think now is better and would be a better choice to keep the money in USD seeing the tendencies, because it's just getting stronger and stronger especially against the EUR, so you'll get more EUR for your USD, besides tax evading, it could have this advantage too pay with the card wherever you can, because withdrawing from ATMs can be costly, but i think it still worth a good night sleep
I have a question about the Payoneer Debit Card. I currently have one and on the "fees" page of payoneer it says about the fees that: ATM Withdrawal or Cash Disbursements (via bank teller or in-store) $3.15 Per Trx When withdrawal or disbursement is requested (*surcharge may also be applied by your ATM/POS service provider) I'm unsure what this means when it comes to using your Payoneer card to pay for something in a store. Do you just have to pay $3.15 when you withdraw money from an ATM or do you have to pay $3.15 on EVERY transaction? Even really small ones in a store? So say I go to a store and buy something with my Payoneer card for $2, would I have to pay the $3.15 fee or not? Because this would be pretty ridiculous. If anyone could answer this question it would help me out a lot.
