Payoneer / firstpaychoice and Automatic data exchange from OECD

#62
evildoer93 said:
Payoneer cards were banned in Russia a few years ago, so it's definitely doable. I wouldn't touch Payoneer's stocks with a 10-foot pole at this point. Investors have no idea what they're buying.
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Payoneer is just another pseudo-legit company that takes advantage of the insane stock market exuberance to go public and take money from idiots (because nobody else will buy them).
Joining other dubious companies that nobody wants to buy, such as Taboola, Iron Source, OutBrain (coming soon) and other trash.
 
Reactions: evildoer93
#63
Sup guys! Sorry for pushing this old thread, but I can't open new one's yet.
So someone is in Germany and he has an account with Payoneer, where he receives payments.
I read through the whole thread but I'm still not sure if Payoneer reports taxes.

Is's very important to know that, since someone has an income on a Payoneer Account - His plan was to order an Payoneer Debit Card and cash out on an ATM in Germany.

The payment is issued by an US company and in USD, so the person has to pay conversion fees when he withdraws at a german ATM.

There could be a possibilty that the person receives a payment over 10k$ and he worries, if he should try to keep the payment under 10k$ so it doesn't get reported. Does that make sense?
Also would it be better to withdraw the money in another country in case the ATMs report something to the tax authorities?
 
#64
As far as I know, there is no way for German tax authorities to find out that he has a Payoneer account and debit card because Payoneer isn't a bank and doesn't need to report anything to tax authorities. ATMs also don't report anything. I know people who go abroad and use sunglasses, gloves, and face masks when withdrawing money from an ATM with a Payoneer card, but I think it's unnecessary paranoia. You are safe as long as you don't deposit 10k into your bank account, especially if you're on welfare or unemployed. Only then you're very likely to receive a letter from tax authorities.
 
#65
dubaimoney said:
Also would it be better to withdraw the money in another country in case the ATMs report something to the tax authorities?
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A couple of years ago I was chatting about this Payoneer/ATM withdrawal situation with a person with first-hand knowledge of the procedures and operation of an EU country tax authority. The person suggested to make withdrawals abroad to stay on the safe side.

So if the person lives in a driving distance from a neighboring country, I do not see any reason not to go on a road trip every now and then.
 
#68
BarbaraS said:
So if the person lives in a driving distance from a neighboring country, I do not see any reason not to go on a road trip every now and then.
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exactly what you want to do, avoid doing withdrawals in your own country with the hidden cards.

But why is this thread in here @Admin
 
#69
Hello, it´s been a very long thread and I still have question what I like to know.
Its always the talk about payoneer but what about paxum ?
Are they exchanging data to germany,swiss?
Most of those ewallets have changed and you need to show so many documents about kyc and how much money you receive and from where and stuff.
But if you have a paxum union debit card and receive money and withdraw it though an ATM... are they reporting you?
There is still no clarification for me.
And once you close your account. They write they keep you data for 7 years.
Will they report after ?
It is so confusing because people always talk about only banks have to report and those ewallets are no banks.. but then other people say they will report it.
So please if someone that knows whats going on can clarify things .
Thank you very much
 
#70
Not sure if Paxum is the right choice in this case.
 
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