receiving cash gifts/loans from abroad

[RexS9999]

One receives a gift or loan in the form of a wire transfer. Do the tax authorities in most western countries accept this without supporting documents? Specifically do they ask to see bank statements from the senders account? Loans from family members often are not written contacts, just verbal. Anyone have experience with this?

 

[NicolasMaduro]

One receives a gift or loan in the form of a wire transfer. Do the tax authorities in most western countries accept this without supporting documents? Specifically do they ask to see bank statements from the senders account? Loans from family members often are not written contacts, just verbal. Anyone have experience with this?

Dont most western countries tax gifts though?

I know a person who received a big “loan” from his friend in the US. He lost his case in court and was ordered to pay taxes on the “loan” cause he had not done any payments on the “loan” ever. So they concluded it was a gift and not an actual loan.

 

[RexS9999]

Dont most western countries tax gifts though?

I know a person who received a big “loan” from his friend in the US. He lost his case in court and was ordered to pay taxes on the “loan” cause he had not done any payments on the “loan” ever. So they concluded it was a gift and not an actual loan.

Thanks for your reply. Not all western countries tax gifts.