Hello, I am planning to have online classes using Paypal gateway method on a website.
Some people told me this is illegal since I am not paying tax on the amounts i will receive. is that right?
If yes. Is there a way to make it legal?
Thank you for your help
Paypal Payments
Re: Paypal Payments
I don't see how this can be true. Paypal is just the way you receive payments and it says nothing about what taxes are included in that payment or how you declare that income.
Your best action may depend on whether you are operating as a company or self-employed, I don't know. When I, operating as a company (Oy), have received payment via paypal it has been treated as just another payment. The paypal account has been treated (by my bookkeeper) as just another bank account and the income received there has been treated the same as payments made into the company's regular bank account.
If you have an accountant/bookkeeper I would ask them about how they suggest you proceed. Otherwise ask Vero.
Your best action may depend on whether you are operating as a company or self-employed, I don't know. When I, operating as a company (Oy), have received payment via paypal it has been treated as just another payment. The paypal account has been treated (by my bookkeeper) as just another bank account and the income received there has been treated the same as payments made into the company's regular bank account.
If you have an accountant/bookkeeper I would ask them about how they suggest you proceed. Otherwise ask Vero.
-
- Posts: 1439
- Joined: Sun Nov 08, 2009 8:52 pm
Re: Paypal Payments
Regardless of the payment method, you must declare your income to the tax authorities. There's nothing inherently illegal in using Paypal.Enterpreneur wrote: ↑Tue Feb 09, 2021 10:28 amHello, I am planning to have online classes using Paypal gateway method on a website.
Some people told me this is illegal since I am not paying tax on the amounts i will receive. is that right?
If yes. Is there a way to make it legal?
-
- Posts: 4370
- Joined: Thu Aug 29, 2013 1:24 am
Re: Paypal Payments
And to expand on this, you will want to go check the reporting requirements per customer country (for example, vat and sales tax issues).FinnGuyHelsinki wrote: ↑Tue Feb 09, 2021 11:55 amRegardless of the payment method, you must declare your income to the tax authorities. There's nothing inherently illegal in using Paypal.Enterpreneur wrote: ↑Tue Feb 09, 2021 10:28 amHello, I am planning to have online classes using Paypal gateway method on a website.
Some people told me this is illegal since I am not paying tax on the amounts i will receive. is that right?
If yes. Is there a way to make it legal?