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theAlThemist says

In my country I loose roughly 45 USD /transfer:

Envato charges $35 to send My bank charges $10 to receive.

The only “problem” (for some people) is that using a SWIFT makes every cent official for the tax authorities.

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revaxarts says

The only “problem” (for some people) is that using a SWIFT makes every cent official for the tax authorities.

Do the “tax guys” have acces to your bank account?

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theAlThemist says

Unfortunately – yes. Unless you’re living in Switzerland, Aruba or Kaiman Islands. :D

In two words – we’re f#&%d. :D At least EU countries and USA .

EDIT : I am talking based on my experience as a former head of department in Raiffeisenbank (Bulgaria).

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fillerspace says


The only “problem” (for some people) is that using a SWIFT makes every cent official for the tax authorities.
Do the “tax guys” have acces to your bank account?

In the US, the “tax guys” have access to PayPal too

http://www.nytimes.com/2006/04/12/technology/12paypal.html?ex=1302494400&en=2dac3a8cf8bc0b36&ei=5090&partner=rssuserland&emc=rss
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fillerspace says

Unfortunately – yes. Unless you’re living in Switzerland, Aruba or Kaiman Islands. :D

In two words – we’re f#&%d. :D At least EU countries and USA .

EDIT : I am talking based on my experience as a former head of department in Raiffeisenbank (Bulgaria).

I wonder if anyone here has an account in one of those countries and chooses payment via wire transfer. If I open an account in the Cayman Islands and get a debit card to withdraw the funds in the US, how would they find out?

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theAlThemist says

I am not sure but I think the bank secret actually means nothing especially for US citizens.

Just a small example: ;)

United States/Switzerland Information Sharing Agreement

On January 24, 2003, the United States and Switzerland agreed to facilitate the exchange of tax information in an effort to ensure that no safe haven exists for funds associated with illicit activities, including tax evasion.

This requires Swiss banks to turn over account and accountholder information in the event that U.S. officials suspect tax fraud. Part of the agreement states: “It is understood that, in response to a request, the requested State shall exchange information where the requesting State has a reasonable suspicion that the conduct would constitute tax fraud or the like. The requesting State’s suspicion of tax fraud or the like may be based on:

  1. Documents, whether authenticated or not, and including but not limited to business records, books of account, or bank account information;
  2. Testimonial information from the taxpayer;
  3. Information obtained from an informant or other third person that has been independently corroborated or otherwise is likely to be credible; or
  4. Circumstantial evidence.
Source: U.S. Department of Treasury
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fillerspace says

I am not sure but I think the bank secret actually means nothing especially for US citizens.

Just a small example: ;)

United States/Switzerland Information Sharing Agreement

On January 24, 2003, the United States and Switzerland agreed to facilitate the exchange of tax information in an effort to ensure that no safe haven exists for funds associated with illicit activities, including tax evasion.

This requires Swiss banks to turn over account and accountholder information in the event that U.S. officials suspect tax fraud. Part of the agreement states: “It is understood that, in response to a request, the requested State shall exchange information where the requesting State has a reasonable suspicion that the conduct would constitute tax fraud or the like. The requesting State’s suspicion of tax fraud or the like may be based on:

  1. Documents, whether authenticated or not, and including but not limited to business records, books of account, or bank account information;
  2. Testimonial information from the taxpayer;
  3. Information obtained from an informant or other third person that has been independently corroborated or otherwise is likely to be credible; or
  4. Circumstantial evidence.
Source: U.S. Department of Treasury

You can structure these in a way that makes it legal. Google does: http://www.businessweek.com/magazine/content/10_44/b4201043146825.htm

The trick is not to have the bank account in your own name and just not declare the income. You should have a shell company there that “earns” the profits, but pays no taxes.

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brainbuzzmedia says

Oh dear, what did I start?

If you choose payoneer you get a prepaid credit card in the mail with like $5000 on it? Then how does this get in your bank account or anywhere more secure than a card?

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fillerspace says

Oh dear, what did I start? If you choose payoneer you get a prepaid credit card in the mail with like $5000 on it? Then how does this get in your bank account or anywhere more secure than a card?

Sorry to take this thread off topic. Payoneer says you Can withdraw up to $2500 per day using ATMs though you will likely have to use several banks because some ATMs are limited to $300 or $500 per day. Do this 2 days in a row and deposit the cash in your bank.

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brainbuzzmedia says

Eww. Having to withdraw from 15+ atms per month does not sound that easy.

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