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[xXInfectedXx]

Sent a payment of 19$, and payed 3$ tax. Does the money go to PayPal or the goverment here in the UK? Do I have delcare my income online and pay tax
Tax
$3.80 USD

Total
$22.80 USD

 

[overcast]

Paypal takes the transaction cost as service tax and the VAT. So it's possible into the thing is that there is going to be taken for the govt taxes on their side. But transaction cost on tax paid is their problem and not ours. But we can log those transaction costs for the expenses on our end.

 

[Lovely]

I believe tax is paid to the government not PayPal ,I don't think the company as any business with that.I read about this on post loop of residents of tier 1 countries paying their taxes to the government when they have had about $600 payment ,so it definitely for the government.

 

[Medowriter]

But in my opinion I feel there should not be double deduction, at least when PayPal charge fee for transaction, tax payment should also be included also the $3 tax is too much for $19 payment

 

[Wisdom01]

Its possible a certain amount would go to paypal and a certain amount would go to the government , because paypal need to earn some cash

 

[Wisdom01]

Its possible a certain amount would go to paypal and a certain amount would go to the government , because paypal need to earn some cash

 

[a_jerobon]

I think that it could be possible that PayPal is charging the high fee because they have to pay the government taxes and also remain with their profits.

 

[Binita100]

Its PayPal the money is going to while the paypal company would now pay the UK company some amount of tax, so more parts goes to paypal

 

[crypworld]

I wonder there would be a double tax - one deducted from paypal and one from our bank account.

This can happen because governments are going to introduce tax for cryptocurrency earnings.

 

[Binita100]

I wonder there would be a double tax - one deducted from paypal and one from our bank account.

This can happen because governments are going to introduce tax for cryptocurrency earnings.

The vat been deducted when making payment should be enough and another night not be dedicated from your bank again , based on the recent transaction i have done

 

[crypworld]

The vat been deducted when making payment should be enough and another night not be dedicated from your bank again , based on the recent transaction i have done

ok then that's good and should not be a concern. Thanks Binita?

 

[GoldenLady]

If it's simply labeled tax, it should be going into the government's pockets. I believe Paypal charges should be labeled transaction fees instead.