Money from a business comes in, the assumption here is work and hence tax gotta be paid in the communist states of Europe.
Wise during KYC asks me about money sent from my company account to...my mother.
- Thread starter karishi
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How about this hypothetical situation:
- the mom left Italy several years ago
- she registered in Italy as non resident
- she continues to use her italian bank account
- she lives in a country with zero- or territorial-based taxation, for several years
Would the fact that she receives money to her Italian bank account, from his son's business, make her somehow liable to pay taxes in Italy?
Or would she have to pay, including zero , taxes in her present country she moved to?
Generally speaking, without nuances.
Either she is resident in Italy or she is not.
If she is registered in the AIRE database and is living outside Italy, she might be fine, assuming that the GdF is fine with that.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Did you tell them that it is a simple corporate loan you gave her? It is legal in most European countries to do so, at least the bank or Wise in this case should not interfering.
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As I've said:
"
- the mom left Italy several years ago
- she registered in Italy as non resident (for tax purposes)
"
Would she have been a resident in Italy?
If she is not in Italy and is registered with the AIRE, then she should worry about the tax authorities of the place where she currently resides
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
This has been going on for 4 years. No transaction was above the 10k Euro mark which triggers automatic reporting to tax authorities and currently SVG is not blacklisted in Italy. Anyway, now we have a consultancy agreement, in case she will be fined for not declaring 15k Euro of income, given the fact that a civil proceeding takes 10 years in italy usually they don't start it for such low amounts of money, but who knows?They take years to do anything might turn up down the road. My mother has an annual income from public pension which is 70k pre taxes and 15k pre taxes from renting one of her houses, so she already pays a lot of tax, although of course that's not a good excuse for anything.
I am doing a lot of currency conversions, I receive money in USD, EUR and GBP from different clients and converting them in AED, EUR, CHF, Norwegian Crown, Hong Kong dollars, Thailand Bhats and so on, I live as a digital nomad and thus I'm a good client.
In any case I uploaded all the docs they requested ( IDs for Beneficiary Owners and Directors, which is my Emirates ID and the Service Agreement with my mother that I backdated to 2018 for business development and mentoring services ) and they said that they checked the documents and all is good.
Cool then thats good news 😛. Your obviously have economic value to them. But lets not speak of service agreement 😉.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
My mother should have paid taxes on the money I sent her, no doubt about it, but in Italy ( and I think in all europe ) the tax authority doesn't get notified about transactions below 10k EURO. so 4 transactions a year of around 5k do not trigger any automatic alarm. And she is 73, getting an insane amount of money from the state which is taxed. When she bought a house, the tax authority called her almost immediately, because that's a trigger, but she had done the fiscal shield so her money was clean.
why do you believe that, and if so, so what?
it can indeed work... but let a BS lawyer draft and stamp it.
They spend most of their days browsing the web in order to find their next victim. Then they prepare the “operation” and one day, in the early morning, show up at the victim's house to execute it.
They love to harass naive and defenseless people.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I doubt this.
However, I think you are correct about the "They love to harass naive and defenseless people." part though. In many countries this is the case.
I saw them with my own eyes pain¤#"!
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Browsing forums for “collecting evidence”! And if they don't find any, they will go as far as creating it”¦
The GdF is also known as “la benestante” (“the wealthy one”), Italians will understand why.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
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