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Online business (+40k). Help please

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juvejuve2020

Mentor Group Gold
Hello everyone.

I came to ask for your help in the following.

I make some sales on ebay where in the last year I have achieved good earnings (+ 40k), it happens that I have several ebay and paypal accounts, because every time ebay closes an account, I open a new one with an equally new PayPal account.

All of these accounts have false names and false data (note that they dont asked for identification documents).

Now my problem is that I have a lot of paypal accounts with cash and have withdrawn some money for bunq accounts that I have.

I wanted your help.

What I have done is to withdraw some money from the paypal accounts and transfer it to a fixed paypal account (also fake) and from that transfer to my bunq account (this is where I have the associated bank account), then I withdraw the money and keep it at home .

In order to reach the end of the year and have the account as low as possible because of crs reporting.

Do you think this is valid or can I be caught in some way?

I didn't want to get in trouble with my country's finances (Portugal).

Is it a good solution to keep the money on paypal and withdraw it gradually?

For all intents and purposes my data is false.

Another thing, BUNQ asked for my tax number and I sent it wrong and without any problems so far.

I look forward to your help.

Thank you.

Ps: some of the values I also sent to other emis like revolut, MONESE, n26.
 

Saho

New member
Hi,

this sounds like a very bad idea.

At some point, PayPal will start to investigate further and probably close your "fixed paypal account" too. Is your Bunq fake too? It looks like it's real, otherwise you wouldn't care about crs reporting.

Bank accounts within SEPA room don't like it when transfers are coming in with different receiver names. Although it's possible due to second name or business bank accounts where it doesn't really matter.

And sending in a wrong tax number is dumb too. This can get you in trouble and you should probably correct it manually by contacting the support.

Why don't you buy something from yourself with these paypal accounts? Then at least it will be taxed and there should be no problem anyway.
 

juvejuve2020

Mentor Group Gold
Hi. Thanks for your reply.

Yes, the bunq account is real and with my data.

Only the taxpayer number did I put the wrong one.

What problems can I have here? The real ones, of course, not the supposed ones!

When I buy from myself the money will stop at another PayPal account because what I sell is on ebay where the payment is made by PayPal.

What I do is spend some of the money I have on PayPal to buy things for me, like TV, cell phone, watches, food. Etc.

But when reporting crs from the bank they will only send the amount I have at the end of the year, correct?

That is why I have chosen to transfer the money to the bunq and get it up to keep at home. Only that.
 

juvejuve2020

Mentor Group Gold
What I really want to understand here is whether in your opinion do you think that somehow I can be "caught" by the authorities taking into account that at the end of the year the money is at home and not in the bank.

Thank you
 

CaptK

Nominee Company Bank Account Real Estate Passport
Mentor Group Gold
If Bunq find out your Tax ID is wrong then they will ask for the correct one and then freeze your account until you correct it. This may also trigger a tax investigation and then you could have issues because it's the turnover they look at not the profit.
 

OffMyBack

New member
for 40k lol - lets put it differently. If you had a real ebay account and a real paypal account that could make these sales in your name , would you have done it and would have reported it as your income? if so, then whatever you do seems to be working and just flipping report the fixed paypal account as that got your real data, or bunq.

truth is noone cares abut 40k unless you live in northern europe - but ofcourse you want to sleep at night, play the rules of the game you are in, either that, or move to a new country where the game rules are more favourable in your favour, but dont forget, a ticket to that new game will probably cost you more than the taxes you would pay back home.

Focus on earning the damn money ,not about taxes. Worrty abut taxes when you make a 1 million + a year
 

juvejuve2020

Mentor Group Gold
for 40k lol - lets put it differently. If you had a real ebay account and a real paypal account that could make these sales in your name , would you have done it and would have reported it as your income? if so, then whatever you do seems to be working and just flipping report the fixed paypal account as that got your real data, or bunq.

truth is noone cares abut 40k unless you live in northern europe - but ofcourse you want to sleep at night, play the rules of the game you are in, either that, or move to a new country where the game rules are more favourable in your favour, but dont forget, a ticket to that new game will probably cost you more than the taxes you would pay back home.

Focus on earning the damn money ,not about taxes. Worrty abut taxes when you make a 1 million + a year
Ahah .. I here worried about 40k to 70k and I already saw that here in the forum these are called "peanuts". I had no idea. Here in Portugal, banks only have to send information from people who at the end of the year have more than 50k in the bank. If you have 49.99k you are not reported. I in the PayPal account do not have real data, I only have the associated bank account. Thank you all for the answers.
 

juvejuve2020

Mentor Group Gold
49.99k , well I dont know about portugal - but that limit is nonsense fyi
I know that, but here in Portugal works like that! Only if you have 50k or more in one single bank account..
And if you have 20k in 3 different banks you are not reported.
This is Portugal!
 

KJK

Entrepreneur
Why do you keep opening new eBay accounts? Is it fake products or copyright problems or something else?

Most likely your biggest problem is the platform (eBay and Paypal) and their rules. Taxes aren't your (primary) problem.
 

juvejuve2020

Mentor Group Gold
Why do you keep opening new eBay accounts? Is it fake products or copyright problems or something else?

Most likely your biggest problem is the platform (eBay and Paypal) and their rules. Taxes aren't your (primary) problem.
Dropshipping problems. But in ebay and paypal i can solve the problems. Btw, thanks for your reply.
If taxes arent my primary problem is not so bad.. Hahah
 
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