Hi guys,
I was wondering if any of the experts here could confirm that Paypal only reports account balance as at the 31th of December (not the yearly volume)? According to their terms they report:
Also, it seems that Transferwise doesn't report, not sure if it is really true. I found it in their Borderless account Terms:
Will you report my transfers to the tax authorities?
TransferWise Limited is a UK company authorised by the Financial Conduct Authority as an Electronic Money Institution. We are still evaluating the impact of the Common Reporting Standards, including FATCA, to our business and how we will adopt the new requirements. At this time we are not reporting this information to HMRC or any other tax authority.
Not sure if the same applies to all kind of TransferWise transactions or only the Borderless ones. Do you know anything about it?
I was wondering if any of the experts here could confirm that Paypal only reports account balance as at the 31th of December (not the yearly volume)? According to their terms they report:
- your name;
- your address;
- your country (or countries) of (deemed) tax residence;
- your Tax Identification Number(s);
- your place and date of birth;
- your account number;
- your account balance as at 31 December of any year during which the account is held
Also, it seems that Transferwise doesn't report, not sure if it is really true. I found it in their Borderless account Terms:
Will you report my transfers to the tax authorities?
TransferWise Limited is a UK company authorised by the Financial Conduct Authority as an Electronic Money Institution. We are still evaluating the impact of the Common Reporting Standards, including FATCA, to our business and how we will adopt the new requirements. At this time we are not reporting this information to HMRC or any other tax authority.
Not sure if the same applies to all kind of TransferWise transactions or only the Borderless ones. Do you know anything about it?
