Transferwise and tax authority

[krille1337]

Hello guys i'm new to the forum but i can see alot of useful information which i appreciate so i thought i'd ask a few questions and possibly get them answered by veterans haha.
So basically i got some money on my paypal account that no one knows about (my country tax auth) i'm planning to send them my transferwise account(like around 3-5k USD) and i've ordered their transferwise card. I was thinking of withdrawing them in ATM's like 200 USD per week or something. Do you guys think this information will be sent to my local tax authority and in a year they'll ask me about where i got this money etc or is this fine to do? I live in sweden and they love to tax people , Looking forward for all types of answers and information for my type of problem. Thank you guys !

 

[krille1337]

i know its small amounts but im still worried haaha cuz im student and i think they'll wonder why i got this

 

[JustAnotherNomad]

Why do you think they don’t know about the money?

 

[krille1337]

paypal does not send info to m,y local tax authority unless they suspect something, and i've never sent the money to my bank acc. So the chances are verrrry low that they will randomly investigate my paypal account.

 

[reesek]

paypal will ask a shitload of docs after you send couple transfers to your iban
and ban you if you are not prepared or miscommunicate

 

[krille1337]

Dont worry, i've already connected TW to my paypal and tried to send 100$ and ti worked fine, the problem is, this is basically tax evasion and i earned this money online and i honestly had no idea i'm young, and i found out late and i'm scared to just call them and be like hello sorry i forgot to pay tax on 10k usd i earned and then they put me in jail and fines and stuff.

 

[reesek]

You are not serious are you? For 100 euros not even kyc required to accept anything. Even bank transfer.

Cross couple grand and you will unleash the kraken

 

[krille1337]

oh lol, what if i do 1k usd in TW then 1k on revolut etc andm just take out the money in atm every week. or is this a stupid way to get caught?

 

[reesek]

Without source of wealth document you will have everything blocked

 

[Spinat]

You can withdraw up to 2000 GBP without verification using PayPal. They will not make any trouble if the money comes from TransferWise have been doing it for a while.

 

[JohnLocke]

Hello guys i'm new to the forum but i can see alot of useful information which i appreciate so i thought i'd ask a few questions and possibly get them answered by veterans haha.
So basically i got some money on my paypal account that no one knows about (my country tax auth) i'm planning to send them my transferwise account(like around 3-5k USD) and i've ordered their transferwise card. I was thinking of withdrawing them in ATM's like 200 USD per week or something. Do you guys think this information will be sent to my local tax authority and in a year they'll ask me about where i got this money etc or is this fine to do? I live in sweden and they love to tax people , Looking forward for all types of answers and information for my type of problem. Thank you guys !

Tha's some very small amount, I don't believe you have to worry about the TAX office in this case.