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I Want To Start A Small E-currency Company - Troubled By VAT?? (497 Views)
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Lifesquid: 10:48am On Dec 12, 2021 |
Good day, great people. Quick question. Please I want to start a mini e-currency company but troubled by VAT because I don't won't have a physical office. I work from home. From what I've heard, if you don't have a physical office, you can't be troubled with Tax or VAT - that's if you don't with CAC. Is this right, Please? I want to know everything at hand cause I'm not ready for any drama with Nigerian institutions or bribing anyone. |
Lifesquid: 12:33pm On Dec 12, 2021 |
Looking forward to hearing from you.
|
Gee64: 2:51pm On Dec 12, 2021 |
Na true. I wish you the best. Lifesquid: |
Lifesquid: 4:36pm On Dec 13, 2021 |
Gee64: Thanks |
Theophinio(m): 10:53pm On Jan 31, 2022 |
Lifesquid: Hi boss Are you familiar with PayPal funds Please apart from fnf PayPal funds, which other types are available |
Dewayy: 7:40am On Feb 01, 2022 |
Theophinio:Gns funds what'sapp 09020 4233 25 for more info. I deal on PayPal funds |
Theophinio(m): 11:54am On Feb 01, 2022 |
Dewayy: How's gns different from fnf I heard you shouldn't use fnf. What's the difference |
dorispray: 2:05pm On Feb 01, 2022 |
Theophinio: Alright let me help you with your request. PayPal gns payment simply means payment for "good and services". Simply put that the receipient is receiving the payment from the sender for exchange or settlement for goods and services. Now you must understand that PayPal do charges some fees for all gns payments which is deducted from the amount to be received by the receipient only. (The sender do not bear the charges) But in the case of FNF payment which simply means (payment to Family and Friends), PayPal do not deduct any fees/charges from amount to be received by the receipient. In this case, the sender will be made to pay very small fees in order to send the payment out to the family and friends. PayPal assumes that the sender is just trying to send the funds out as gifts to relatives or friends and it is not treated as payment for a commercial transactions. |
Theophinio(m): 4:36pm On Feb 01, 2022 |
dorispray: Thanks boss for this detailed explanation � What about if I want to fund my business PayPal , which of these two methods is advisable |
Dewayy: 5:03pm On Feb 01, 2022 |
Theophinio:please what'sapp me |
dorispray: 6:43pm On Feb 01, 2022 |
Theophinio: You can use either GnS or FnF to fund your PayPal wether it's a business or not. However, since it's a business , it's expected by PayPal that you will be receiving commercial transactions payments into your business which will be treated as GnS by default - this is also because PayPal would love to deduct all the fees/ charges from all your incoming payments into the business you're operating. Note: PayPal will seriously frown at you, if you choose to be receiving funds as family and friends quite often into your business . |
Theophinio(m): 7:14pm On Feb 01, 2022 |
dorispray: I get your detailed explanation boss Thank you very much |
dorispray: 8:16pm On Feb 01, 2022 |
Theophinio: Can you connect with me on WhatsApp? I've got some things to ask you about. Kindly send your number to me by email (see my signature below) |
Theophinio(m): 8:20pm On Feb 01, 2022 |
dorispray: I wrote you now |