Enlarge imagewhat money transfers attract the attention of the tax authorities

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Apuroos2176
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Enlarge imagewhat money transfers attract the attention of the tax authorities

Post by Apuroos2176 »

Which transfers are not taxed:

Cashback from a bank - is considered a discount, not income.
Debt repayment - here you first spent money, and then got it back. That is, you did not earn anything.
Transfers between family members - are not considered income, since by default this is common money.
Transfer from an individual entrepreneur's card to the account of saudi arabia whatsapp number his individual - there is no taxable base, because taxes have already been paid on this money.

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Refunds - this can be either an erroneous payment or a refund from online stores or other services.
Another issue is gifts. They are considered income, but gifts are not subject to personal income tax, regardless of the amount. The Ministry of Finance confirms that gifts do not even need to be included in the declaration.

Also, alimony (regardless of whether they are received by court order or by oral agreement) and income from the sale of vegetables and fruits from a personal plot are not subject to personal income tax.

The sale of property requires the payment of personal income tax in some cases. But only if the seller received income. That is, the item was sold for more than it was bought for. And only if less than three years passed between the purchase and sale.

More on this topic
Personal income tax.
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