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Old 05-13-2015, 02:57 PM   #1
Junior Member
Join Date: May 2015
Posts: 2
eWallet taxes on the WEBsite

Dear Sir/ Madam
I have several questions about taxes.
I want to open a business which connected with IT (it is a WEB site).

Every user of this site have an eWallet which can be used to earn or spend money in the site.
If user want send money to his eWallet he use Visa or MasterCard.
If he want to withdraw money he send money from his eWallet to his bank account (used Visa or MasterCard).

I want to know which taxes I have to pay.
I know that I have to pay tax on profits.
1. Should I pay some sales taxes or something else when person transfer money form bank account to his eWallet account or form eWallet account to his bank account?

2. Should I pay some taxes when person spend/earn money in the site?

3. If somebody will buy web services in my site from other state/country then I have to pay something to other state/country? Or how it is work?

4. If people give me money for saving is there are any taxes?

I look forward to any response.

Kind Regards
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Old 05-13-2015, 04:16 PM   #2
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Posts: 23,522
Default Re: eWallet taxes on the WEBsite

I wish to inform you that you will have to pay taxes for profits earned by you. Further your liability for tax on goods and services may apply if you are selling something. If goods or services charges are not being charged then you are not liable for anything. Transfer of money from visa card to eWallet and from eWallet to visa may not result in sale of any goods or services. When your customer will spend money in purchase of anything from eWallet then taxes on sales will arise. If your vendors are selling then they will charge tax because they are seller and your eWallet is only a platform to sell. If you are selling yourself any web service then you are liable for paying taxes on such goods or services.

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Old 05-13-2015, 06:17 PM   #3
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Default Re: eWallet taxes on the WEBsite

Thank you alot for your response! Your answer is very helpful.
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