p40l0m4r
Member of DD Central
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Post by p40l0m4r on Oct 29, 2017 9:17:57 GMT
I aggree with kuleruket, adding that for me financial reports are more important when higher is the % of loans buybacked in the history, situation in which I have to know how are the resoursces available to cover my investments.
In the finbee case this % is very low so, also if this lack of informations doesn't give points in favor to it, my perceived risk is not unsainstanaible now. I don't have instead enough experience with lenndy.
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Post by red_panda on Oct 30, 2017 11:56:28 GMT
One issue I have with Viainvest is that they withhold taxes from interest immediately. The tax rate seems to be ~23%, which is more than taxation in my country.
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Post by buttchopf23 on Oct 30, 2017 12:21:04 GMT
Not if you give them the required tax certificate. But it is weird that they withhold in any case until you get the certificate approved.
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Post by red_panda on Oct 30, 2017 13:50:36 GMT
I just approached Viainvest for some clarifications on this, but I find it odd that other loan originators in Baltics don't withhold tax at all and leave the tax responsibility all to me without the need of providing any tax certificate.
Edit: Got a reply, all is clear to me, and yes, if I provide a tax certificate they will not WHT for all, but Polish loans, where apparently they would WHT 5% for me - I suppose that's a bilateral tax agreement between Poland and my country.
Either way, the fact that Viainvest goes this far in regards to WHT and tax certificates, either hints that other Baltic platforms don't follow up on some of their regulatory requirements, or that Viainvest goes beyond their necessary requirements.
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Post by buttchopf23 on Oct 30, 2017 14:55:28 GMT
True, I forgot to mention the polish exception.
As in regard to regulation: A lawyer told me that there is only a draft in place for the regulation, which is followed by via. In his opinion via does it correct and other platforms will follow once the law is in place. This is just hearsay from me, I am not competent in the regulatory field.
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kulerucket
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Post by kulerucket on Oct 30, 2017 18:48:53 GMT
I just approached Viainvest for some clarifications on this, but I find it odd that other loan originators in Baltics don't withhold tax at all and leave the tax responsibility all to me without the need of providing any tax certificate. Edit: Got a reply, all is clear to me, and yes, if I provide a tax certificate they will not WHT for all, but Polish loans, where apparently they would WHT 5% for me - I suppose that's a bilateral tax agreement between Poland and my country. Either way, the fact that Viainvest goes this far in regards to WHT and tax certificates, either hints that other Baltic platforms don't follow up on some of their regulatory requirements, or that Viainvest goes beyond their necessary requirements. It was fairly painless for me once I found the correct form for the German tax authorities. I have read somewhere that Via are ahead of the regulations so I expect other platforms will follow in due course. Unfortunately I cannot find the source of this information.
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Post by buttchopf23 on Oct 31, 2017 9:11:13 GMT
kulerucket: this is exactly what a baltic lawyer told me during a chat. He is not related to via, but to another latvian platform. So I guess the guys know what's maybe coming and are prepared. Are we investors too?
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Post by moneymakingmoney on Nov 1, 2017 1:09:31 GMT
One issue I have with Viainvest is that they withhold taxes from interest immediately. The tax rate seems to be ~23%, which is more than taxation in my country. Which country are we talking about?
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Post by red_panda on Nov 2, 2017 1:53:20 GMT
One issue I have with Viainvest is that they withhold taxes from interest immediately. The tax rate seems to be ~23%, which is more than taxation in my country. Which country are we talking about? The 23% WTH is for Latvian loans.
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Post by buttchopf23 on Nov 2, 2017 6:55:15 GMT
Which country are we talking about? The 23% WTH is for Latvian loans. I believe WTH is applied on all loans if you have no certificate (5% for polish loans even with cert.). Plus as I understand the WTH does not mean you don't pay taxes in your country. I am no expert on taxation though
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IFISAcava
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Post by IFISAcava on Nov 2, 2017 7:50:19 GMT
So does that mean Mintos, being based in Latvia, will likely be applying a withholding tax at some point? Tax certs can be a real pain.
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Post by moneymakingmoney on Nov 2, 2017 8:22:38 GMT
The 23% WTH is for Latvian loans. I believe WTH is applied on all loans if you have no certificate (5% for polish loans even with cert.). Plus as I understand the WTH does not mean you don't pay taxes in your country. I am no expert on taxation though So it really doesn't matter where you are living,they will withhold tax. What if your country doesn't provide certificates for tax on investments
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p40l0m4r
Member of DD Central
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Post by p40l0m4r on Nov 2, 2017 11:28:32 GMT
It will be really weird if they whithhold taxes no matter where you're living because consequenties may change country by country.
More or less any nation has an agreement to avoid duplicated taxes with another nation for the cases of income made in the second nation by a resident in the first (exeptions usually are if you're resident in a country with privileged taxation i.e Virgin Islands, Macao, etc.).
To know which are the consequenties you have to read that agreement made by your country with (in the case mentioned) Latvia.
Normally, in presence of those agreements, if nothing different is mentioned, if you're being withholded of an amount in one country you have to deduct that amount from the taxes you would have to pay (for that specific income) in your country. The trouble will be you have to present documentation as proof of taxes paid and this documentation has to be recognised by your tax authorities. And this last is not so obvious (I'm writing from Italy).
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p40l0m4r
Member of DD Central
Posts: 63
Likes: 16
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Post by p40l0m4r on Nov 2, 2017 11:39:45 GMT
One issue I have with Viainvest is that they withhold taxes from interest immediately. The tax rate seems to be ~23%, which is more than taxation in my country. If the % of taxation withholded is more than the one in your country, usually you have the right to receive the difference in your country, but it may change from where you're living. Anyway ask to a consultant for your specific situation may be the best choice.
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Post by red_panda on Nov 3, 2017 8:33:09 GMT
The 23% WTH is for Latvian loans. I believe WTH is applied on all loans if you have no certificate (5% for polish loans even with cert.). Plus as I understand the WTH does not mean you don't pay taxes in your country. I am no expert on taxation though Well EU countries have double taxation agreements between each other, so as far as I understand, if the WTH tax is higher than what you would pay tax locally, you do not pay additional tax, but if it is lower, you pay locally the difference.
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