benaj
Member of DD Central
Posts: 3,589
Likes: 1,160
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Post by benaj on Oct 23, 2020 16:08:27 GMT
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Post by geldregiertdiewelt on Oct 23, 2020 17:52:00 GMT
it's a follow-up to this p2pindependentforum.com/thread/17783/mintos-regulated-marketplace-investingAnd as I said in August: for me this is all stuff Mintos have to do because there's no way to have consistent, profitable business if you're just a loan broker mainly depending on retail investors. Big LOs (Aventus, Creditstar, ...) prefer to top their funding from bonds with some retail investor money, which they can collect themselves (on Peerberry, Lendermarket, ...). They don't need Mintos for that. All that's left for Mintos is Mogo (and other LOs which are kind of the same group of companies as Mintos) and a roster of small LOs which range from shady to shitty. So, my guess is that Mintos want to evolve into some kind of bonds issuer to collect money from institutionals and thus escape the decay of p2p marketplace lending. It will be interesting to see which LOs can follow that move. And I would expect that the change in handling accrued interest will turn away some retail investors because they simply don't understand.
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Post by geldregiertdiewelt on Aug 28, 2021 21:10:56 GMT
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Post by rahafoorum on Aug 29, 2021 6:36:36 GMT
And I would expect that the change in handling accrued interest will turn away some retail investors because they simply don't understand. Not only don't understand, but to me it seems that it'll also affect taxation in a negative way in some countries. Effectively reducing return even more than before.
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Post by captainconfident on May 19, 2022 11:44:45 GMT
Finally, an email from Mintos about taxation of Notes. Withholding tax 20% - 10% - possibly 5%.
In my domicile of Belgium, the tax I pay is a flat 30% of the net interest after withholding tax.
So while I could live with losing the 5%, if it's more I would need to try to reclaim it under the double taxation treaty.
From what I understand of withholding tax, it is difficult to reclaim. Anyone know the process?
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Post by rahafoorum on May 20, 2022 10:23:22 GMT
From what I understand of withholding tax, it is difficult to reclaim. Anyone know the process? If it's similar to the process involving dividends, then it depends on the country where taxes were withheld and possibly your residence as well. You will probably also have to pay some fees for documents or whatnot and waste a few (hundred) nerve cells during the process.
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Post by wiseclerk on May 25, 2022 13:18:40 GMT
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