Double taxation is the worst thing that can happen for young entrepreneurs. Its a good thing to sort it out early as steve mentioned.
On Wed, Oct 1, 2008 at 7:02 AM, Steve Oldmeadow <[EMAIL PROTECTED]> wrote: > > > > On Oct 1, 12:42 am, niksbin <[EMAIL PROTECTED]> wrote: > > - Selling your applications via Google's 'Android Market' > > Marketplace > > (it's worth a try; remember a > > $5.00 app with just 1,000 users makes you $5,000, etc.) > > > > The forumula is a bit more complex than that, particularly if you > reside in a different country to the store you are selling in. You > may need to pay tax on your earnings in the country you earnt the > money and your country of residence - look into double taxation > agreements. > > You also need to consider how you will be paid the money and if your > bank will charge you fees. For example some content stores will > automatically send you a cheque once you have earnt over $100 but I > have seen bank fees of over $40 for cashing a foreign cheque so you > could potentially lose 40% of your earnings to bank fees if you are > with the wrong bank. > > If you are thinking of selling in the Android Market my advice is to > check into double taxation (i.e. W-8BEN form) and get a US currency > bank account with low fees. It can take months to get the taxation > exemption paper work sorted out so now is the time to look into it. > > > -- take care, Muthu Ramadoss. http://mobeegal.in - mobile search. redefined. +91 98403 48914 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Android Discuss" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/android-discuss?hl=en -~----------~----~----~----~------~----~------~--~---
