₦airaland Forum

Good day, great people.

Quick question.

Please I want to start a mini e-currency company but troubled by VAT because I don't won't have a physical office. I work from home.

From what I've heard, if you don't have a physical office, you can't be troubled with Tax or VAT - that's if you don't register with CAC.

Is this right, Please?


I want to know everything at hand cause I'm not ready for any drama with Nigerian institutions or bribing anyone.

Looking forward to hearing from you.

Na true.

I wish you the best.

Lifesquid:
Good day, great people.

Quick question.

Please I want to start a mini e-currency company but troubled by VAT because I don't won't have a physical office. I work from home.

From what I've heard, if you don't have a physical office, you can't be troubled with Tax or VAT - that's if you don't register with CAC.

Is this right, Please?


I want to know everything at hand cause I'm not ready for any drama with Nigerian institutions or bribing anyone.

Gee64:
Na true.

I wish you the best.

Thanks

Lifesquid:
Looking forward to hearing from you.

Hi boss

Are you familiar with PayPal funds

Please apart from fnf PayPal funds, which other types are available

Theophinio:
Hi boss

Are you familiar with PayPal funds

Please apart from fnf PayPal funds, which other types are available

Gns funds what'sapp 09020 4233 25 for more info. I deal on PayPal funds

Dewayy:
Gns funds what'sapp 09020 4233 25 for more info. I deal on PayPal funds

How's gns different from fnf

I heard you shouldn't use fnf. What's the difference

Theophinio:
How's gns different from fnf

I heard you shouldn't use fnf. What's the difference

Alright let me help you with your request.

PayPal gns payment simply means payment for "good and services". Simply put that the receipient is receiving the payment from the sender for exchange or settlement for goods and services.

Now you must understand that PayPal do charges some fees for all gns payments which is deducted from the amount to be received by the receipient only. (The sender do not bear the charges)

But in the case of FNF payment which simply means (payment to Family and Friends), PayPal do not deduct any fees/charges from amount to be received by the receipient. In this case, the sender will be made to pay very small fees in order to send the payment out to the family and friends. PayPal assumes that the sender is just trying to send the funds out as gifts to relatives or friends and it is not treated as payment for a commercial transactions.

dorispray:
Alright let me help you with your request.

PayPal gns payment simply means payment for "good and services". Simply put that the receipient is receiving the payment from the sender for exchange or settlement for goods and services.

Now you must understand that PayPal do charges some fees for all gns payments which is deducted from the amount to be received by the receipient only. (The sender do not bear the charges)

But in the case of FNF payment which simply means (payment to Family and Friends), PayPal do not deduct any fees/charges from amount to be received by the receipient. In this case, the sender will be made to pay very small fees in order to send the payment out to the family and friends. PayPal assumes that the sender is just trying to send the funds out as gifts to relatives or friends and it is not treated as payment for a commercial transactions.

Thanks boss for this detailed explanation �

What about if I want to fund my business PayPal account, which of these two methods is advisable

Theophinio:
How's gns different from fnf

I heard you shouldn't use fnf. What's the difference

please what'sapp me

Theophinio:
Thanks boss for this detailed explanation �

What about if I want to fund my business PayPal account, which of these two methods is advisable

You can use either GnS or FnF to fund your PayPal account wether it's a business account or not.

However, since it's a business account, it's expected by PayPal that you will be receiving commercial transactions payments into your business account which will be treated as GnS by default - this is also because PayPal would love to deduct all the fees/ charges from all your incoming payments into the business account you're operating.

Note: PayPal will seriously frown at you, if you choose to be receiving funds as family and friends quite often into your business account.

dorispray:
You can use either GnS or FnF to fund your PayPal account wether it's a business account or not.

However, since it's a business account, it's expected by PayPal that you will be receiving commercial transactions payments into your business account which will be treated as GnS by default - this is also because PayPal would love to deduct all the fees/ charges from all your incoming payments into the business account you're operating



Note: PayPal will seriously frown at you, if you choose to be receiving funds as family and friends quite often into your business account.

I get your detailed explanation boss

Thank you very much

Theophinio:
I get your detailed explanation boss

Thank you very much

Can you connect with me on WhatsApp?
I've got some things to ask you about.

Kindly send your number to me by email (see my signature below)

dorispray:
Can you connect with me on WhatsApp?
I've got some things to ask you about.

Kindly send your number to me by email (see my signature below)

I wrote you now