IP work. How to cash out currency and how does the tax treat it?

Question

Individual entrepreneur

Hello everyone,

I'm interested in the experience of people who already work/worked on IP for American companies and received income in dollars. I open an IP account at a point and approximately monthly I will receive ~ $ 5500, my plan was as follows:
The money goes to the account at a point, I transfer all the currency to my physical account. card to the opening, I go to an ATM, withdraw cash in dollars and put them on the alpha bank card.
At a meeting with a representative of the point, he said that he advises withdrawing no more than 30% of the funds in this way, otherwise the tax office may start to worry about where I withdraw this money and start asking many questions / asking to appear in person at the tax office.
In general, the question is - is the representative telling the truth about the tax? how do i withdraw my money and keep it in alpha without problems / extra fees ?
Please share your experience if possible.
Thank you!

PS alpha bank for me is something like a piggy bank, so I want to do it this way, I don’t want to store everything at the opening, as well as store more than 5-10% of income at a point.

Answer 1

If you work officially, i.e. pass currency control and pay all taxes, then there will be no questions for you. And even if they are, then you have all bank statements.

Answer 2

and it’s not easier in the same online banking point (bypassing cash) to transfer your details to alpha and indicate the transfer of your own funds in the destination. profit, and the commission is not so big for peace of mind

Answer 3

I use my IP card, because Tinkoff called and asked me to do this, but I don’t really care.
Prior to that, out of habit, he displayed a physicist on the map in the same Tinkov.
So, yes, bank managers are worried for a reason, apparently. I can assume that this falls under the suspicion of financial monitoring, because paper dollars cannot be traced in any way. That is, every month you receive n money from another country and spend it on who knows what.

Answer 4

The question "where do you transfer there" will be asked regardless of the amount of the transfer in dollars, because a currency transaction = currency control, for which you will pay at least $40, which is close to the total spread from banks.

Answer 5

The bank manager is interested in the client feeding his bank, and not some other. Therefore, to the best of his imagination, he can tell any horror stories just to keep the client's money in his bank. In the end, this is one of the kpi indicators of this manager -> his bread)

Answer 6

To the account 30% in cash - this is not only about currency. You can spend points directly from the card or transfer yourself to Tinkoff - why do you need so much cash? I had a year when I rented a lot for my developer, I was put on the yellow list at the point. After yellow, there is also red. Red is a denial of banking services to you.
And this is not the tax department, but the department for combating economic crimes. Do you know that LLCs, for example, cannot spend money from their account except for salaries and expenses? The salary is heavily taxed, but you can transfer money to some individual entrepreneur under the guise of having provided services, so that he withdraws money in cash, paying a tax of only 6%. This scheme is called cashing out and is a crime, it is being fought, because of which every individual entrepreneur who withdraws all his money in cash falls under suspicion.