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Shortfall in foreign exchange earnings when working with Upwork?
Let's say we send $1000 via WireTransfer to our transit $ account in a Russian bank. $30 for WireTransfer, so we declare $970. But in fact, due to the commissions of the intermediate banks that carry out the transfer, let's say $962, i.e. formally, there is a shortfall in foreign exchange earnings of $8. The commission of intermediate banks cannot be determined in advance.
The general solution known to me is a documentary indication that all commissions associated with the transfer are charged to the sender's account.
How specifically to be in the case of working with Upwork in order to avoid penalties for underpayment?
Thank you.
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In fact, the commission is $30 (or whatever you have specified) and not a cent more.
and what did you get 962 or what?
as far as I remember, the commission was always flat
Choose the bank correctly, for example, it comes to Avangard without additional commissions.
I usually do this when transferring money to an individual entrepreneur's account - when the money has arrived, I look at how much it has arrived - the part that the transfer fee is written at the bottom of the invoice in the following lines:
Transfer fee of the sending bank in amount of $XX is paid by IP Xxx Yyy Zzz.
The commission of the sender's bank in the amount of XX US dollars is paid by IE Xxx Yyy Zzz.
Those. those are the extras. commissions that were lost after the moment the payment was sent. As the main amount of the invoice - what was originally sent.
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