You should report all the payments received from Winglio and pay the applicable personal taxes in your country of residence.
Withdrawals & Taxes
What is the nature of a withdrawal from Winglio, i.e. how should I report the money received from Winglio to my local tax authority?
If you are a regular user using the Professional plan, all withdrawals from Winglio balance are considered and paid to you as your secondary income. However, if you are a shareholder of the Winglio company then you can choose in each withdrawal request whether you want your balance to be paid out as a secondary income or dividend. In that way, you can optimize your personal tax duties in your country of residence.
Is there any difference in the amount of money I will receive on my bank account as a dividend compared to the withdrawal as a secondary income?
If you withdraw money as a dividend you will receive 3% less money on your bank account compared to the withdrawal as a secondary income since the additional 3% Dividend Withdrawal Fee will be charged. For example, if your client paid 10k EUR to Winglio, you would get 9,331 EUR as a secondary income or 9,050.94 EUR as a dividend.
The minimum amount you can withdraw from Winglio is 10 EUR.
Bank account owner details for withdrawal purposes have to be the same as the ones on your profile details.
You can withdraw your funds to any personal bank account under your name in any country, it does not have to be your country of residence. If you create a withdrawal request to your bank account which is in a country outside the SEPA, the additional International transaction fee (15.50 EUR) might be charged. In order to avoid additional withdrawal costs to countries outside the SEPA, we would recommend opening an online bank account with one of the following service providers: Leopay, N26, Paysera, Revolut, or Transferwise.
A withdrawal request is usually processed on the same or the next working day. SEPA payments are usually visible on your account on the same or the next working day while the international payments can take up to 1-2 days.
May I still invoice my clients from any Winglio company if I become a shareholder of Winglio Malaysian company?
Yes, as a shareholder of Winglio Malaysian company, you can use any Winglio company for invoicing your clients. No matter which Winglio company you use for sending invoices, you will always receive payouts (dividends or secondary income) from the main Winglio Malaysian company.