I’m a new user to this forum, and I was wondering if I should pay taxes on online winnings from binary options and forex as they are from companies not in Taiwan.
Some additional information to clarify my situation; I moved to Taiwan at the end of last year (2019) using the 90 days visa exempt scheme, and my only source of income are online winnings from companies not located in Taiwan.
So I guess my real question here is, do I need to pay taxes? Normally I would say of course, but since it’s binary options and forex which is categorized as gambling in so many countries, I’m not really sure what to think. Any help much appreciated
Are you asking because your funds are being transferred into a local bank account and you are being asked to explain the source of the funds? i.e., whether it is income?
No one has asked my any questions yet, I’m just trying to be as legit as possible and file taxes if needed. But that’s the thing… Since it’s online winnings and not exactly a ‘salary’, do I need to?
Yes, the funds are in my account in Taiwan I opened when I was a student in Taiwan 10+ years ago. I’ve only been “really” living here since the end of last year.
Now please stay on topic here. I’m inquiring to whether or not I need to pay taxes of the winnings, nothing else please.