"Paypal India Update:From comment on Hobo Blog Post
With effect from 1 March 2011
1) Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services.
2) Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction."
As much as I know is paypal a German creation, has something to do with ebay. Made for paying this tiny bills from some pence to a few quit, typically for ebay. The classic ways in Germany to pay that was a pain, often the costs for the transfer by bank was multiple the amount of the bill for the goods. Now I hear on other websites, where people used it for paying their wages in ranges of 700 bucks, that this is not welcome from paypal. They say there that there a business accounts and so on, for fees ... I do not know details.
There may be some reasons, I guess: They cannot really control who is receiving the money (actually getting it). In the worst case they have to bring the lost amount forward. That can be huge amounts because the sheer number of actions.
They have also to pay taxes based on the profit, what will be gigantic if they are handled big amounts.
I am also not surprised if they have not the infrastructure like a bank to deal with large amounts of electronic money. (That requires somewhere an equivalent backup in real money)
Then is it right that they have to pay taxes too in their branches abroad. In the end kills all this the original idea of paying tiny amounts with mini fees.
I would not use paypal. But another working method for paying international would be fine, much cheaper than moneygram or this cheating bank system.
Sending money to me (foreigner) in Nigeria from my own account in Europe and picking it there is nearly impossible. I need to collect this through locals, with all the risk and hassle.
Xoom: Not many countries in Africa listed. So out of interest for me, at the present time.
Fear, confusion and division helps those who "rule" and maintain their Status Quo power. The way I see it such loopholes and thousands of pages of tax laws keep "the working man" who is exhausted by his work and daily responsibilities in his place of ignorance about how the small minority holding the power are able to avoid and evade such taxation whereas he's too tired. The TWO most revolutionary acts to really CHANGE the way things are in the USA is, one, a STRAIGHT TAX like the way Hong Kong was managed before China took over where a citizen who makes U$10,000 and a citizen making U$1million use a simple calculator to come to their tax responsibility. And two, FREE and / or EQUAL AIR TIME for all political candidates and any politicain spending over the limit is automatically deemed ineligible.
Plain old human nature and common sense is nearly universalNOBODY WANTS TO PAY TAX to governments whose protected and secure employees follow "OPM" ( other people's money ) gross spend-a-holic conspicuous spending. The last time I checked 10 million Americans do NOT file federal income tax and are pretty much left alone if they keep their mouths shut an old friend of mine hired an attorney years ago challenging the whole system accepting that constitutional law was the highest law of the land and basically ended up in a stalemate. The taxation laws worldwide are INSANE written, passed and enforced by a small percentage of the population on behalf of even a smaller percentage of the elite land and corporation owners.
Bill, I for years have been musing around in my head the idea of whether to rise above on nation. I have zero problem paying taxes to the USA, I know this is what pays for schools, police and roads, which allow business to function.
I do not understand the rules of taxes, and I do not believe it possible. I want to pay taxes, I think the idea of saying the are non-constitutional is just an argument put forth to avoid paying money because they are greedy.
However, to be a renaissance man, a global citizen may be realized when a person decides to no longer play along.
I would love to go offshore, the problem is this, the offshore countries again make a 1000 rules to obey also.
In the end, it may be the wise man, it is also the greed man doing the exact same thing, just avoid taxes with loophole and common senses. The righteous, the naive may need to continue to pay taxes, because of a sense of respect for the government.
I do not disrespect the USA government, I do not disrespect, I just know it is wise to stay out of the way of the juggernaut of forms and paperwork.
Rising above governments maybe is to decide to not play into the hands of the system when possible, always accepting a country will extract cash whenever they can put me between a rock and a hard place.
I do not believe there is a conspiracy or group, there is nobody that smart on planet earth.
The ways to pay people are different than sending money back to family. Highly Trusted people, give them an ATM card from your home country, then put money in the account. Temporary Employees is Western Union. I only hire workers in countries that accept paypal.com or xoom.com. These are obviously good vetted countries to deal with, the ones outside of that are too risky to need.
Importing, it is possible to go to any country with about 10,000 dollars and carry the items home.
Obviously sending money home is very common, and this should be done by ATM card, not by Western Union or Check.
This is highly confusing, and exactly the way to make money if you are a moneychanger.
Overall, there has been a devolution in the internet financial transaction system imposed by governments.
The U.S.government's recording requirements are ridiculous. If I hold foreign bank accounts in several countries to conduct transaction for business and travel I must report it whether I have
I feel there a downside of flagging out the jobs to certain countries. In this countries is no one building well roads, hospitals, schools, recreation areas, health insurance systems, waste water systems, drinking water systems, and the list can be longer. This is all done in Europe and US, and all that needs money. Because governments cannot make money they need to use the taxes. I do not see a bad thing in giving that for the above purposes.
But I see that this Indian poeple work for a fraction of my costs, not that they are better than me, no, only they do not care for all that above. The result is a pretty unfair situation. I am working hard and good, but I cannot afford more than a council flat, no holidays for my kids and my car is closed to the African condition.
This cheap do not care ones in certain countries ruining only a well working system, the above named.
I believe they have to pay a lot of money for that (taxes, insurances, ...), so it does no longer matter, in which country someone is doing the job: Same system everywhere, and so the same costs. And then it depends only how good someone is doing the job. Better results, higher income. Not less how I am facing it now! Andy, you are not supporting the world, you are helping to bring social systems down where they where made from hard working and well thinking people...
Just pay only people you know they pay their taxes, health system, road workers, waste removers, schools, and so on. I am late to church now.
America has started the long process down, endless recession because it refuses to believe there exist people who can do a better job cheaper. Microsoft, HP, airlines accept this and the 10 unemployed in the USA think they do not need to compete. They will accept a 7 dollar job eventually and the USA will be competitive again.
There is misconception that India does not have the money to build roads, clean trash, build hospitals and other projects.
India has a HUGE amount of money.
A corrupt Indian government, a corrupt legal system and a corrupt police force is the problem. Money is wasted on badly planned projects. Money is spent on bribes.
Public opinion is weak, bad projects are never stopped. And those who can stop them are bribed.
India does NOT need more money. It needs less.
Where is India heading and why is it getting expensive?
In June 2008 India's Finance Minister, P Chidambaram, offered his hallucinatory vision of a poverty-free India, 'an India where a vast majority, something like 85 per cent, will eventually live in cities