Following on from the Paypal episode, Payoneer has now been blocked for POS (and soon ATM) use by Indian authorities. Please comment on: whether your card is working for POS and/or ATM experience with reverting money from Payoneer to 2co, odesk, Plimus, etc alternatives to Payoneer (that work the same or differently) Indian government's role: strangling the small entrepreneur?
Probably its a step taken by RBI with respect to security. Payoneer should infact work with RBI to form a proper identification system for each user and thus I am sure like paypal was back-in-action payoneer will also work.
The problem, I guess it due to the companies who abused it. The companies work at odesk, elance, etc., make a lot of money and use Payoneer to escape from the tax authorities. I expected this to happen, but thankfully it happened much quickly. I still use Payoneer for international online transaction. Also, it works well with Paypal. So, basically, I'm not going to be affected by this move. Just those who abused it. -- Pothi --
This was surely going to happen sooner of later with companies trying to evade taxes, I don't know if the Payoneer card is still working on ATM's, has anyone tried ?
Sorry for going off topic but just one question: Aren't overseas payments excluded from taxes in India?
No. You have to pay income taxes. But there are certain exemptions available under specific sections of the tax code. However, you can be exempted from service tax and excise taxes.
I just got my card today .. nd i am really sad to read this thread .. Thankfully.. i have not loaded my card from envato .. BTW.. will they cut the fees if I have not activated it .. and have $0 in it?? also. I got this card mail to my home. not by airmail.. but from some address of Shillong .. i hope it is ok ..
If the Service Receiver is in India but the Service Provider is outside India, And if the Service is covered by Service Tax Laws either in the Financial Act 1994 or any other Cirriculum, then the Service Receiver is Liable to pay Service Tax.
That's really sad, Indian people are lovely people, Indian techs are professional and we all love Indian techs, but how come all the sudden Paypal and Payoneer ignore such a big market?
Payoneer Cards are blocked now and money stuck with Payoneer now, checked last night and it is showing up as Invalid account.
it's not about the PayPal or Payoneer, it's about our Reserve bank of India, which is forcing all international payment processors to give the identification of all the payment recipient so that they can tax them.
And as someone rightly said above, it was supposed to happen sooner or later, we cannot entirely blame Reserve bank of India. It is very important identify each and every users who is receiving international payments because nowadays terrorists are also using these methods to receive the money.
Really? I didn't know the Taj terrorists made withdrawals when they landed in the city. Actually, the Reserve Bank is just tightening the grips on the little man with things like 200 Rs. fees while ignoring the trillions of rupees stored in Swiss banks.
This is RBI that makes the regulations, There service providers would be affected the most, I am sure they will come up with some resolution to the issue sooner
I hope so, as last year there were some problems between the RBI and PayPal does PayPal was not available for around a month. After one month of negotiation PayPal sorted out with RBI and now we need to put those purpose codes and PAN card information in the PayPal account. I have also heard that the new users cannot create a PayPal India account without PAN card number ( I don't know it is true or not)
I guess you are right, its all about taxes, probably the same thing will be applied to other payment processors as well, Neteller prepaid cards will cease to work from Feb 14 as well