Hello all.Please,can you clarify this for me?I live in Romania and i sell photos on different websites.My question is:I must pay taxes in my country for my incomes from microstock even if on some agencyes i signed tax forms?Please tell me because i dont't find this information anywhere.Thank you very much.
As far as Australia goes, ANY income has to be declared .....but you can also claim deductions (for repairs/capital expenditure/etc) against that income. If you put a photo up for sale on a microstock website, then it's certainly not a hobby
See the Tax Center in the Management area. Romania has a 10% tax treaty with the US, so your US withholding tax will be reduced by 10%. You still need to pay your regular Romanian income tax on the money you earn from Dreamstime. And it does not make any difference if your earned income is from a hobby or regular job. It's still earned income.
I think that hunger (for money) exists everywhere. The hobby vs business test depends on a lot of things but even if that applies in Romania, you should really prepare your paperwork as if it is treated as income and leave it up to your account to decide whether it can be treated as a hobby. Good luck with it :)
Thank you very much:)I will do that
The tax forms that you signed are so that the agents can withdraw a percentage of tax according to the treaty between Romania and the US (if any) from the sales you make to US buyers only. If you do need to pay tax in your country then you may be able to claim the tax you paid on your US sales back as a tax credit. You need to check with your tax accountant or your tax department. Also, Im not sure what the tax laws are like in Romania, but if theyre similar to ours (Australian tax laws), then you may not have to pay tax at all if what youre doing is considered a hobby. Again, you should contact your accountant.
Thank you Sunnymars for the answer and i don't think Australia is like Romania.Here is a ''hunger for money'' so i guess is not considered hobby:)I hope only that you are right
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