Money withdrawal and taxes in North Macedonia

[beyzaali]

Hello, i'm a freelancer from North Macedonia and i'm new to Upwork. I addad wire transfer as payment method, but for every milestone that i complete i need to pay high taxes (especially since i'm doing small jobs). I would appreciate if freelancers from Macedonia can share their experiences and advices with this problem. Thanks in advance.

[viktorija_c_a · Accepted solution]

Hi Beyza,
I've been working on Upwork for almost 6 years. I use the Payoneer card with which you can withdraw money from every ATM in your city or anywhere you want. I've never had issue withdrawing money from ATMs, but for every withdrawal, there's a small fee that is deducted. You can read more about that on Payoneer's website.

I'd also like to ask you whether you have already withdrawn money to your local bank account. If yes, what were the fees associated with it, apart from the $30 fee Upwork takes? Thank you.

[beyzaali]

Hello, thanks for the response. I appreciate it. I am new to Upwork, i just got my first job and i haven't withdrawn any money yet. But my brother is working in Halkbank and he told me that for every withdrawal i will need to pay 300 denars, it doesn't matter whether i am withdrawing 10 dolars or 1000 dolars, which is a lot. That's why i was looking for an alternative way. 

[viktorija_c_a]

If it's only 300 denars, it'd be perfect. But, I've received money from Australia via another bank and there were additional charges of $30. When I asked the bank, they told me that the intermediary banks deduct from the transferred sum as their fee. I plan to try to withdraw via wire transfer and will see what happens. Thanks for your reply. Good luck on Upwork!

[viktorija_c_a]

Hi there, I've been working on Upwork for almost 6 years and been using Payoneer to withdraw money. However, now, I'd like to withdraw money to a local bank, on a foreign (USD) bank account. Has anyone from Macedonia done this before? If yes, were there any additional charges aside from the $30 that Upwork takes?

I would really appreciate your answer.

Thanks in advance.

[beyzaali]

Thank and good luck to you too 🙂

[beastojanovska]

Hii Viktorija, do you mind sharing the experience you had with withdrawing to your local bank account? Did you have to report the withdrawl on the yearly tax report and if so what was the document you had to provide and how was it detailed? 

Thank you in advance, 

[beastojanovska]

Hello, do you mind me asking if your brother had to report the withdrawl from Payoneer to the Halbank account? And how was it reported for the yearly tax report? I am having issues finding the appropriate document for the public revenue office?

Thank you in advance. 

[beyzaali]

Hi, sorry for responding this late. I hope you have solved your problem. My payment method was wire transfer and I withdrew the money from my Halkbank account. I didn't use Payoneer. My brother asked if there was any document that shows how I got that money and I told him about the payment report Upwork provides. He said that it would be enough. Because for higher amounts of money the bank asks for a document about the transaction (like why are they sending you this money). I hope this helps.

[donnyrxta]

There are a few payment options that you can consider as a freelancer in North Macedonia, which may have lower fees compared to wire transfer:

1. PayPal: PayPal is a widely used payment platform that allows you to receive payments online. It is generally faster and cheaper than wire transfer, especially for small amounts. You can link your PayPal account to your Upwork profile and receive payments through PayPal.

2. Skrill: Skrill is an online payment platform that allows you to send and receive money internationally. It is generally faster and cheaper than wire transfer, especially for small amounts. You can link your Skrill account to your Upwork profile and receive payments through Skrill.

3. Payoneer: Payoneer is a financial services company that offers a prepaid debit card and an online payment platform. You can use Payoneer to receive payments from Upwork and withdraw the funds to your Payoneer card or bank account. Payoneer may have lower fees than wire transfer, especially for small amounts.

It is important to note that each payment option may have different fees and limitations, and you should consider which one is the most cost-effective for you based on your specific needs. You may also want to check with your bank to see if they offer any lower-cost options for receiving international wire transfers.

[b8c7ab51]

Hi Beyza, do you know how can i find TIN (tax identification number) im also from Macedonia ?

[0e167612]

Yeah i'm looking for this as well, would be nice if someone could help

[5593a4fa]

Hi Ard,
I was wondering the same, but couldn't find any specific answer.

I just tried the IBAN, MK07 and then added my bank account number.

I hope this is the TIN Upwork is looking for.

[e0849487]

Hi Beyza,

I wonder how did you solve your issue with money transfer in mkd.I'm new on upwork,just did my profile yesterday and not familiar with this kind of payment.

Will appreciate if you share some insight about the topic.

Thank you.