Hello, I'm from pakistan and just a new user of upwork. I just add my Payment Method today and after completing the process under "Get Paid" tab, I got the following alert "In order to withdraw earnings, please complete a W8BEN Foreign Status Certification." and when i click on that link following message appear "Before withdrawing funds, all non-U.S. persons must provide their W-8BEN tax information." and there is one text filed with label "Legal Name of Business" what should I type in this field?? I am struck now
Your assistance in this regard will be highly appreciated. Waiting for response.
How do I apply for a VAT Number? I am a student from Bangladesh, currently studying my Bachelors in the United Kingdom. Also, can you provide any insight on the VAT Number?
I suggest you talk to a tax specialist or an adviser in your school to make sure your status as a foreign student allows you to legally work while you are in the UK and whether it's necessary for you to get VAT number.
You may need to consult with a local tax adviser regarding taxes you need to pay on your income as a freelancer on Upwork and withdrawal fees would depend on the payment method you select for your account. Upwork charges a Service fee, which is 20% on first $500 this client pays to you, 10% between $500.01 and $10,000 and 5% once the amount of billings with this client exceed $10,000.
Please, check this Help Section for more information.
Does it mean I just need to put my legal name based on all of my valid ID's also? Thanks. I highly appreciated your help. I just want to be 100% sure on this matter.