Is Passive Income Taxable in Your Country?

[Golden9]

Passive income is mainly earned in the form of interest, real estate returns or dividends on stock bought. Some people also earn passive income online now by blogging, vlogging or selling ebooks.

Some countries may tax money earned as passive income, but my country has poor tracking systems for this. This means most people keep all the money they earn passively.

 

[sofiko]

Passive income in Ukraine is subject to taxation. This means that when receiving income from passive sources, such as interest, dividends, rent or royalties, a person must pay personal income tax (PIT) and military service. Tax rates may depend on income level and other factors.

 

[timewo]

At present, all my banking and other transactions are very closely monitored, so I pay taxes on all my passive income. It is safer to do so, since otherwise frauds may claim to own the income.

 

[olaniyi]

A passive income will be taxable if it is related to bank transfer because for every transaction in my country bank cut charge but if the payment is by cash and you are free

 

[Stardom22]

Sincerely speaking I have learned that the government of Kenya looks for taxes in every corner. They would charge a Whooping interest of about 15% on the return on investments, profits or interests earned.

 

[Suba]

The object of tax is income, so passive income is also income that will be taxed, be it interest tax on savings, deposits, bonds, dividends, crypto etc. So there is no difference between active and passive income as a tax object.

 

[Authenticity101]

My country has poor tracking system for passive income. Especially those that you earn online. That is why most content creators earn so well but they are not taxed. Though there have been talks lately of taxing them.

 

[Bisolami]

Passive income is mainly earned in the form of interest, real estate returns or dividends on stock bought. Some people also earn passive income online now by blogging, vlogging or selling ebooks.

Some countries may tax money earned as passive income, but my country has poor tracking systems for this. This means most people keep all the money they earn passively.

It is taxable in my country but it will not be paid directly by the investors. It will be paid by the company but with the money that the investors have used to invest in the company

 

[Rubz]

Honestly, i don't know if passive income is taxable in my country. This is because i do not earn through passive income. I feel it would be taxable in my country though.

 

[nomad]

IN my home country, all kinds of income are taxable, the only difference is how much tax you are required to pay. If you collect rents from properties, you will have to pay taxes on the rents you collect