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Normally no, not tax, however there may be bank charges associated with this transaction (these are not taxes).
However depending on the tax laws in your country, if you send a LARGE amount of money to your friend this may have to be declared to the tax departments and there may be taxes to pay.
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Does IRS tax regular IRA distributions?
Yes, IRA distributions are taxable. You do not pay tax while the money is in the account, but you pay tax when you withdraw the money.
How much tax do ypu pay on 26000?
on an estate settlement how much money in tax will i pay on $26000.00
If you receive money from your grandparents do you have to pay tax?
No. They may have to pay gift tax. See discussions under that topic.
When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?
A. A tax refund
Can you pay your tax preparer with refund money?
My refund i paid my tax preparer came back to me why?
What are opinions on price information bureau?
Prize Information Bureau is a scam. Typical "advance fee" scam. They say you won, but you have to send them a fee or pay a tax. You send your money, and they send you nothing.
When you pay off a mortgage do you get the money that is escrow?
Yes. The lender should send you a refund for any funds remaining in your escrow account unless it uses that money to pay a pending real estate tax bill. It's your money.
What is a tax that you pay on the money you earn?
To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.
Does IRS tax regular IRA distributions?
Yes, IRA distributions are taxable. You do not pay tax while the money is in the account, but you pay tax when you withdraw the money.
What type of business needs to pay tax and what type of business do not need to pay tax?
you pay from your job money
Do you have to pay tax on a state tax refund?
only if you itemize. Missour will send a 1099 in January
How much tax do ypu pay on 26000?
on an estate settlement how much money in tax will i pay on $26000.00
Do the wealthy pay income tax?
The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.
If you receive money from your grandparents do you have to pay tax?
No. They may have to pay gift tax. See discussions under that topic.
Who or what will pay for the royal wedding?
The Tax's they take out of your Money.
When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?
A. A tax refund
Do you have to pay tax on money earned by providing a service?
Yes I am afraid so.It does not matter how you make income you have to pay tax on it.
