Fenix International

Apr 17, 2023

April 17, 2023 A World economy approached the National Tax and Customs Administration (NAV) with the question of how a person who, as a creator, uploads content to a social platform specializing in adult content, operated by Fenix ​​International Ltd., registered in the United Kingdom, should be taxed. András Péter Kis, NAV spokesperson, indicated that OnlyFans models, as creators, receive their income from abroad, so they can choose from two options: The latest news of the economy and business life in the Napi.hu newsletter. I subscribe We have sent you an email! Open it and click the Subscribe link to confirm your subscription. You will then receive the Napi.hu Newsletters morning and evening. become an entrepreneur (either as an individual or as a company); or they pay the public charge according to the rules of the personal income tax. If someone publishes content as an additional activity, this probably does not create a business, but since his income comes in regularly, he must generate a tax number. The OnlyFans creator can therefore also be a private individual with a tax ID, can account for costs or choose to apply the 10 percent cost ratio. Since the income comes from abroad, the tax advance must be determined and paid quarterly, and the total annual income and the tax advance paid must be included in the annual tax return. The advance payment does not have to be deducted until the public burden to be paid does not exceed ten thousand forints. The reporting deadline is May 22 this year the spokesperson added. If the taxpayer discovers before the NAV audit that he did not report such income in previous years, he can amend his tax return for the given year by self-verification within the limitation period, but the self-verification surcharge must be paid at the same time as the missed tax. In this way, you can be exempted from tax fines, default fines and late fees. In addition to requesting a tax number, the OnlyFans creator must issue an invoice on which, in addition to stating the term “reverse taxation”, the general sales tax must not be included, but the VAT must be declared at home. The declaration of the net amount of the service must be submitted by the 20th of the month following the month in question for those obliged to file a monthly declaration, by the 20th of the month following the quarter in the case of a quarterly declaration, and by February 25 of the following year in the case of an annual declaration. The document must also be submitted later, if this is not done by the deadline. OnlyFans is not included in NAV’s annual inspection plan, and the authority’s goal is not punishment, but information.