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-   -   Loan / tax question (https://www.askmehelpdesk.com/showthread.php?t=527735)

  • Nov 20, 2010, 05:18 PM
    slizer
    Loan / tax question
    My friend made a business deal in Dubai (United Emerits) and wants to send me money I loaned him directly to my bank account.
    Do I need to pay taxes on this money ?
  • Nov 20, 2010, 05:29 PM
    ScottGem

    You only need to pay taxes on any interest on that money.
  • Nov 20, 2010, 07:11 PM
    slizer
    Comment on ScottGem's post
    Can you elaborate on that scottgem ? What do you mean "on any interest ? "
  • Nov 20, 2010, 08:54 PM
    ScottGem

    You made a loan, did he pay you interest?

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