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I'm a software/game developer from the Philippines and someone from the US has hired me to make a game. The game is now completed and the remainder of the payment is still about USD $100,000.

My question is, what is the most cost effective way for my client to send me the money? I'm not sure if I can accept that amount through Paypal without paying a huge fee.

Would also be great to know what to expect in terms of tax and fees when I receive it here in the Philippines.

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I'm not sure if I can accept that amount through Paypal without paying a huge fee.

You mean outside the STANDARD fee of Paypal? It is a lot of money.

Consider: * Standard international wire transfers. They often ahve excessive high start fees, but for that amount a wire is pretty much standard. * You may use a third party payment service. Paypal is among the most expensive ones. Google is your friend. Without KYC etc - 100k is a LOT to run outside of normal banking. You do have a bank account, right?

Would also be great to know what to expect in terms of tax

Noting special. Which means standard income and business taxation as per your busines licesnese and philippines tax code apply.

You DO have a business license, right? 100k USD is way above what you likely can slip in as "small income" given it is on the top tier of the yearly income in the philipines. Heck, you may realize that you pay top income taxes anyway and no, you CAN NOT just hide the money. This is major tax fraud.

  • well, I don't want to hide the money. I just don't want to spend a premium (with paypal) when there could be cheaper alternatives I just don't know about. It's also my first time to accept that amount. And yes, I'm registered self employed and pay tax in the PH. Thank you. – majidarif Apr 1 at 12:23
  • Well, paypal is quite expensive. transferwise i.e. is what we use for payments into the philpines - bank account to bank account - and well, fees are rounring errors. – TomTom Apr 1 at 13:15
  • I did see transferwise but I noticed there was a limit per transfer to philippines. – majidarif Apr 1 at 13:39
  • 100k is VERY Unusually high. You will always pay a pice like that - or have to use banking. Heck, loosing 1% is not routragous. Alternatively you will have to wait for some of the crypto transfer channels to get online. No way around it, sadly. – TomTom Apr 1 at 15:35
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I hired several Filipinos before and had to send payments from the U.S. Paypal used to be free, but that all changed a little more than a year ago. Some of the services I considered changing to, include: MoneyGram, Western Union, and Remitly.

Hope that helps.

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