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Interestingly, while you can't be donated money in Finland people can certainly and rather freely give gifts to another person. It's even tax-free as long as gi
by yason 6y ago
Interestingly, while you can't be donated money in Finland people can certainly and rather freely give gifts to another person. It's even tax-free as long as gifts from one person remain under 4000€ for any consecutive three years.
Surely gettings lots of monetary gifts from foreign friends would probably not hold during a tax audit (they'd accuse you of trying to evade taxes unless you could provide a plausible reason why all these people would be sending you gifts) but it's an interesting counter-example nevertheless.
- tylerhou 6y ago(Not saying one country is better than the other but) in the US, there are no taxes on gifts until you gift more than $11 million in your life. If you go above $15,000 in any calendar year, you do have to notify the government, though.
- jsnell 6y agoThe restriction isn't on receiving donations. It's on soliciting donations from the public.
- thaumasiotes 6y ago> It's even tax-free as long as gifts from one person remain under 4000€ for any consecutive three years. Not something to be impressed by; gifts are tax free in the US under $15,000 per one year.
- thw0rted 6y agoI just commented above, but isn't this actually what's happening? I mean, isn't giving something of value to someone, and expecting nothing in return, the textbook definition of a "gift"? This feels more and more like something is getting lost in translation.