How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Will the recipient in Poland need identification to receive money from Madagascar?
Yes. If you're sending money from Madagascar to Poland for cash pickup, the recipient in Poland must show a valid ID and sometimes the transaction number. This helps ensure that money sent from Madagascar is securely delivered in Poland.
What are the advantages and disadvantages of using a SWIFT bank transfer?
Advantages: Large amounts can be transferred securely.
Disadvantages: Longer processing time (several days), high fees from both sending and receiving banks.
Do I need a bank account in Madagascar to send money to Poland?
Not necessarily. Many international services operating in Madagascar offer cash transfers to Poland, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Madagascar to Poland, an account will be required.
